19,900 Shares in Canadian Natural Resources Limited $CNQ Bought by Corient IA LLC

Key Points

• Corient IA LLC acquired 19,900 shares in Canadian Natural Resources Limited, valued at approximately $613,000, indicating growing interest from institutional investors in the company.
• The company recently declared a quarterly dividend of $0.4269, reflecting a positive change from its previous dividend and demonstrating a 5.7% dividend yield.
• Canadian Natural Resources has a consensus rating of "Moderate Buy" from analysts, with a target price set at $62.00, suggesting potential upside for investors.

Corient IA LLC bought a new position in shares of Canadian Natural Resources Limited (NYSE:CNQ - Free Report) TSE: CNQ in the first quarter, according to the company in its most recent filing with the SEC. The institutional investor bought 19,900 shares of the oil and gas producer's stock, valued at approximately $613,000.

A number of other large investors have also recently added to or reduced their stakes in CNQ. Investment Management Corp VA ADV grew its holdings in shares of Canadian Natural Resources by 158.3% in the 1st quarter. Investment Management Corp VA ADV now owns 997 shares of the oil and gas producer's stock valued at $31,000 after acquiring an additional 611 shares in the last quarter. Versant Capital Management Inc grew its holdings in shares of Canadian Natural Resources by 253.2% in the 1st quarter. Versant Capital Management Inc now owns 1,307 shares of the oil and gas producer's stock valued at $40,000 after acquiring an additional 937 shares in the last quarter. Sierra Ocean LLC grew its holdings in shares of Canadian Natural Resources by 104.0% in the 1st quarter. Sierra Ocean LLC now owns 1,569 shares of the oil and gas producer's stock valued at $48,000 after acquiring an additional 800 shares in the last quarter. Opal Wealth Advisors LLC bought a new position in shares of Canadian Natural Resources in the 1st quarter valued at about $56,000. Finally, Cloud Capital Management LLC bought a new position in shares of Canadian Natural Resources in the 1st quarter valued at about $68,000. Institutional investors own 74.03% of the company's stock.

Analysts Set New Price Targets

Several brokerages have recently weighed in on CNQ. Scotiabank restated an "outperform" rating on shares of Canadian Natural Resources in a report on Friday, July 11th. National Bankshares reiterated a "sector perform" rating on shares of Canadian Natural Resources in a research note on Thursday, July 17th. Raymond James Financial reiterated an "outperform" rating on shares of Canadian Natural Resources in a research note on Friday, August 8th. Finally, Royal Bank Of Canada cut their target price on shares of Canadian Natural Resources from $64.00 to $62.00 and set an "outperform" rating for the company in a research note on Friday, August 8th. Four equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $62.00.

Canadian Natural Resources Stock Performance

CNQ stock traded up $0.5050 during mid-day trading on Thursday, hitting $30.1350. 3,896,038 shares of the company were exchanged, compared to its average volume of 6,396,959. The business has a 50 day simple moving average of $31.52 and a 200-day simple moving average of $30.32. The company has a current ratio of 0.85, a quick ratio of 0.54 and a debt-to-equity ratio of 0.38. The stock has a market capitalization of $62.96 billion, a PE ratio of 10.69 and a beta of 1.05. Canadian Natural Resources Limited has a 1-year low of $24.65 and a 1-year high of $37.91.

Canadian Natural Resources (NYSE:CNQ - Get Free Report) TSE: CNQ last released its quarterly earnings results on Thursday, August 7th. The oil and gas producer reported $0.51 earnings per share for the quarter, beating analysts' consensus estimates of $0.44 by $0.07. Canadian Natural Resources had a net margin of 19.00% and a return on equity of 19.67%. The company had revenue of $6.39 billion during the quarter, compared to the consensus estimate of $8.97 billion. During the same period in the previous year, the business earned $0.88 earnings per share. On average, equities analysts forecast that Canadian Natural Resources Limited will post 2.45 earnings per share for the current year.

Canadian Natural Resources Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 3rd. Investors of record on Friday, September 19th will be paid a $0.4269 dividend. This represents a $1.71 dividend on an annualized basis and a yield of 5.7%. This is a positive change from Canadian Natural Resources's previous quarterly dividend of $0.42. The ex-dividend date of this dividend is Friday, September 19th. Canadian Natural Resources's payout ratio is 60.64%.

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).