Kornitzer Capital Management Inc. KS bought a new stake in Canadian Natural Resources Limited (NYSE:CNQ - Free Report) TSE: CNQ during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 67,820 shares of the oil and gas producer's stock, valued at approximately $2,089,000.
A number of other large investors have also made changes to their positions in CNQ. Independent Advisor Alliance purchased a new position in Canadian Natural Resources during the fourth quarter worth about $256,000. Natixis Advisors LLC raised its holdings in shares of Canadian Natural Resources by 6.8% in the 4th quarter. Natixis Advisors LLC now owns 545,258 shares of the oil and gas producer's stock worth $16,832,000 after purchasing an additional 34,928 shares during the period. Tocqueville Asset Management L.P. raised its holdings in shares of Canadian Natural Resources by 8.2% in the 4th quarter. Tocqueville Asset Management L.P. now owns 56,424 shares of the oil and gas producer's stock worth $1,742,000 after purchasing an additional 4,265 shares during the period. Maryland State Retirement & Pension System grew its stake in shares of Canadian Natural Resources by 2.3% in the fourth quarter. Maryland State Retirement & Pension System now owns 204,320 shares of the oil and gas producer's stock valued at $6,305,000 after buying an additional 4,622 shares in the last quarter. Finally, Stokes Family Office LLC grew its stake in shares of Canadian Natural Resources by 3.1% in the fourth quarter. Stokes Family Office LLC now owns 20,050 shares of the oil and gas producer's stock valued at $619,000 after buying an additional 610 shares in the last quarter. Institutional investors and hedge funds own 74.03% of the company's stock.
Wall Street Analyst Weigh In
A number of equities research analysts have weighed in on CNQ shares. National Bankshares restated a "sector perform" rating on shares of Canadian Natural Resources in a research note on Thursday. Raymond James Financial upgraded Canadian Natural Resources from a "market perform" rating to an "outperform" rating in a research report on Wednesday, April 9th. Scotiabank reiterated an "outperform" rating on shares of Canadian Natural Resources in a research report on Friday, July 11th. Finally, Royal Bank Of Canada reiterated an "outperform" rating and issued a $63.00 target price on shares of Canadian Natural Resources in a research report on Thursday, March 27th. Three investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company's stock. According to data from MarketBeat.com, Canadian Natural Resources presently has an average rating of "Moderate Buy" and an average price target of $63.00.
Check Out Our Latest Stock Analysis on CNQ
Canadian Natural Resources Price Performance
Shares of NYSE CNQ traded down $0.21 during mid-day trading on Friday, reaching $30.81. The company had a trading volume of 4,938,048 shares, compared to its average volume of 5,757,653. The company has a current ratio of 0.84, a quick ratio of 0.53 and a debt-to-equity ratio of 0.40. The stock has a market cap of $64.45 billion, a PE ratio of 12.08 and a beta of 1.03. The company has a 50-day moving average price of $31.71 and a two-hundred day moving average price of $30.43. 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 issued its quarterly earnings results on Thursday, May 8th. The oil and gas producer reported $0.81 earnings per share for the quarter, beating analysts' consensus estimates of $0.73 by $0.08. Canadian Natural Resources had a return on equity of 20.90% and a net margin of 16.92%. The business had revenue of $6.96 billion for the quarter, compared to the consensus estimate of $10.14 billion. During the same quarter in the previous year, the company posted $1.37 earnings per share. On average, equities analysts anticipate 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. Stockholders of record on Friday, June 13th were paid a dividend of $0.4227 per share. This represents a $1.69 annualized dividend and a dividend yield of 5.49%. The ex-dividend date was Friday, June 13th. This is an increase from Canadian Natural Resources's previous quarterly dividend of $0.41. Canadian Natural Resources's dividend payout ratio is 67.06%.
Canadian Natural Resources Profile
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Free Report)
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).
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