Burgundy Asset Management Ltd. Boosts Stock Position in Canadian Natural Resources Limited (NYSE:CNQ)

Burgundy Asset Management Ltd. grew its stake in shares of Canadian Natural Resources Limited (NYSE:CNQ - Free Report) TSE: CNQ by 78.3% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 72,704 shares of the oil and gas producer's stock after buying an additional 31,933 shares during the period. Burgundy Asset Management Ltd.'s holdings in Canadian Natural Resources were worth $2,242,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in CNQ. Barclays PLC lifted its position in shares of Canadian Natural Resources by 23.4% during the 3rd quarter. Barclays PLC now owns 716,670 shares of the oil and gas producer's stock valued at $23,800,000 after buying an additional 136,107 shares in the last quarter. Merit Financial Group LLC purchased a new position in shares of Canadian Natural Resources during the 4th quarter valued at about $285,000. SG Americas Securities LLC lifted its position in shares of Canadian Natural Resources by 6.3% during the 4th quarter. SG Americas Securities LLC now owns 296,424 shares of the oil and gas producer's stock valued at $9,151,000 after buying an additional 17,694 shares in the last quarter. Fifth Third Bancorp lifted its position in shares of Canadian Natural Resources by 51.0% during the 4th quarter. Fifth Third Bancorp now owns 1,271 shares of the oil and gas producer's stock valued at $39,000 after buying an additional 429 shares in the last quarter. Finally, Jamison Private Wealth Management Inc. lifted its position in shares of Canadian Natural Resources by 117.0% during the 4th quarter. Jamison Private Wealth Management Inc. now owns 11,719 shares of the oil and gas producer's stock valued at $362,000 after buying an additional 6,319 shares in the last quarter. 74.03% of the stock is owned by hedge funds and other institutional investors.

Canadian Natural Resources Stock Performance

CNQ stock opened at $30.87 on Friday. The company has a quick ratio of 0.53, a current ratio of 0.84 and a debt-to-equity ratio of 0.21. The business's fifty day simple moving average is $29.42 and its two-hundred day simple moving average is $30.63. Canadian Natural Resources Limited has a twelve month low of $24.65 and a twelve month high of $38.86. The firm has a market cap of $64.66 billion, a price-to-earnings ratio of 11.99 and a beta of 1.04.

Canadian Natural Resources (NYSE:CNQ - Get Free Report) TSE: CNQ last released its earnings results on Thursday, May 8th. The oil and gas producer reported $0.81 earnings per share for the quarter, topping analysts' consensus estimates of $0.73 by $0.08. Canadian Natural Resources had a return on equity of 20.07% and a net margin of 18.45%. The business had revenue of $6.96 billion for the quarter, compared to analyst estimates of $10.14 billion. During the same quarter last year, the firm posted $1.37 earnings per share. Analysts predict that Canadian Natural Resources Limited will post 2.45 earnings per share for the current year.

Canadian Natural Resources Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, July 3rd. Shareholders of record on Friday, June 13th will be paid a $0.4227 dividend. This is a positive change from Canadian Natural Resources's previous quarterly dividend of $0.41. The ex-dividend date is Friday, June 13th. This represents a $1.69 dividend on an annualized basis and a yield of 5.48%. Canadian Natural Resources's dividend payout ratio (DPR) is presently 63.92%.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on CNQ. Royal Bank of Canada reaffirmed an "outperform" rating and issued a $63.00 price objective on shares of Canadian Natural Resources in a research note on Thursday, March 27th. Scotiabank raised Canadian Natural Resources from a "sector perform" rating to a "sector outperform" rating in a research note on Wednesday, March 19th. Raymond James raised Canadian Natural Resources from a "market perform" rating to an "outperform" rating in a research note on Wednesday, April 9th. Evercore ISI raised Canadian Natural Resources from an "in-line" rating to an "outperform" rating in a research note on Friday, March 7th. Finally, Tudor Pickering downgraded Canadian Natural Resources from a "strong-buy" rating to a "hold" rating in a research note on Monday, February 10th. Three investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $63.00.

About Canadian Natural Resources

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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