Graybill Wealth Management LTD. Takes $3.70 Million Position in Canadian Natural Resources Limited (NYSE:CNQ)

Graybill Wealth Management LTD. purchased a new position in Canadian Natural Resources Limited (NYSE:CNQ - Free Report) TSE: CNQ in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 120,028 shares of the oil and gas producer's stock, valued at approximately $3,697,000.

A number of other hedge funds have also recently made changes to their positions in the business. Lee Danner & Bass Inc. bought a new stake in Canadian Natural Resources in the fourth quarter worth about $25,000. Sandy Spring Bank purchased a new position in shares of Canadian Natural Resources in the fourth quarter worth approximately $31,000. CoreFirst Bank & Trust purchased a new position in shares of Canadian Natural Resources in the fourth quarter worth approximately $31,000. Hurley Capital LLC purchased a new position in shares of Canadian Natural Resources in the fourth quarter worth $31,000. Finally, Assetmark Inc. increased its position in Canadian Natural Resources by 57.3% during the fourth quarter. Assetmark Inc. now owns 1,205 shares of the oil and gas producer's stock valued at $37,000 after acquiring an additional 439 shares during the last quarter. 74.03% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts have commented on CNQ shares. Raymond James Financial raised shares of Canadian Natural Resources from a "market perform" rating to an "outperform" rating in a research report on Wednesday, April 9th. National Bankshares restated a "sector perform" rating on shares of Canadian Natural Resources in a research note on Thursday. Royal Bank Of Canada restated an "outperform" rating and set a $63.00 target price on shares of Canadian Natural Resources in a research report on Thursday, March 27th. Finally, Scotiabank reaffirmed an "outperform" rating on shares of Canadian Natural Resources in a report on Friday, July 11th. Four investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat, Canadian Natural Resources has an average rating of "Moderate Buy" and an average target price of $63.00.

Canadian Natural Resources Stock Performance

Shares of CNQ traded up $0.15 during trading hours on Thursday, reaching $31.05. 1,236,188 shares of the company's stock traded hands, compared to its average volume of 5,755,803. The business's fifty day simple moving average is $31.69 and its two-hundred day simple moving average is $30.43. The firm has a market capitalization of $64.94 billion, a price-to-earnings ratio of 12.17 and a beta of 1.03. Canadian Natural Resources Limited has a twelve month low of $24.65 and a twelve month high of $37.91. The company has a debt-to-equity ratio of 0.40, a current ratio of 0.84 and a quick ratio of 0.53.

Canadian Natural Resources (NYSE:CNQ - Get Free Report) TSE: CNQ last issued its earnings results on Thursday, May 8th. The oil and gas producer reported $0.81 EPS for the quarter, topping the consensus estimate of $0.73 by $0.08. The firm had revenue of $6.96 billion during the quarter, compared to analysts' expectations of $10.14 billion. Canadian Natural Resources had a return on equity of 20.90% and a net margin of 16.92%. During the same period last year, the business earned $1.37 earnings per share. Analysts predict that Canadian Natural Resources Limited will post 2.45 earnings per share for the current year.

Canadian Natural Resources Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, July 3rd. Shareholders of record on Friday, June 13th were given a dividend of $0.4227 per share. This is a positive change from Canadian Natural Resources's previous quarterly dividend of $0.41. The ex-dividend date was Friday, June 13th. This represents a $1.69 annualized dividend and a dividend yield of 5.45%. Canadian Natural Resources's payout ratio is 67.06%.

Canadian Natural Resources 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).