Canadian Natural Resources Limited (NYSE:CNQ) Stake Boosted by Canoe Financial LP

Canoe Financial LP grew its stake in shares of Canadian Natural Resources Limited (NYSE:CNQ) (TSE:CNQ) by 226.0% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,549,610 shares of the oil and gas producer’s stock after acquiring an additional 1,074,199 shares during the period. Canadian Natural Resources accounts for 1.2% of Canoe Financial LP’s investment portfolio, making the stock its 26th biggest holding. Canoe Financial LP’s holdings in Canadian Natural Resources were worth $51,469,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. Park Place Capital Corp grew its holdings in shares of Canadian Natural Resources by 100.0% during the 2nd quarter. Park Place Capital Corp now owns 716 shares of the oil and gas producer’s stock valued at $25,000 after acquiring an additional 358 shares in the last quarter. RFP Financial Group LLC lifted its stake in shares of Canadian Natural Resources by 98.3% in the 2nd quarter. RFP Financial Group LLC now owns 710 shares of the oil and gas producer’s stock valued at $25,000 after purchasing an additional 352 shares during the last quarter. Sugarloaf Wealth Management LLC lifted its stake in shares of Canadian Natural Resources by 100.0% in the 2nd quarter. Sugarloaf Wealth Management LLC now owns 728 shares of the oil and gas producer’s stock valued at $26,000 after purchasing an additional 364 shares during the last quarter. Bruce G. Allen Investments LLC lifted its stake in shares of Canadian Natural Resources by 91.6% in the 2nd quarter. Bruce G. Allen Investments LLC now owns 868 shares of the oil and gas producer’s stock valued at $31,000 after purchasing an additional 415 shares during the last quarter. Finally, GAMMA Investing LLC lifted its stake in shares of Canadian Natural Resources by 104.7% in the 2nd quarter. GAMMA Investing LLC now owns 874 shares of the oil and gas producer’s stock valued at $31,000 after purchasing an additional 447 shares during the last quarter. 74.03% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

CNQ has been the subject of several analyst reports. StockNews.com lowered shares of Canadian Natural Resources from a “buy” rating to a “hold” rating in a research note on Friday, August 23rd. Wolfe Research initiated coverage on shares of Canadian Natural Resources in a research note on Thursday, July 18th. They issued a “peer perform” rating for the company. Finally, Desjardins raised shares of Canadian Natural Resources from a “hold” rating to a “moderate buy” rating in a research note on Tuesday, October 8th. Five investment analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $49.50.

Canadian Natural Resources Stock Up 1.3 %

Canadian Natural Resources stock opened at $35.55 on Monday. The firm has a market cap of $75.65 billion, a price-to-earnings ratio of 14.16 and a beta of 1.50. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.88 and a quick ratio of 0.59. Canadian Natural Resources Limited has a fifty-two week low of $29.45 and a fifty-two week high of $41.29. The firm has a fifty day moving average price of $34.92 and a two-hundred day moving average price of $35.95.

Canadian Natural Resources (NYSE:CNQ) (TSE:CNQ) last released its earnings results on Thursday, August 1st. The oil and gas producer reported $0.88 earnings per share for the quarter, topping analysts’ consensus estimates of $0.62 by $0.26. The firm had revenue of $7.76 billion during the quarter, compared to analyst estimates of $6.19 billion. Canadian Natural Resources had a net margin of 18.05% and a return on equity of 22.09%. During the same quarter in the previous year, the business earned $0.43 EPS. As a group, analysts forecast that Canadian Natural Resources Limited will post 2.5 earnings per share for the current year.

Canadian Natural Resources Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 3rd. Stockholders of record on Friday, December 13th will be given a dividend of $0.388 per share. The ex-dividend date is Friday, December 13th. This represents a $1.55 dividend on an annualized basis and a dividend yield of 4.37%. This is a positive change from Canadian Natural Resources’s previous quarterly dividend of $0.38. Canadian Natural Resources’s dividend payout ratio is currently 66.14%.

Canadian Natural Resources Company Profile

Canadian Natural Resources Limited acquires, explores for, develops, produces, markets, and sells crude oil, natural gas, and natural gas liquids (NGLs). The company offers light and medium crude oil, primary heavy crude oil, Pelican Lake heavy crude oil, bitumen (thermal oil), and synthetic crude oil (SCO).