Canadian Natural Resources Limited $CNQ Shares Acquired by TD Asset Management Inc

Key Points

• TD Asset Management Inc increased its stake in Canadian Natural Resources Limited by 0.8%, now holding over 41 million shares, making it the firm's 17th largest investment.
• Canadian Natural Resources recently declared a quarterly dividend of $0.4269 per share, reflecting an annualized yield of 5.4%, marking an increase from the previous dividend.
• The company's stock has shown a 1-year low of $24.65 and a high of $37.35, with analysts giving it an average price target of $62.00.

TD Asset Management Inc increased its holdings in shares of Canadian Natural Resources Limited (NYSE:CNQ - Free Report) TSE: CNQ by 0.8% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 41,581,125 shares of the oil and gas producer's stock after purchasing an additional 316,933 shares during the period. Canadian Natural Resources accounts for 1.1% of TD Asset Management Inc's investment portfolio, making the stock its 17th largest holding. TD Asset Management Inc owned 1.99% of Canadian Natural Resources worth $1,304,267,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in CNQ. Brandywine Global Investment Management LLC increased its position in Canadian Natural Resources by 27.5% in the 1st quarter. Brandywine Global Investment Management LLC now owns 2,183,598 shares of the oil and gas producer's stock valued at $67,201,000 after acquiring an additional 470,391 shares during the period. Sei Investments Co. raised its stake in shares of Canadian Natural Resources by 41.9% during the first quarter. Sei Investments Co. now owns 49,307 shares of the oil and gas producer's stock worth $1,519,000 after purchasing an additional 14,561 shares during the last quarter. Addenda Capital Inc. lifted its holdings in shares of Canadian Natural Resources by 11.0% during the second quarter. Addenda Capital Inc. now owns 2,370,885 shares of the oil and gas producer's stock worth $74,446,000 after purchasing an additional 235,198 shares during the period. Baird Financial Group Inc. grew its position in Canadian Natural Resources by 594.8% in the 1st quarter. Baird Financial Group Inc. now owns 133,501 shares of the oil and gas producer's stock valued at $4,112,000 after buying an additional 114,287 shares during the last quarter. Finally, Graybill Wealth Management LTD. acquired a new position in Canadian Natural Resources in the 1st quarter valued at $3,697,000. 74.03% of the stock is owned by hedge funds and other institutional investors.

Canadian Natural Resources Stock Performance

NYSE CNQ opened at $31.58 on Tuesday. The business has a 50 day moving average price of $31.35 and a 200 day moving average price of $30.86. The company has a market capitalization of $65.90 billion, a P/E ratio of 11.20 and a beta of 0.97. Canadian Natural Resources Limited has a 1-year low of $24.65 and a 1-year high of $37.35. 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 (NYSE:CNQ - Get Free Report) TSE: CNQ last posted its earnings results on Thursday, August 7th. The oil and gas producer reported $0.51 earnings per share for the quarter, beating the consensus estimate of $0.44 by $0.07. Canadian Natural Resources had a return on equity of 19.67% and a net margin of 19.00%.The company had revenue of $6.39 billion for the quarter, compared to analyst estimates of $8.97 billion. During the same quarter in the prior year, the company earned $0.88 earnings per share. Sell-side 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 represents a $1.71 annualized dividend and a dividend yield of 5.4%. This is a boost from Canadian Natural Resources's previous quarterly dividend of $0.42. The ex-dividend date of this dividend was Friday, September 19th. Canadian Natural Resources's payout ratio is currently 60.64%.

Analyst Upgrades and Downgrades

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

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