Intact Investment Management Inc. Boosts Position in Canadian Natural Resources Limited (NYSE:CNQ)

Intact Investment Management Inc. boosted its position in shares of Canadian Natural Resources Limited (NYSE:CNQ - Free Report) TSE: CNQ by 86.4% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,818,610 shares of the oil and gas producer's stock after purchasing an additional 842,730 shares during the period. Canadian Natural Resources makes up 1.9% of Intact Investment Management Inc.'s holdings, making the stock its 10th biggest holding. Intact Investment Management Inc. owned 0.09% of Canadian Natural Resources worth $55,967,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of CNQ. Assetmark Inc. increased its holdings in Canadian Natural Resources by 57.3% in the 4th quarter. Assetmark Inc. now owns 1,205 shares of the oil and gas producer's stock valued at $37,000 after purchasing an additional 439 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. raised its holdings in shares of Canadian Natural Resources by 10.2% in 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 purchasing an additional 480 shares in the last quarter. Orion Portfolio Solutions LLC boosted its position in shares of Canadian Natural Resources by 0.6% during the 4th quarter. Orion Portfolio Solutions LLC now owns 81,954 shares of the oil and gas producer's stock worth $2,530,000 after acquiring an additional 497 shares in the last quarter. Global Retirement Partners LLC increased its stake in Canadian Natural Resources by 4.5% in the fourth quarter. Global Retirement Partners LLC now owns 11,993 shares of the oil and gas producer's stock valued at $370,000 after purchasing an additional 514 shares during the last quarter. Finally, Waterfront Wealth Inc. boosted its stake in Canadian Natural Resources by 1.8% in the fourth quarter. Waterfront Wealth Inc. now owns 30,132 shares of the oil and gas producer's stock valued at $930,000 after acquiring an additional 520 shares in the last quarter. 74.03% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

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

Canadian Natural Resources Stock Down 1.9%

Shares of NYSE:CNQ traded down $0.60 during mid-day trading on Tuesday, hitting $31.52. 6,319,581 shares of the company traded hands, compared to its average volume of 5,731,747. The firm has a market cap of $65.94 billion, a P/E ratio of 12.36 and a beta of 1.03. Canadian Natural Resources Limited has a 52-week low of $24.65 and a 52-week high of $37.91. The firm's 50 day simple moving average is $30.68 and its 200 day simple moving average is $30.30. 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 posted its quarterly earnings data on Thursday, May 8th. The oil and gas producer reported $0.81 EPS for the quarter, beating analysts' consensus estimates of $0.73 by $0.08. Canadian Natural Resources had a net margin of 16.92% and a return on equity of 20.90%. The firm had revenue of $6.96 billion for the quarter, compared to the consensus estimate of $10.14 billion. During the same period in the prior year, the firm posted $1.37 EPS. On average, equities analysts anticipate that Canadian Natural Resources Limited will post 2.45 EPS for the current year.

Canadian Natural Resources Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, July 3rd. Investors of record on Friday, June 13th will be given a dividend of $0.4227 per share. This is a positive change from Canadian Natural Resources's previous quarterly dividend of $0.41. This represents a $1.69 annualized dividend and a dividend yield of 5.36%. The ex-dividend date is Friday, June 13th. Canadian Natural Resources's dividend payout ratio is currently 67.06%.

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).