Canadian Natural Resources Limited (NYSE:CNQ) Position Boosted by Bank of New York Mellon Corp

Bank of New York Mellon Corp increased its holdings in Canadian Natural Resources Limited (NYSE:CNQ - Free Report) TSE: CNQ by 6.3% in the 1st quarter, according to its most recent disclosure with the SEC. The firm owned 4,717,467 shares of the oil and gas producer's stock after acquiring an additional 279,696 shares during the period. Bank of New York Mellon Corp owned approximately 0.22% of Canadian Natural Resources worth $145,298,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of CNQ. Lee Danner & Bass Inc. acquired a new stake in shares of Canadian Natural Resources in the fourth quarter valued at $25,000. Hurley Capital LLC acquired a new stake in Canadian Natural Resources in the fourth quarter valued at $31,000. Sandy Spring Bank acquired a new stake in shares of Canadian Natural Resources during the fourth quarter worth about $31,000. CoreFirst Bank & Trust acquired a new stake in shares of Canadian Natural Resources during the fourth quarter worth about $31,000. Finally, Assetmark Inc. increased its position in shares of 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 worth $37,000 after purchasing an additional 439 shares in the last quarter. 74.03% of the stock is currently owned by hedge funds and other institutional investors.

Canadian Natural Resources Trading Up 0.9%

Shares of CNQ stock traded up $0.30 on Friday, reaching $32.09. 4,322,892 shares of the stock were exchanged, compared to its average volume of 5,806,862. The stock has a market cap of $67.12 billion, a P/E ratio of 12.58 and a beta of 1.03. The company has a quick ratio of 0.53, a current ratio of 0.84 and a debt-to-equity ratio of 0.40. The firm has a 50 day moving average of $31.45 and a two-hundred day moving average of $30.39. 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 announced its quarterly earnings results on Thursday, May 8th. The oil and gas producer reported $0.81 earnings per share for the quarter, topping analysts' consensus estimates of $0.73 by $0.08. Canadian Natural Resources had a net margin of 16.92% and a return on equity of 20.90%. The firm had revenue of $6.96 billion during the quarter, compared to analysts' expectations of $10.14 billion. During the same period in the prior year, the company earned $1.37 EPS. On average, research analysts anticipate that Canadian Natural Resources Limited will post 2.45 EPS for the current year.

Canadian Natural Resources Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, July 3rd. Shareholders of record on Friday, June 13th were given a $0.4227 dividend. This is a boost from Canadian Natural Resources's previous quarterly dividend of $0.41. This represents a $1.69 dividend on an annualized basis and a yield of 5.27%. The ex-dividend date of this dividend was Friday, June 13th. Canadian Natural Resources's dividend payout ratio is presently 67.06%.

Wall Street Analyst Weigh In

CNQ has been the topic of a number of research reports. Raymond James Financial raised Canadian Natural Resources from a "market perform" rating to an "outperform" rating in a report on Wednesday, April 9th. Scotiabank upgraded Canadian Natural Resources from a "sector perform" rating to a "sector outperform" rating in a research report on Wednesday, March 19th. Finally, Royal Bank Of Canada restated an "outperform" rating and set a $63.00 price objective on shares of Canadian Natural Resources in a research report on Thursday, March 27th. Three equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $63.00.

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).