Lorne Steinberg Wealth Management Inc. Grows Stock Holdings in Canadian Natural Resources Limited (NYSE:CNQ)

Lorne Steinberg Wealth Management Inc. grew its holdings in shares of Canadian Natural Resources Limited (NYSE:CNQ - Free Report) TSE: CNQ by 1,077.2% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 85,535 shares of the oil and gas producer's stock after buying an additional 78,269 shares during the period. Lorne Steinberg Wealth Management Inc.'s holdings in Canadian Natural Resources were worth $2,635,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently bought and sold shares of the business. Yousif Capital Management LLC lifted its position in Canadian Natural Resources by 56.3% in the fourth quarter. Yousif Capital Management LLC now owns 27,065 shares of the oil and gas producer's stock valued at $835,000 after acquiring an additional 9,745 shares during the last quarter. Principal Securities Inc. lifted its holdings in shares of Canadian Natural Resources by 595.2% in the 4th quarter. Principal Securities Inc. now owns 6,987 shares of the oil and gas producer's stock valued at $216,000 after purchasing an additional 5,982 shares during the last quarter. Principal Financial Group Inc. lifted its stake in Canadian Natural Resources by 6.8% in the fourth quarter. Principal Financial Group Inc. now owns 4,468,492 shares of the oil and gas producer's stock valued at $137,889,000 after buying an additional 282,696 shares during the last quarter. CIBC Asset Management Inc lifted its stake in Canadian Natural Resources by 5.6% in the fourth quarter. CIBC Asset Management Inc now owns 24,109,432 shares of the oil and gas producer's stock valued at $746,025,000 after buying an additional 1,270,945 shares during the last quarter. Finally, Mraz Amerine & Associates Inc. lifted its stake in Canadian Natural Resources by 3.8% in the fourth quarter. Mraz Amerine & Associates Inc. now owns 181,893 shares of the oil and gas producer's stock valued at $5,615,000 after buying an additional 6,616 shares during the last quarter. 74.03% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts recently commented on CNQ shares. Evercore ISI upgraded shares of Canadian Natural Resources from an "in-line" rating to an "outperform" rating in a research report on Friday, March 7th. Raymond James Financial upgraded Canadian Natural Resources from a "market perform" rating to an "outperform" rating in a research note on Wednesday, April 9th. Royal Bank Of Canada reissued an "outperform" rating and set a $63.00 price target on shares of Canadian Natural Resources in a report on Thursday, March 27th. Finally, Scotiabank raised Canadian Natural Resources from a "sector perform" rating to a "sector outperform" rating in a research note on Wednesday, March 19th. Three analysts have rated the stock with a hold rating and four have given a buy rating to the company's stock. According to MarketBeat.com, Canadian Natural Resources has a consensus rating of "Moderate Buy" and an average price target of $63.00.

Canadian Natural Resources Price Performance

Shares of CNQ traded up $0.68 during mid-day trading on Tuesday, reaching $34.00. 9,366,847 shares of the company's stock were exchanged, compared to its average volume of 5,657,411. The company has a quick ratio of 0.53, a current ratio of 0.84 and a debt-to-equity ratio of 0.40. The company has a 50-day simple moving average of $30.08 and a two-hundred day simple moving average of $30.30. Canadian Natural Resources Limited has a 52-week low of $24.65 and a 52-week high of $37.91. The company has a market cap of $71.11 billion, a price-to-earnings ratio of 13.33 and a beta of 1.03.

Canadian Natural Resources (NYSE:CNQ - Get Free Report) TSE: CNQ last released its earnings results on Thursday, May 8th. The oil and gas producer reported $0.81 EPS for the quarter, topping the consensus estimate of $0.73 by $0.08. The firm had revenue of $6.96 billion during the quarter, compared to analysts' expectations of $10.14 billion. Canadian Natural Resources had a net margin of 16.92% and a return on equity of 20.90%. During the same period in the previous year, the company earned $1.37 EPS. On average, sell-side analysts predict that Canadian Natural Resources Limited will post 2.45 EPS for the current fiscal year.

Canadian Natural Resources Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 3rd. Stockholders of record on Friday, June 13th will be paid a dividend of $0.4227 per share. The ex-dividend date of this dividend is Friday, June 13th. This is a boost from Canadian Natural Resources's previous quarterly dividend of $0.41. This represents a $1.69 annualized dividend and a dividend yield of 4.97%. Canadian Natural Resources's payout ratio is currently 67.06%.

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).