Boston Partners Has $227.75 Million Position in Canadian Natural Resources Limited (NYSE:CNQ)

Key Points

• Boston Partners has reduced its stock position in Canadian Natural Resources Limited by 16.9%, selling over 1.5 million shares and now owning 7.4 million shares valued at approximately $227.7 million.
• Other major investors, including Goldman Sachs and Bank of Nova Scotia, significantly increased their holdings in the company during the first quarter.
• Canadian Natural Resources recently declared a quarterly dividend of $0.4269 per share, reflecting an annualized dividend yield of 5.7%.

Boston Partners cut its stake in shares of Canadian Natural Resources Limited (NYSE:CNQ - Free Report) TSE: CNQ by 16.9% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 7,411,452 shares of the oil and gas producer's stock after selling 1,505,414 shares during the quarter. Boston Partners owned 0.35% of Canadian Natural Resources worth $227,748,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Graybill Wealth Management LTD. purchased a new stake in shares of Canadian Natural Resources during the 1st quarter worth $3,697,000. Janney Montgomery Scott LLC purchased a new position in Canadian Natural Resources in the first quarter valued at about $757,000. PKO Investment Management Joint Stock Co acquired a new stake in shares of Canadian Natural Resources during the 4th quarter valued at approximately $2,452,000. Baskin Financial Services Inc. boosted its stake in shares of Canadian Natural Resources by 0.9% during the 1st quarter. Baskin Financial Services Inc. now owns 1,005,012 shares of the oil and gas producer's stock worth $30,921,000 after acquiring an additional 8,861 shares in the last quarter. Finally, Institute for Wealth Management LLC. acquired a new position in shares of Canadian Natural Resources during the 1st quarter worth $385,000. 74.03% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

CNQ has been the topic of a number of research analyst reports. Raymond James Financial reiterated an "outperform" rating on shares of Canadian Natural Resources in a report on Friday, August 8th. National Bankshares restated a "sector perform" rating on shares of Canadian Natural Resources in a research note on Thursday, July 17th. Scotiabank reiterated an "outperform" rating on shares of Canadian Natural Resources in a report on Friday, July 11th. Finally, Royal Bank Of Canada reduced their price target on Canadian Natural Resources from $64.00 to $62.00 and set an "outperform" rating on the stock in a research report on Friday, August 8th. Three equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $62.00.

Canadian Natural Resources Trading Up 0.1%

Shares of NYSE:CNQ traded up $0.04 during midday trading on Friday, reaching $29.83. The company had a trading volume of 3,142,682 shares, compared to its average volume of 4,632,908. The company has a fifty day simple moving average of $31.68 and a two-hundred day simple moving average of $30.34. The firm has a market cap of $62.32 billion, a price-to-earnings ratio of 10.58 and a beta of 1.05. Canadian Natural Resources Limited has a 1-year low of $24.65 and a 1-year high of $37.91. 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 issued its earnings results on Thursday, August 7th. The oil and gas producer reported $0.51 EPS 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 analysts' expectations 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 firm posted $0.88 earnings per share. Research analysts predict 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 will be paid on Friday, October 3rd. Shareholders of record on Friday, September 19th will be issued a dividend of $0.4269 per share. This represents a $1.71 annualized dividend and a yield of 5.7%. This is an increase from Canadian Natural Resources's previous quarterly dividend of $0.42. The ex-dividend date is Friday, September 19th. Canadian Natural Resources's dividend payout ratio is 60.64%.

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).