Northern Trust Corp Purchases 217,152 Shares of Canadian Natural Resources Limited $CNQ

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 grew its position in shares of Canadian Natural Resources Limited (NYSE:CNQ - Free Report) TSE: CNQ by 7.1% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,292,073 shares of the oil and gas producer's stock after acquiring an additional 217,152 shares during the quarter. Northern Trust Corp owned about 0.16% of Canadian Natural Resources worth $101,396,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Thurston Springer Miller Herd & Titak Inc. lifted its position in shares of Canadian Natural Resources by 10.2% during the 1st quarter. Thurston Springer Miller Herd & Titak Inc. now owns 5,165 shares of the oil and gas producer's stock valued at $159,000 after buying an additional 480 shares during the last quarter. AdvisorNet Financial Inc lifted its position in shares of Canadian Natural Resources by 8.0% during the 1st quarter. AdvisorNet Financial Inc now owns 7,065 shares of the oil and gas producer's stock valued at $218,000 after buying an additional 525 shares during the last quarter. MML Investors Services LLC lifted its position in shares of Canadian Natural Resources by 1.0% during the 4th quarter. MML Investors Services LLC now owns 55,045 shares of the oil and gas producer's stock valued at $1,699,000 after buying an additional 528 shares during the last quarter. Peak Financial Advisors LLC lifted its position in shares of Canadian Natural Resources by 0.7% during the 1st quarter. Peak Financial Advisors LLC now owns 77,253 shares of the oil and gas producer's stock valued at $2,379,000 after buying an additional 557 shares during the last quarter. Finally, Investment Management Corp VA ADV lifted its position in shares of Canadian Natural Resources by 158.3% during the 1st quarter. Investment Management Corp VA ADV now owns 997 shares of the oil and gas producer's stock valued at $31,000 after buying an additional 611 shares during the last quarter. Institutional investors own 74.03% of the company's stock.

Canadian Natural Resources Price Performance

NYSE CNQ traded up $0.19 during trading on Friday, reaching $31.68. The company's stock had a trading volume of 6,081,073 shares, compared to its average volume of 5,735,944. The stock has a market capitalization of $66.17 billion, a PE ratio of 11.23 and a beta of 1.05. The company has a debt-to-equity ratio of 0.38, a current ratio of 0.85 and a quick ratio of 0.54. The firm has a fifty day moving average of $31.17 and a 200 day moving average of $30.33. Canadian Natural Resources Limited has a one year low of $24.65 and a one year high of $37.91.

Canadian Natural Resources (NYSE:CNQ - Get Free Report) TSE: CNQ last announced its earnings results on Thursday, August 7th. The oil and gas producer reported $0.51 earnings per share for the quarter, topping analysts' consensus estimates of $0.44 by $0.07. The business had revenue of $6.39 billion for the quarter, compared to analyst estimates 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 company earned $0.88 EPS. 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 disclosed a quarterly dividend, which will be paid on Friday, October 3rd. Stockholders of record on Friday, September 19th will be given a dividend of $0.4269 per share. This is a boost from Canadian Natural Resources's previous quarterly dividend of $0.42. The ex-dividend date is Friday, September 19th. This represents a $1.71 annualized dividend and a dividend yield of 5.4%. Canadian Natural Resources's dividend payout ratio is currently 60.64%.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on CNQ shares. Scotiabank reaffirmed an "outperform" rating on shares of Canadian Natural Resources in a research report on Friday, July 11th. Zacks Research raised Canadian Natural Resources from a "hold" rating to a "strong-buy" rating in a research report on Tuesday. Royal Bank Of Canada dropped their price target 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. National Bankshares reaffirmed a "sector perform" rating on shares of Canadian Natural Resources in a research report on Thursday, July 17th. Finally, Raymond James Financial reiterated an "outperform" rating on shares of Canadian Natural Resources in a research note on Friday, August 8th. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and two have assigned a Hold rating to the company's stock. According to data from MarketBeat, Canadian Natural Resources has a consensus rating of "Moderate Buy" and a consensus 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).