Canadian Natural Resources Limited $CNQ Shares Bought by Aviso Financial Inc.

Key Points

• Aviso Financial Inc. has increased its holdings in Canadian Natural Resources Limited by 1.9%, acquiring an additional 54,964 shares, bringing its total ownership to approximately 2,930,646 shares.
• Canadian Natural Resources recently announced a quarterly dividend increase to $0.4269 per share, reflecting a dividend yield of 5.7% and a payout ratio of 60.64%.
• Analysts maintain a consensus rating of "Moderate Buy" for CNQ, with a price target of $62.00, indicating expected growth potential for the stock.

Aviso Financial Inc. raised its holdings in Canadian Natural Resources Limited (NYSE:CNQ - Free Report) TSE: CNQ by 1.9% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 2,930,646 shares of the oil and gas producer's stock after acquiring an additional 54,964 shares during the quarter. Canadian Natural Resources accounts for about 4.4% of Aviso Financial Inc.'s holdings, making the stock its 4th biggest position. Aviso Financial Inc. owned about 0.14% of Canadian Natural Resources worth $90,211,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. T. Rowe Price Investment Management Inc. boosted its position in shares of Canadian Natural Resources by 7.3% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 34,052,775 shares of the oil and gas producer's stock worth $1,051,210,000 after buying an additional 2,312,437 shares in the last quarter. Mackenzie Financial Corp increased its holdings in Canadian Natural Resources by 4.8% during the 1st quarter. Mackenzie Financial Corp now owns 33,100,240 shares of the oil and gas producer's stock valued at $1,018,469,000 after acquiring an additional 1,519,523 shares in the last quarter. The Manufacturers Life Insurance Company increased its holdings in Canadian Natural Resources by 5.1% during the 4th quarter. The Manufacturers Life Insurance Company now owns 29,910,127 shares of the oil and gas producer's stock valued at $924,675,000 after acquiring an additional 1,442,000 shares in the last quarter. Bank of Nova Scotia increased its holdings in Canadian Natural Resources by 86.6% during the 1st quarter. Bank of Nova Scotia now owns 24,262,707 shares of the oil and gas producer's stock valued at $746,675,000 after acquiring an additional 11,259,267 shares in the last quarter. Finally, Goldman Sachs Group Inc. increased its holdings in Canadian Natural Resources by 240.8% during the 1st quarter. Goldman Sachs Group Inc. now owns 22,776,594 shares of the oil and gas producer's stock valued at $701,519,000 after acquiring an additional 16,094,168 shares in the last quarter. Institutional investors and hedge funds own 74.03% of the company's stock.

Canadian Natural Resources Price Performance

CNQ stock traded up $0.9450 during trading on Friday, hitting $31.1050. The stock had a trading volume of 6,376,181 shares, compared to its average volume of 4,555,778. The company's 50 day moving average price is $31.41 and its two-hundred day moving average price is $30.32. Canadian Natural Resources Limited has a 1-year low of $24.65 and a 1-year high of $37.91. The stock has a market cap of $64.98 billion, a price-to-earnings ratio of 11.03 and a beta of 1.05. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.54 and a current ratio of 0.85.

Canadian Natural Resources (NYSE:CNQ - Get Free Report) TSE: CNQ last announced its earnings results on Thursday, August 7th. The oil and gas producer reported $0.51 earnings per share for the quarter, beating the consensus estimate 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 firm had revenue of $6.39 billion during the quarter, compared to the consensus estimate of $8.97 billion. During the same quarter in the previous year, the company posted $0.88 EPS. On average, sell-side analysts forecast that Canadian Natural Resources Limited will post 2.45 EPS for the current fiscal year.

Canadian Natural Resources Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 3rd. Stockholders of record on Friday, September 19th will be paid a dividend of $0.4269 per share. The ex-dividend date of this dividend is Friday, September 19th. This represents a $1.71 dividend on an annualized basis and a dividend yield of 5.5%. This is an increase from Canadian Natural Resources's previous quarterly dividend of $0.42. Canadian Natural Resources's dividend payout ratio is currently 60.64%.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the stock. Royal Bank Of Canada dropped 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 report on Friday, August 8th. Scotiabank restated an "outperform" rating on shares of Canadian Natural Resources in a report on Friday, July 11th. National Bankshares restated a "sector perform" rating on shares of Canadian Natural Resources in a report on Thursday, July 17th. Finally, Raymond James Financial restated an "outperform" rating on shares of Canadian Natural Resources in a report on Friday, August 8th. Four equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $62.00.

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).