Intech Investment Management LLC Grows Stake in Canadian Natural Resources Limited $CNQ

Key Points

• Intech Investment Management LLC increased its stake in Canadian Natural Resources Limited by 43.7%, now holding 445,503 shares valued at $13.7 million.
• The company declared a quarterly dividend of $0.4269 per share, which marks an increase from the previous dividend and represents a 5.5% yield.
• Analyst ratings for the stock show a consensus of "Moderate Buy", with one analyst giving it a "Strong Buy" rating and a target price of $62.00.

Intech Investment Management LLC increased its position in Canadian Natural Resources Limited (NYSE:CNQ - Free Report) TSE: CNQ by 43.7% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 445,503 shares of the oil and gas producer's stock after buying an additional 135,516 shares during the quarter. Intech Investment Management LLC's holdings in Canadian Natural Resources were worth $13,706,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Investment Management Corp VA ADV lifted its position in Canadian Natural Resources by 158.3% in the first quarter. Investment Management Corp VA ADV now owns 997 shares of the oil and gas producer's stock valued at $31,000 after purchasing an additional 611 shares during the last quarter. Versant Capital Management Inc lifted its position in Canadian Natural Resources by 253.2% in the first quarter. Versant Capital Management Inc now owns 1,307 shares of the oil and gas producer's stock valued at $40,000 after purchasing an additional 937 shares during the last quarter. Sierra Ocean LLC lifted its position in Canadian Natural Resources by 104.0% in the first quarter. Sierra Ocean LLC now owns 1,569 shares of the oil and gas producer's stock valued at $48,000 after purchasing an additional 800 shares during the last quarter. Opal Wealth Advisors LLC bought a new stake in Canadian Natural Resources in the first quarter valued at approximately $56,000. Finally, Cloud Capital Management LLC bought a new stake in Canadian Natural Resources in the first quarter valued at approximately $68,000. Institutional investors own 74.03% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the company. Raymond James Financial reiterated an "outperform" rating on shares of Canadian Natural Resources in a research report on Friday, August 8th. National Bankshares reiterated a "sector perform" rating on shares of Canadian Natural Resources in a research report on Thursday, July 17th. Scotiabank reiterated an "outperform" rating on shares of Canadian Natural Resources in a research report on Friday, July 11th. Zacks Research upgraded Canadian Natural Resources from a "hold" rating to a "strong-buy" rating in a report on Tuesday, August 26th. Finally, Royal Bank Of Canada decreased their target price on Canadian Natural Resources from $64.00 to $62.00 and set an "outperform" rating for the company in a report on Friday, August 8th. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and two have issued a Hold rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $62.00.

Canadian Natural Resources Trading Down 0.0%

Shares of Canadian Natural Resources stock traded down $0.01 during midday trading on Friday, reaching $31.21. 4,754,214 shares of the company's stock traded hands, compared to its average volume of 6,131,079. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.54 and a current ratio of 0.85. The company has a market cap of $65.14 billion, a PE ratio of 11.07 and a beta of 1.03. The stock has a 50 day moving average of $31.03 and a 200-day moving average of $30.41. 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 issued its quarterly earnings results on Thursday, August 7th. The oil and gas producer reported $0.51 earnings per share for the quarter, topping 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 in the prior year, the firm earned $0.88 earnings per share. As a group, equities analysts expect that Canadian Natural Resources Limited will post 2.45 EPS 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. Investors of record on Friday, September 19th will be paid a $0.4269 dividend. The ex-dividend date of this dividend is Friday, September 19th. This is a positive change from Canadian Natural Resources's previous quarterly dividend of $0.42. This represents a $1.71 annualized dividend and a yield of 5.5%. Canadian Natural Resources's payout ratio is currently 60.64%.

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).