Baskin Financial Services Inc. Has $30.92 Million Stock Position in Canadian Natural Resources Limited (NYSE:CNQ)

Baskin Financial Services Inc. raised its holdings in Canadian Natural Resources Limited (NYSE:CNQ - Free Report) TSE: CNQ by 0.9% during the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 1,005,012 shares of the oil and gas producer's stock after purchasing an additional 8,861 shares during the quarter. Canadian Natural Resources accounts for approximately 2.5% of Baskin Financial Services Inc.'s investment portfolio, making the stock its 23rd biggest position. Baskin Financial Services Inc.'s holdings in Canadian Natural Resources were worth $30,921,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of CNQ. FMR LLC boosted its position in Canadian Natural Resources by 8.7% in the fourth quarter. FMR LLC now owns 92,550,104 shares of the oil and gas producer's stock valued at $2,857,337,000 after buying an additional 7,372,718 shares in the last quarter. Canoe Financial LP boosted its holdings in shares of Canadian Natural Resources by 403.7% during the 1st quarter. Canoe Financial LP now owns 4,738,577 shares of the oil and gas producer's stock valued at $145,828,000 after acquiring an additional 3,797,846 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. boosted its stake in shares of Canadian Natural Resources by 31.6% during the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 13,433,797 shares of the oil and gas producer's stock valued at $414,223,000 after purchasing an additional 3,224,548 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of Canadian Natural Resources by 30.1% during the fourth quarter. Geode Capital Management LLC now owns 12,708,163 shares of the oil and gas producer's stock valued at $400,222,000 after purchasing an additional 2,939,866 shares in the last quarter. Finally, T. Rowe Price Investment Management Inc. boosted its stake in shares of Canadian Natural Resources by 7.3% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 34,052,775 shares of the oil and gas producer's stock valued at $1,051,210,000 after purchasing an additional 2,312,437 shares in the last quarter. Institutional investors and hedge funds own 74.03% of the company's stock.

Canadian Natural Resources Trading Down 0.5%

Shares of NYSE:CNQ traded down $0.17 during midday trading on Friday, reaching $32.24. The company's stock had a trading volume of 2,616,468 shares, compared to its average volume of 5,783,292. The firm has a market capitalization of $67.44 billion, a price-to-earnings ratio of 12.64 and a beta of 1.03. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.53 and a current ratio of 0.84. The firm has a 50 day moving average price of $31.23 and a two-hundred day moving average price of $30.33. Canadian Natural Resources Limited has a fifty-two week low of $24.65 and a fifty-two week 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 (EPS) for the quarter, beating the consensus estimate 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 firm had revenue of $6.96 billion for the quarter, compared to analyst estimates of $10.14 billion. During the same period in the previous year, the firm earned $1.37 earnings per share. As a group, analysts forecast 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 announced a quarterly dividend, which was paid on Thursday, July 3rd. Investors of record on Friday, June 13th were given a dividend of $0.4227 per share. This represents a $1.69 dividend on an annualized basis and a dividend yield of 5.24%. 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 payout ratio is presently 67.06%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on CNQ. Scotiabank upgraded shares of Canadian Natural Resources from a "sector perform" rating to a "sector outperform" rating in a report on Wednesday, March 19th. Raymond James Financial raised Canadian Natural Resources from a "market perform" rating to an "outperform" rating in a report on Wednesday, April 9th. Royal Bank Of Canada reaffirmed an "outperform" rating and set a $63.00 target price on shares of Canadian Natural Resources in a report on Thursday, March 27th. Finally, Evercore ISI raised Canadian Natural Resources from an "in-line" rating to an "outperform" rating in a research note on Friday, March 7th. Three investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company currently has an average 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).