Mufg Securities Canada LTD. Has $250.89 Million Stake in Canadian Natural Resources Limited $CNQ

Mufg Securities Canada LTD. raised its position in Canadian Natural Resources Limited (NYSE:CNQ) (TSE:CNQ) by 105.7% during the 2nd quarter, HoldingsChannel reports. The fund owned 6,350,644 shares of the oil and gas producer’s stock after buying an additional 3,262,880 shares during the quarter. Canadian Natural Resources comprises about 6.7% of Mufg Securities Canada LTD.’s portfolio, making the stock its 4th largest holding. Mufg Securities Canada LTD.’s holdings in Canadian Natural Resources were worth $250,892,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Capital Research Global Investors lifted its position in shares of Canadian Natural Resources by 31.5% in the fourth quarter. Capital Research Global Investors now owns 146,331,336 shares of the oil and gas producer’s stock worth $4,956,204,000 after purchasing an additional 35,067,143 shares in the last quarter. Fisher Asset Management LLC increased its stake in Canadian Natural Resources by 3.2% in the 4th quarter. Fisher Asset Management LLC now owns 42,745,981 shares of the oil and gas producer’s stock valued at $1,446,951,000 after buying an additional 1,342,954 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund increased its stake in Canadian Natural Resources by 10.0% in the 1st quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 37,457,500 shares of the oil and gas producer’s stock valued at $1,826,578,000 after buying an additional 3,397,500 shares during the last quarter. Arrowstreet Capital Limited Partnership bought a new stake in Canadian Natural Resources during the 1st quarter worth about $1,411,619,000. Finally, Geode Capital Management LLC lifted its position in Canadian Natural Resources by 7.0% during the 4th quarter. Geode Capital Management LLC now owns 20,518,621 shares of the oil and gas producer’s stock worth $710,119,000 after buying an additional 1,347,844 shares in the last quarter. 74.03% of the stock is owned by institutional investors.

Canadian Natural Resources Trading Up 2.3%

Shares of NYSE:CNQ opened at $50.13 on Tuesday. Canadian Natural Resources Limited has a 52-week low of $29.68 and a 52-week high of $51.47. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.75 and a current ratio of 1.00. The company has a market capitalization of $103.39 billion, a P/E ratio of 12.38 and a beta of 0.46. The company has a 50-day simple moving average of $45.06 and a 200 day simple moving average of $45.56.

Canadian Natural Resources (NYSE:CNQ) (TSE:CNQ) last announced its quarterly earnings results on Thursday, August 6th. The oil and gas producer reported $1.58 earnings per share for the quarter, topping analysts’ consensus estimates of $1.43 by $0.15. Canadian Natural Resources had a return on equity of 23.91% and a net margin of 22.78%.The firm had revenue of $14.74 billion for the quarter, compared to the consensus estimate of $9.40 billion. Sell-side analysts forecast that Canadian Natural Resources Limited will post 4.05 earnings per share for the current year.

Canadian Natural Resources Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 2nd. Shareholders of record on Friday, September 11th will be given a dividend of $0.625 per share. This represents a $2.50 dividend on an annualized basis and a yield of 5.0%. The ex-dividend date of this dividend is Friday, September 11th. Canadian Natural Resources’s payout ratio is 44.69%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the company. TD Securities restated a “buy” rating on shares of Canadian Natural Resources in a report on Friday, August 7th. Canadian Imperial Bank of Commerce reissued an “outperform” rating on shares of Canadian Natural Resources in a research report on Thursday. Zacks Research downgraded Canadian Natural Resources from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, August 19th. Raymond James Financial raised Canadian Natural Resources from a “market perform” rating to an “outperform” rating in a research report on Thursday, May 7th. Finally, Weiss Ratings raised Canadian Natural Resources from a “buy (b-)” rating to a “buy (b)” rating in a report on Friday, August 21st. Seven research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $57.00.

Canadian Natural Resources Company Profile

Canadian Natural Resources Limited (NYSE: CNQ) is a Calgary-based independent oil and natural gas exploration and production company. Established in the early 1970s and publicly listed in Canada and the United States, the company is principally engaged in the exploration, development, production, and marketing of crude oil, natural gas and natural gas liquids. Its asset base spans conventional and unconventional reservoirs and includes oil sands mining and in-situ thermal projects, midstream processing and upgrading capacity, and related field operations.

The company’s operations are concentrated in Western Canada, where it develops heavy crude, bitumen from oil sands and conventional light crude and natural gas resources.