Goehring & Rozencwajg Associates LLC Has $16.23 Million Stock Holdings in Canadian Natural Resources Limited (NYSE:CNQ)

Goehring & Rozencwajg Associates LLC lifted its holdings in shares of Canadian Natural Resources Limited (NYSE:CNQ - Free Report) TSE: CNQ by 2.8% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 526,765 shares of the oil and gas producer's stock after acquiring an additional 14,421 shares during the quarter. Canadian Natural Resources accounts for about 3.0% of Goehring & Rozencwajg Associates LLC's investment portfolio, making the stock its 9th biggest position. Goehring & Rozencwajg Associates LLC's holdings in Canadian Natural Resources were worth $16,231,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. FMR LLC increased its position in Canadian Natural Resources by 8.7% in the fourth quarter. FMR LLC now owns 92,550,104 shares of the oil and gas producer's stock worth $2,857,337,000 after buying an additional 7,372,718 shares during the period. Vanguard Group Inc. grew its position in shares of Canadian Natural Resources by 0.5% during the fourth quarter. Vanguard Group Inc. now owns 90,002,235 shares of the oil and gas producer's stock worth $2,778,729,000 after acquiring an additional 456,814 shares during the last quarter. Canada Pension Plan Investment Board increased its holdings in shares of Canadian Natural Resources by 5.3% in the 4th quarter. Canada Pension Plan Investment Board now owns 36,963,702 shares of the oil and gas producer's stock worth $1,139,753,000 after acquiring an additional 1,844,700 shares during the period. T. Rowe Price Investment Management Inc. lifted its position in Canadian Natural Resources by 7.3% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 34,052,775 shares of the oil and gas producer's stock valued at $1,051,210,000 after purchasing an additional 2,312,437 shares during the last quarter. Finally, Mackenzie Financial Corp boosted its stake in Canadian Natural Resources by 4.9% during the 4th quarter. Mackenzie Financial Corp now owns 31,580,717 shares of the oil and gas producer's stock valued at $973,976,000 after purchasing an additional 1,464,807 shares during the period. 74.03% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

CNQ has been the subject of several analyst reports. Raymond James Financial upgraded Canadian Natural Resources from a "market perform" rating to an "outperform" rating in a research report on Wednesday, April 9th. Royal Bank Of Canada reiterated an "outperform" rating and set a $63.00 price objective on shares of Canadian Natural Resources in a research report on Thursday, March 27th. Finally, Scotiabank upgraded Canadian Natural Resources from a "sector perform" rating to a "sector outperform" rating in a research report on Wednesday, March 19th. Three research 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 currently has a consensus rating of "Moderate Buy" and an average target price of $63.00.

Canadian Natural Resources Trading Down 1.4%

Shares of Canadian Natural Resources stock traded down $0.45 on Monday, hitting $31.77. 3,407,704 shares of the company's stock traded hands, compared to its average volume of 5,785,945. The firm's 50-day moving average price is $31.23 and its two-hundred day moving average price is $30.34. The stock has a market capitalization of $66.46 billion, a PE ratio of 12.46 and a beta of 1.03. The company has a debt-to-equity ratio of 0.40, a current ratio of 0.84 and a quick ratio of 0.53. 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 quarterly earnings results on Thursday, May 8th. The oil and gas producer reported $0.81 earnings per share for the quarter, topping 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 company had revenue of $6.96 billion for the quarter, compared to analysts' expectations of $10.14 billion. During the same period last year, the firm posted $1.37 earnings per share. On average, research analysts expect that Canadian Natural Resources Limited will post 2.45 EPS for the current fiscal year.

Canadian Natural Resources Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, July 3rd. Investors of record on Friday, June 13th were issued a dividend of $0.4227 per share. This is a boost from Canadian Natural Resources's previous quarterly dividend of $0.41. The ex-dividend date of this dividend was Friday, June 13th. This represents a $1.69 annualized dividend and a yield of 5.32%. Canadian Natural Resources's dividend payout ratio is presently 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).