Canadian Natural Resources Limited (NYSE:CNQ) Shares Acquired by PCJ Investment Counsel Ltd.

Key Points

• PCJ Investment Counsel Ltd. increased its stake in Canadian Natural Resources Limited by 125.9%, owning 268,230 shares valued at approximately $8.25 million, making it the firm's 7th largest holding.
• Analysts have a consensus rating of "Moderate Buy" for CNQ with a price target of $63.00, following various ratings and assessments from major banks.
• As of the most recent reporting, 74.03% of Canadian Natural Resources' stock is held by hedge funds and institutional investors, indicating strong institutional interest in the company.

PCJ Investment Counsel Ltd. raised its stake in Canadian Natural Resources Limited (NYSE:CNQ - Free Report) TSE: CNQ by 125.9% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 268,230 shares of the oil and gas producer's stock after purchasing an additional 149,500 shares during the quarter. Canadian Natural Resources comprises approximately 3.2% of PCJ Investment Counsel Ltd.'s holdings, making the stock its 7th biggest holding. PCJ Investment Counsel Ltd.'s holdings in Canadian Natural Resources were worth $8,255,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the stock. Thurston Springer Miller Herd & Titak Inc. boosted 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 during the last quarter. AdvisorNet Financial Inc lifted its holdings 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 acquiring an additional 525 shares in the last quarter. MML Investors Services LLC lifted its holdings 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 acquiring an additional 528 shares in the last quarter. Peak Financial Advisors LLC lifted its holdings 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 acquiring an additional 557 shares in the last quarter. Finally, Investment Management Corp VA ADV lifted its holdings 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 acquiring an additional 611 shares in the last quarter. Institutional investors and hedge funds own 74.03% of the company's stock.

Analyst Upgrades and Downgrades

CNQ has been the topic of several recent research reports. National Bankshares restated a "sector perform" rating on shares of Canadian Natural Resources in a report on Thursday, July 17th. Raymond James Financial restated an "outperform" rating on shares of Canadian Natural Resources in a report on Friday. Royal Bank Of Canada reduced their target price on shares of Canadian Natural Resources from $64.00 to $62.00 and set an "outperform" rating on the stock in a report on Friday. Finally, Scotiabank restated an "outperform" rating on shares of Canadian Natural Resources in a report on Friday, July 11th. Three research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, Canadian Natural Resources has an average rating of "Moderate Buy" and a consensus target price of $62.00.

Canadian Natural Resources Stock Down 0.4%

Canadian Natural Resources stock traded down $0.11 during midday trading on Friday, hitting $30.32. 7,039,371 shares of the stock were exchanged, compared to its average volume of 4,555,332. Canadian Natural Resources Limited has a 1 year low of $24.65 and a 1 year high of $37.91. The firm has a market cap of $63.39 billion, a P/E ratio of 10.75 and a beta of 1.05. The company has a debt-to-equity ratio of 0.40, a current ratio of 0.84 and a quick ratio of 0.53. The company has a 50 day moving average price of $31.80 and a two-hundred day moving average price of $30.38.

Canadian Natural Resources (NYSE:CNQ - Get Free Report) TSE: CNQ last released its quarterly earnings results on Thursday, August 7th. The oil and gas producer reported $0.51 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.44 by $0.07. The firm had revenue of $6.39 billion for the quarter, compared to the consensus estimate of $8.97 billion. Canadian Natural Resources had a net margin of 19.00% and a return on equity of 19.87%. During the same quarter in the previous year, the firm posted $0.88 EPS. On average, sell-side 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 business also recently announced a quarterly dividend, which will be paid on Friday, October 3rd. Stockholders of record on Friday, September 19th will be given a $0.4269 dividend. This represents a $1.71 annualized dividend and a dividend yield of 5.6%. The ex-dividend date of this dividend is Friday, September 19th. This is an increase from Canadian Natural Resources's previous quarterly dividend of $0.42. Canadian Natural Resources's payout ratio is presently 67.06%.

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).