Baskin Financial Services Inc. Increases Stake in Canadian Natural Resources Limited $CNQ

Key Points

• Baskin Financial Services Inc. has increased its stake in Canadian Natural Resources Limited by 0.9%, owning a total of 1,014,500 shares valued at about $31.88 million.
• Canadian Natural Resources recently declared a quarterly dividend increase to $0.4269 per share, reflecting a yield of 5.2% and a payout ratio of 60.64%.
• The company's recent quarterly earnings showed $0.51 per share, beating estimates, with a market capitalization of approximately $68.29 billion.

Baskin Financial Services Inc. increased its position in shares of Canadian Natural Resources Limited (NYSE:CNQ - Free Report) TSE: CNQ by 0.9% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,014,500 shares of the oil and gas producer's stock after buying an additional 9,488 shares during the period. Canadian Natural Resources comprises approximately 2.4% of Baskin Financial Services Inc.'s holdings, making the stock its 21st largest holding. Baskin Financial Services Inc.'s holdings in Canadian Natural Resources were worth $31,882,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Ameritas Advisory Services LLC purchased a new position in shares of Canadian Natural Resources during the second quarter valued at $27,000. Investment Management Corp VA ADV boosted its position in Canadian Natural Resources by 158.3% during the first quarter. Investment Management Corp VA ADV now owns 997 shares of the oil and gas producer's stock valued at $31,000 after purchasing an additional 611 shares in the last quarter. Sierra Ocean LLC boosted its position in Canadian Natural Resources by 104.0% during the first quarter. Sierra Ocean LLC now owns 1,569 shares of the oil and gas producer's stock valued at $48,000 after purchasing an additional 800 shares in the last quarter. Geneos Wealth Management Inc. boosted its position in Canadian Natural Resources by 47.3% during the first quarter. Geneos Wealth Management Inc. now owns 1,644 shares of the oil and gas producer's stock valued at $51,000 after purchasing an additional 528 shares in the last quarter. Finally, Adirondack Trust Co. boosted its position in Canadian Natural Resources by 317.1% during the second quarter. Adirondack Trust Co. now owns 1,710 shares of the oil and gas producer's stock valued at $54,000 after purchasing an additional 1,300 shares in the last quarter. Hedge funds and other institutional investors own 74.03% of the company's stock.

Canadian Natural Resources Price Performance

Shares of NYSE CNQ opened at $32.72 on Friday. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.54 and a current ratio of 0.85. The company has a market cap of $68.29 billion, a PE ratio of 11.60 and a beta of 0.97. The business has a 50-day simple moving average of $31.32 and a two-hundred day simple moving average of $30.86. 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, August 7th. The oil and gas producer reported $0.51 earnings per share for the quarter, topping the consensus estimate of $0.44 by $0.07. The business had revenue of $6.39 billion during the quarter, compared to the consensus estimate of $8.97 billion. Canadian Natural Resources had a return on equity of 19.67% and a net margin of 19.00%.During the same quarter last year, the company earned $0.88 earnings per share. As a group, equities analysts expect that Canadian Natural Resources Limited will post 2.45 EPS for the current fiscal year.

Canadian Natural Resources Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, October 3rd. Shareholders of record on Friday, September 19th were issued a $0.4269 dividend. This is a boost from Canadian Natural Resources's previous quarterly dividend of $0.42. This represents a $1.71 annualized dividend and a yield of 5.2%. The ex-dividend date of this dividend was Friday, September 19th. Canadian Natural Resources's dividend payout ratio is 60.64%.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on CNQ shares. Royal Bank Of Canada reaffirmed an "outperform" rating and set a $62.00 price objective on shares of Canadian Natural Resources in a research report on Wednesday, September 24th. Zacks Research raised Canadian Natural Resources from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, August 26th. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Canadian Natural Resources in a research report on Wednesday. Raymond James Financial reaffirmed an "outperform" rating on shares of Canadian Natural Resources in a research report on Friday, August 8th. Finally, TD Securities reaffirmed a "buy" rating on shares of Canadian Natural Resources in a research report on Tuesday, September 30th. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and three have issued a Hold rating to the company's stock. Based on data from MarketBeat, Canadian Natural Resources presently has an average rating of "Moderate Buy" and a consensus price target of $62.00.

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).

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