Canadian Natural Resources Limited (NYSE:CNQ) Shares Bought by Lorne Steinberg Wealth Management Inc.

Lorne Steinberg Wealth Management Inc. increased its position in shares of Canadian Natural Resources Limited (NYSE:CNQ - Free Report) TSE: CNQ by 1,077.2% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 85,535 shares of the oil and gas producer's stock after acquiring an additional 78,269 shares during the quarter. Lorne Steinberg Wealth Management Inc.'s holdings in Canadian Natural Resources were worth $2,635,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of CNQ. Janney Montgomery Scott LLC purchased a new stake in shares of Canadian Natural Resources during the 1st quarter valued at $757,000. Opal Wealth Advisors LLC purchased a new stake in Canadian Natural Resources in the first quarter valued at about $56,000. Hennessy Advisors Inc. boosted its holdings in Canadian Natural Resources by 14.1% in the first quarter. Hennessy Advisors Inc. now owns 195,500 shares of the oil and gas producer's stock worth $6,021,000 after acquiring an additional 24,100 shares in the last quarter. Wealth Enhancement Advisory Services LLC grew its stake in shares of Canadian Natural Resources by 8.1% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 36,803 shares of the oil and gas producer's stock worth $1,134,000 after acquiring an additional 2,756 shares during the last quarter. Finally, Azzad Asset Management Inc. ADV acquired a new position in shares of Canadian Natural Resources during the first quarter valued at about $4,747,000. 74.03% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

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

Canadian Natural Resources Stock Performance

Shares of Canadian Natural Resources stock traded down $0.44 during trading on Thursday, hitting $33.58. 6,457,807 shares of the company's stock were exchanged, compared to its average volume of 5,655,524. The stock has a market capitalization of $70.23 billion, a price-to-earnings ratio of 13.17 and a beta of 1.03. The business has a 50-day simple moving average of $30.31 and a 200-day simple moving average of $30.35. Canadian Natural Resources Limited has a 52-week low of $24.65 and a 52-week high of $37.91. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.53 and a current ratio of 0.84.

Canadian Natural Resources (NYSE:CNQ - Get Free Report) TSE: CNQ last released its quarterly earnings data on Thursday, May 8th. The oil and gas producer reported $0.81 earnings per share for the quarter, beating analysts' consensus estimates of $0.73 by $0.08. Canadian Natural Resources had a return on equity of 20.90% and a net margin of 16.92%. The business had revenue of $6.96 billion during the quarter, compared to analyst estimates of $10.14 billion. During the same quarter last year, the business posted $1.37 EPS. On average, research analysts forecast that Canadian Natural Resources Limited will post 2.45 EPS for the current year.

Canadian Natural Resources Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, July 3rd. Investors of record on Friday, June 13th will be paid a $0.4227 dividend. 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 5.04%. The ex-dividend date of this dividend is Friday, June 13th. 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).