Brandywine Global Investment Management LLC Raises Stake in Canadian Natural Resources Limited $CNQ

Key Points

• Brandywine Global Investment Management LLC increased its stake in Canadian Natural Resources Limited by 27.5%, acquiring an additional 470,391 shares during the 1st quarter, bringing its total ownership to approximately $67.2 million.
• Canadian Natural Resources recently announced a quarterly dividend of $0.4269, reflecting an increase from its previous dividend and offering a yield of 5.7%.
• Analysts have given Canadian Natural Resources a consensus rating of "Moderate Buy" with a price target of $62.00, amid fluctuating performance and mixed earnings results.

Brandywine Global Investment Management LLC grew its holdings in Canadian Natural Resources Limited (NYSE:CNQ - Free Report) TSE: CNQ by 27.5% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,183,598 shares of the oil and gas producer's stock after purchasing an additional 470,391 shares during the period. Brandywine Global Investment Management LLC owned approximately 0.10% of Canadian Natural Resources worth $67,201,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Thurston Springer Miller Herd & Titak Inc. increased its holdings in shares of Canadian Natural Resources by 10.2% in the 1st quarter. Thurston Springer Miller Herd & Titak Inc. now owns 5,165 shares of the oil and gas producer's stock worth $159,000 after buying an additional 480 shares during the last quarter. AdvisorNet Financial Inc increased its holdings in shares of Canadian Natural Resources by 8.0% in the 1st quarter. AdvisorNet Financial Inc now owns 7,065 shares of the oil and gas producer's stock worth $218,000 after buying an additional 525 shares during the last quarter. MML Investors Services LLC increased its holdings in shares of Canadian Natural Resources by 1.0% in the 4th quarter. MML Investors Services LLC now owns 55,045 shares of the oil and gas producer's stock worth $1,699,000 after buying an additional 528 shares during the last quarter. Peak Financial Advisors LLC increased its holdings in shares of Canadian Natural Resources by 0.7% in the 1st quarter. Peak Financial Advisors LLC now owns 77,253 shares of the oil and gas producer's stock worth $2,379,000 after buying an additional 557 shares during the last quarter. Finally, Investment Management Corp VA ADV increased its holdings in shares of Canadian Natural Resources by 158.3% in the 1st quarter. Investment Management Corp VA ADV now owns 997 shares of the oil and gas producer's stock worth $31,000 after buying an additional 611 shares during the last quarter. Institutional investors own 74.03% of the company's stock.

Canadian Natural Resources Stock Performance

Shares of CNQ traded up $0.2850 on Wednesday, reaching $29.5950. The company's stock had a trading volume of 5,472,245 shares, compared to its average volume of 4,468,695. The company has a debt-to-equity ratio of 0.38, a current ratio of 0.85 and a quick ratio of 0.54. The stock has a market capitalization of $61.83 billion, a P/E ratio of 10.49 and a beta of 1.05. The stock's 50 day simple moving average is $31.52 and its two-hundred day simple moving average is $30.32. Canadian Natural Resources Limited has a 12-month low of $24.65 and a 12-month high of $37.91.

Canadian Natural Resources (NYSE:CNQ - Get Free Report) TSE: CNQ last posted its quarterly earnings data on Thursday, August 7th. The oil and gas producer reported $0.51 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.44 by $0.07. The company had revenue of $6.39 billion for the quarter, compared to the consensus estimate of $8.97 billion. Canadian Natural Resources had a net margin of 19.00% and a return on equity of 19.67%. During the same quarter last year, the firm posted $0.88 earnings per share. Research analysts forecast that Canadian Natural Resources Limited will post 2.45 earnings per share for the current fiscal year.

Canadian Natural Resources Increases Dividend

The company also recently declared 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 is an increase from Canadian Natural Resources's previous quarterly dividend of $0.42. This represents a $1.71 annualized dividend and a yield of 5.8%. The ex-dividend date of this dividend is Friday, September 19th. Canadian Natural Resources's payout ratio is presently 60.64%.

Analysts Set New Price Targets

Several equities analysts recently commented on CNQ shares. Royal Bank Of Canada reduced their target price on shares of Canadian Natural Resources from $64.00 to $62.00 and set an "outperform" rating on the stock in a report on Friday, August 8th. National Bankshares reissued a "sector perform" rating on shares of Canadian Natural Resources in a research report on Thursday, July 17th. Raymond James Financial reaffirmed an "outperform" rating on shares of Canadian Natural Resources in a research report on Friday, August 8th. Finally, Scotiabank reissued an "outperform" rating on shares of Canadian Natural Resources in a research report on Friday, July 11th. Four investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average 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).