Bank of New York Mellon Corp Acquires 279,696 Shares of Canadian Natural Resources Limited (NYSE:CNQ)

Bank of New York Mellon Corp raised its stake in Canadian Natural Resources Limited (NYSE:CNQ - Free Report) TSE: CNQ by 6.3% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 4,717,467 shares of the oil and gas producer's stock after buying an additional 279,696 shares during the period. Bank of New York Mellon Corp owned about 0.22% of Canadian Natural Resources worth $145,298,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Lee Danner & Bass Inc. purchased a new stake in Canadian Natural Resources during the 4th quarter valued at $25,000. Sandy Spring Bank bought a new stake in Canadian Natural Resources during the 4th quarter valued at about $31,000. CoreFirst Bank & Trust bought a new stake in Canadian Natural Resources during the 4th quarter valued at about $31,000. Hurley Capital LLC bought a new stake in Canadian Natural Resources during the 4th quarter valued at about $31,000. Finally, Assetmark Inc. grew its stake in shares of Canadian Natural Resources by 57.3% in the fourth quarter. Assetmark Inc. now owns 1,205 shares of the oil and gas producer's stock worth $37,000 after acquiring an additional 439 shares during the period. Institutional investors own 74.03% of the company's stock.

Canadian Natural Resources Trading Up 0.9%

Shares of CNQ traded up $0.30 during midday trading on Friday, hitting $32.09. The stock had a trading volume of 4,805,822 shares, compared to its average volume of 5,797,558. Canadian Natural Resources Limited has a 1 year low of $24.65 and a 1 year high of $37.91. The firm has a market cap of $67.12 billion, a PE ratio of 12.58 and a beta of 1.03. The company has a debt-to-equity ratio of 0.40, a current ratio of 0.84 and a quick ratio of 0.53. The stock's 50 day moving average is $31.51 and its 200 day moving average is $30.40.

Canadian Natural Resources (NYSE:CNQ - Get Free Report) TSE: CNQ last announced its earnings results on Thursday, May 8th. The oil and gas producer reported $0.81 earnings per share for the quarter, beating the consensus estimate of $0.73 by $0.08. The business had revenue of $6.96 billion for the quarter, compared to the consensus estimate of $10.14 billion. Canadian Natural Resources had a net margin of 16.92% and a return on equity of 20.90%. During the same quarter in the prior year, the firm posted $1.37 earnings per share. As a group, 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 declared a quarterly dividend, which was paid on Thursday, July 3rd. Investors of record on Friday, June 13th were paid a $0.4227 dividend. This represents a $1.69 annualized dividend and a yield of 5.27%. The ex-dividend date of this dividend 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 (DPR) is currently 67.06%.

Analyst Ratings Changes

A number of analysts have recently commented on CNQ shares. Royal Bank Of Canada reiterated an "outperform" rating and issued a $63.00 price target on shares of Canadian Natural Resources in a research note on Thursday, March 27th. Raymond James Financial raised shares of Canadian Natural Resources from a "market perform" rating to an "outperform" rating in a report on Wednesday, April 9th. Finally, Scotiabank raised shares of Canadian Natural Resources from a "sector perform" rating to a "sector outperform" rating in a report on Wednesday, March 19th. Three research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price 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).