Canadian Natural Resources Limited $CNQ Holdings Boosted by Mraz Amerine & Associates Inc.

Key Points

• Mraz Amerine & Associates Inc. increased its stake in Canadian Natural Resources Limited by 14% in the second quarter, owning 209,652 shares valued at approximately $6.58 million.
• Institutional ownership in Canadian Natural Resources is significant, with major increases in holdings from firms like Goldman Sachs and Bank of Nova Scotia reported in recent quarters.
• The company has a consensus rating of "Moderate Buy" with analysts setting a target price of $62.00 per share, reflecting positive market sentiment.

Mraz Amerine & Associates Inc. grew its stake in shares of Canadian Natural Resources Limited (NYSE:CNQ - Free Report) TSE: CNQ by 14.0% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 209,652 shares of the oil and gas producer's stock after purchasing an additional 25,798 shares during the quarter. Canadian Natural Resources makes up 1.1% of Mraz Amerine & Associates Inc.'s portfolio, making the stock its 17th largest holding. Mraz Amerine & Associates Inc.'s holdings in Canadian Natural Resources were worth $6,583,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Goldman Sachs Group Inc. grew its stake in Canadian Natural Resources by 240.8% during the 1st quarter. Goldman Sachs Group Inc. now owns 22,776,594 shares of the oil and gas producer's stock worth $701,519,000 after buying an additional 16,094,168 shares during the last quarter. Bank of Nova Scotia boosted its holdings in shares of Canadian Natural Resources by 86.6% during the first quarter. Bank of Nova Scotia now owns 24,262,707 shares of the oil and gas producer's stock valued at $746,675,000 after acquiring an additional 11,259,267 shares during the period. T. Rowe Price Investment Management Inc. grew its position in shares of Canadian Natural Resources by 29.1% during the first quarter. T. Rowe Price Investment Management Inc. now owns 43,968,120 shares of the oil and gas producer's stock worth $1,354,219,000 after acquiring an additional 9,915,345 shares during the last quarter. Canada Pension Plan Investment Board increased its holdings in shares of Canadian Natural Resources by 13.0% in the 1st quarter. Canada Pension Plan Investment Board now owns 41,769,153 shares of the oil and gas producer's stock worth $1,285,464,000 after acquiring an additional 4,805,451 shares during the period. Finally, Canoe Financial LP lifted its position in Canadian Natural Resources by 403.7% in 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 purchasing an additional 3,797,846 shares during the last quarter. 74.03% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

CNQ has been the subject of several recent analyst reports. TD Securities restated a "buy" rating on shares of Canadian Natural Resources in a research report on Tuesday, September 30th. National Bankshares reiterated a "sector perform" rating on shares of Canadian Natural Resources in a research report on Thursday, July 17th. Zacks Research raised Canadian Natural Resources from a "hold" rating to a "strong-buy" rating in a report on Tuesday, August 26th. Raymond James Financial reaffirmed an "outperform" rating on shares of Canadian Natural Resources in a research note on Friday, August 8th. Finally, Royal Bank Of Canada reiterated an "outperform" rating and set a $62.00 price target on shares of Canadian Natural Resources in a research report on Wednesday, September 24th. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat.com, Canadian Natural Resources currently has a consensus rating of "Moderate Buy" and a consensus target price of $62.00.

Canadian Natural Resources Price Performance

Shares of NYSE:CNQ opened at $32.45 on Tuesday. The stock has a market cap of $67.72 billion, a price-to-earnings ratio of 11.51 and a beta of 0.97. The company has a debt-to-equity ratio of 0.38, a current ratio of 0.85 and a quick ratio of 0.54. Canadian Natural Resources Limited has a 12 month low of $24.65 and a 12 month high of $37.91. The stock's 50 day moving average price is $31.28 and its 200 day moving average price is $30.82.

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 (EPS) for the quarter, beating the consensus estimate of $0.44 by $0.07. The company had revenue of $6.39 billion for 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 period last year, the firm earned $0.88 EPS. Equities research analysts anticipate that Canadian Natural Resources Limited will post 2.45 earnings per share 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 represents a $1.71 dividend on an annualized basis and a yield of 5.3%. The ex-dividend date of this dividend was Friday, September 19th. This is a positive change from Canadian Natural Resources's previous quarterly dividend of $0.42. Canadian Natural Resources's dividend payout ratio is currently 60.64%.

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).

Want to see what other hedge funds are holding CNQ? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Canadian Natural Resources Limited (NYSE:CNQ - Free Report) TSE: CNQ.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.