127,200 Shares in Canadian Natural Resources Limited $CNQ Purchased by Barometer Capital Management Inc.

Barometer Capital Management Inc. bought a new stake in Canadian Natural Resources Limited (NYSE:CNQ - Free Report) TSE: CNQ in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 127,200 shares of the oil and gas producer's stock, valued at approximately $6,198,000. Canadian Natural Resources makes up approximately 2.6% of Barometer Capital Management Inc.'s holdings, making the stock its 12th largest holding.

Several other hedge funds have also recently bought and sold shares of CNQ. TD Waterhouse Canada Inc. grew its holdings in Canadian Natural Resources by 4.9% in the fourth quarter. TD Waterhouse Canada Inc. now owns 6,758,445 shares of the oil and gas producer's stock valued at $228,729,000 after purchasing an additional 315,460 shares during the last quarter. Novem Group purchased a new position in shares of Canadian Natural Resources in the fourth quarter valued at $1,270,000. Bleakley Financial Group LLC raised its stake in shares of Canadian Natural Resources by 59.8% during the 4th quarter. Bleakley Financial Group LLC now owns 78,161 shares of the oil and gas producer's stock worth $2,646,000 after buying an additional 29,249 shares during the last quarter. Vanguard Group Inc. boosted its position in shares of Canadian Natural Resources by 0.9% in the 4th quarter. Vanguard Group Inc. now owns 93,305,198 shares of the oil and gas producer's stock worth $3,160,340,000 after buying an additional 818,809 shares in the last quarter. Finally, Farrow Financial Inc. purchased a new stake in shares of Canadian Natural Resources in the 4th quarter worth about $2,331,000. 74.03% of the stock is owned by hedge funds and other institutional investors.

Canadian Natural Resources Trading Up 2.1%

Shares of CNQ stock opened at $44.88 on Wednesday. The firm has a market cap of $93.16 billion, a P/E ratio of 13.40 and a beta of 0.47. Canadian Natural Resources Limited has a 1-year low of $29.30 and a 1-year high of $51.34. The company has a debt-to-equity ratio of 0.37, a current ratio of 0.98 and a quick ratio of 0.68. The firm's 50-day simple moving average is $44.03 and its 200-day simple moving average is $43.01.

Canadian Natural Resources (NYSE:CNQ - Get Free Report) TSE: CNQ last released its earnings results on Thursday, May 7th. The oil and gas producer reported $0.85 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.74 by $0.11. Canadian Natural Resources had a net margin of 22.04% and a return on equity of 17.49%. The firm had revenue of $7.72 billion during the quarter, compared to the consensus estimate of $7.57 billion. During the same period in the previous year, the firm earned $1.16 earnings per share. As a group, equities analysts forecast that Canadian Natural Resources Limited will post 4.2 EPS for the current year.

Canadian Natural Resources Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, July 7th. Stockholders of record on Tuesday, June 23rd were paid a dividend of $0.625 per share. The ex-dividend date of this dividend was Tuesday, June 23rd. This represents a $2.50 annualized dividend and a dividend yield of 5.6%. Canadian Natural Resources's payout ratio is currently 54.03%.

Analyst Ratings Changes

A number of equities analysts have issued reports on CNQ shares. Weiss Ratings cut shares of Canadian Natural Resources from a "buy (b)" rating to a "buy (b-)" rating in a research report on Monday, May 11th. Desjardins upgraded shares of Canadian Natural Resources to a "hold" rating in a research report on Thursday, July 16th. Raymond James Financial upgraded Canadian Natural Resources from a "market perform" rating to an "outperform" rating in a research report on Thursday, May 7th. Scotiabank upgraded Canadian Natural Resources to a "hold" rating in a report on Friday, June 26th. Finally, Zacks Research downgraded Canadian Natural Resources from a "strong-buy" rating to a "hold" rating in a research report on Monday, June 8th. Six equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $57.00.

Canadian Natural Resources 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.

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