Luminus Management LLC Acquires New Stake in Canadian Natural Resources Ltd (NYSE:CNQ)

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Luminus Management LLC acquired a new stake in shares of Canadian Natural Resources Ltd (NYSE:CNQ) (TSE:CNQ) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 4,700,000 shares of the oil and gas producer’s stock, valued at approximately $81,921,000. Canadian Natural Resources comprises 10.6% of Luminus Management LLC’s portfolio, making the stock its 2nd biggest holding. Luminus Management LLC owned 0.40% of Canadian Natural Resources at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. Skandinaviska Enskilda Banken AB publ increased its position in Canadian Natural Resources by 8.9% in the first quarter. Skandinaviska Enskilda Banken AB publ now owns 93,200 shares of the oil and gas producer’s stock worth $1,263,000 after buying an additional 7,600 shares in the last quarter. Hexavest Inc. increased its position in Canadian Natural Resources by 48.3% in the second quarter. Hexavest Inc. now owns 91,189 shares of the oil and gas producer’s stock worth $1,577,000 after buying an additional 29,680 shares in the last quarter. Raymond James & Associates increased its position in Canadian Natural Resources by 30.9% in the second quarter. Raymond James & Associates now owns 161,855 shares of the oil and gas producer’s stock worth $2,808,000 after buying an additional 38,216 shares in the last quarter. Paloma Partners Management Co increased its position in Canadian Natural Resources by 119.3% in the first quarter. Paloma Partners Management Co now owns 20,629 shares of the oil and gas producer’s stock worth $279,000 after buying an additional 11,224 shares in the last quarter. Finally, Manning & Napier Group LLC increased its position in Canadian Natural Resources by 4.9% in the second quarter. Manning & Napier Group LLC now owns 140,782 shares of the oil and gas producer’s stock worth $2,453,000 after buying an additional 6,639 shares in the last quarter. Institutional investors own 66.96% of the company’s stock.

A number of analysts have commented on CNQ shares. National Bank Financial upgraded Canadian Natural Resources from a “sector perform” rating to an “outperform” rating and set a $39.00 price target for the company in a research report on Tuesday, June 23rd. Credit Suisse Group restated an “outperform” rating and issued a $32.00 price target (up previously from $29.00) on shares of Canadian Natural Resources in a research report on Thursday, July 2nd. UBS Group increased their target price on Canadian Natural Resources from $28.00 to $37.00 and gave the stock a “buy” rating in a research report on Monday, June 29th. Goldman Sachs Group upgraded Canadian Natural Resources from a “neutral” rating to a “buy” rating and increased their target price for the stock from $15.00 to $21.00 in a research report on Thursday, May 14th. Finally, Zacks Investment Research upgraded Canadian Natural Resources from a “hold” rating to a “buy” rating and set a $20.00 target price for the company in a research report on Thursday, July 30th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and fourteen have issued a buy rating to the company. Canadian Natural Resources has a consensus rating of “Buy” and a consensus target price of $34.44.

Canadian Natural Resources stock traded down $1.89 during midday trading on Tuesday, reaching $17.84. 4,793,251 shares of the stock traded hands, compared to its average volume of 4,569,765. The stock’s fifty day moving average is $19.31 and its 200-day moving average is $17.69. Canadian Natural Resources Ltd has a 12 month low of $6.71 and a 12 month high of $32.79. The stock has a market cap of $23.30 billion, a P/E ratio of 446.25 and a beta of 1.73. The company has a quick ratio of 0.60, a current ratio of 0.83 and a debt-to-equity ratio of 0.65.

Canadian Natural Resources (NYSE:CNQ) (TSE:CNQ) last announced its quarterly earnings results on Thursday, August 6th. The oil and gas producer reported ($0.65) EPS for the quarter, missing analysts’ consensus estimates of ($0.56) by ($0.09). Canadian Natural Resources had a net margin of 0.33% and a return on equity of 1.56%. During the same period in the prior year, the business earned $0.87 EPS. On average, equities analysts predict that Canadian Natural Resources Ltd will post -0.56 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 5th. Stockholders of record on Friday, September 18th will be paid a $0.318 dividend. This represents a $1.27 annualized dividend and a dividend yield of 7.13%. This is a positive change from Canadian Natural Resources’s previous quarterly dividend of $0.30. The ex-dividend date is Thursday, September 17th. Canadian Natural Resources’s dividend payout ratio (DPR) is presently 54.19%.

Canadian Natural Resources Company Profile

Canadian Natural Resources Limited explores for, develops, produces, and markets crude oil, natural gas, and natural gas liquids (NGLs). The company offers synthetic crude oil (SCO), light and medium crude oil, bitumen (thermal oil), primary heavy crude oil, and Pelican Lake heavy crude oil. Its midstream assets include two crude oil pipeline systems; and a 50% working interest in an 84-megawatt cogeneration plant at Primrose.

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Institutional Ownership by Quarter for Canadian Natural Resources (NYSE:CNQ)

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