Canadian Natural Resources Limited $CNQ Shares Purchased by Northern Trust Corp

Key Points

• Northern Trust Corp increased its stake in Canadian Natural Resources Limited by 7.1% in Q1, owning approximately 3.29 million shares valued at $101.4 million.
• Canadian Natural Resources reported an EPS of $0.51 for the last quarter, exceeding estimates of $0.44, with a revenue of $6.39 billion despite expectations of $8.97 billion.
• The company has declared a quarterly dividend of $0.4269, which represents an increase from the previous dividend of $0.42, yielding approximately 5.5% annually.

Northern Trust Corp boosted its stake in Canadian Natural Resources Limited (NYSE:CNQ - Free Report) TSE: CNQ by 7.1% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 3,292,073 shares of the oil and gas producer's stock after purchasing an additional 217,152 shares during the period. Northern Trust Corp owned about 0.16% of Canadian Natural Resources worth $101,396,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Burgundy Asset Management Ltd. grew its stake in shares of Canadian Natural Resources by 3.3% in the first quarter. Burgundy Asset Management Ltd. now owns 75,135 shares of the oil and gas producer's stock valued at $2,314,000 after buying an additional 2,431 shares in the last quarter. Algert Global LLC lifted its stake in Canadian Natural Resources by 8.5% during the 1st quarter. Algert Global LLC now owns 60,903 shares of the oil and gas producer's stock worth $1,876,000 after acquiring an additional 4,749 shares in the last quarter. Corient IA LLC purchased a new position in Canadian Natural Resources during the 1st quarter valued at about $613,000. Northwest & Ethical Investments L.P. grew its position in Canadian Natural Resources by 53.2% in the 1st quarter. Northwest & Ethical Investments L.P. now owns 690,975 shares of the oil and gas producer's stock valued at $21,274,000 after acquiring an additional 240,062 shares in the last quarter. Finally, Roanoke Asset Management Corp NY increased its stake in Canadian Natural Resources by 0.5% during the first quarter. Roanoke Asset Management Corp NY now owns 128,660 shares of the oil and gas producer's stock worth $3,963,000 after purchasing an additional 625 shares during the period. Hedge funds and other institutional investors own 74.03% of the company's stock.

Analyst Ratings Changes

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

Canadian Natural Resources Stock Up 3.1%

Shares of NYSE:CNQ opened at $31.1050 on Friday. Canadian Natural Resources Limited has a fifty-two week low of $24.65 and a fifty-two week high of $37.91. The firm's 50 day moving average price is $31.41 and its 200 day moving average price is $30.31. The company has a quick ratio of 0.54, a current ratio of 0.85 and a debt-to-equity ratio of 0.38. The stock has a market cap of $64.98 billion, a price-to-earnings ratio of 11.03 and a beta of 1.05.

Canadian Natural Resources (NYSE:CNQ - Get Free Report) TSE: CNQ last posted its quarterly earnings results on Thursday, August 7th. The oil and gas producer reported $0.51 EPS for the quarter, topping the consensus estimate of $0.44 by $0.07. Canadian Natural Resources had a net margin of 19.00% and a return on equity of 19.67%. The company had revenue of $6.39 billion during the quarter, compared to analysts' expectations of $8.97 billion. During the same quarter in the previous year, the business posted $0.88 EPS. As a group, equities research analysts predict 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 will be paid on Friday, October 3rd. Shareholders of record on Friday, September 19th will be paid a $0.4269 dividend. This is a boost from Canadian Natural Resources's previous quarterly dividend of $0.42. This represents a $1.71 dividend on an annualized basis and a yield of 5.5%. The ex-dividend date is Friday, September 19th. Canadian Natural Resources's payout ratio is 60.64%.

Canadian Natural Resources Company 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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