Canoe Financial LP Has $145.83 Million Holdings in Canadian Natural Resources Limited (NYSE:CNQ)

Canoe Financial LP grew its holdings in Canadian Natural Resources Limited (NYSE:CNQ - Free Report) TSE: CNQ by 403.7% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 4,738,577 shares of the oil and gas producer's stock after acquiring an additional 3,797,846 shares during the quarter. Canadian Natural Resources accounts for about 2.3% of Canoe Financial LP's investment portfolio, making the stock its 16th largest holding. Canoe Financial LP owned about 0.23% of Canadian Natural Resources worth $145,828,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the business. FMR LLC lifted its holdings in shares of 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 valued at $2,857,337,000 after purchasing an additional 7,372,718 shares in the last quarter. Vanguard Group Inc. raised its position in Canadian Natural Resources by 0.5% in the 4th quarter. Vanguard Group Inc. now owns 90,002,235 shares of the oil and gas producer's stock valued at $2,778,729,000 after buying an additional 456,814 shares during the last quarter. Fisher Asset Management LLC lifted its stake in Canadian Natural Resources by 1.3% in the 4th quarter. Fisher Asset Management LLC now owns 44,131,266 shares of the oil and gas producer's stock valued at $1,362,332,000 after acquiring an additional 550,242 shares in the last quarter. Canada Pension Plan Investment Board boosted its position in Canadian Natural Resources by 5.3% during 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 last quarter. Finally, T. Rowe Price Investment Management Inc. grew its stake in shares of Canadian Natural Resources by 7.3% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 34,052,775 shares of the oil and gas producer's stock worth $1,051,210,000 after acquiring an additional 2,312,437 shares in the last quarter. 74.03% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

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

Canadian Natural Resources Stock Performance

CNQ stock traded down $0.60 during trading hours on Tuesday, reaching $31.52. The stock had a trading volume of 6,319,581 shares, compared to its average volume of 5,723,195. The stock has a 50-day simple moving average of $30.68 and a 200 day simple moving average of $30.30. Canadian Natural Resources Limited has a fifty-two week low of $24.65 and a fifty-two week high of $37.91. The stock has a market capitalization of $65.94 billion, a PE ratio of 12.36 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 (NYSE:CNQ - Get Free Report) TSE: CNQ last issued its earnings results on Thursday, May 8th. The oil and gas producer reported $0.81 earnings per share (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 company had revenue of $6.96 billion for the quarter, compared to analysts' expectations of $10.14 billion. During the same period in the prior year, the firm earned $1.37 EPS. Analysts predict that Canadian Natural Resources Limited will post 2.45 EPS for the current fiscal year.

Canadian Natural Resources Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, July 3rd. Stockholders of record on Friday, June 13th will be given a $0.4227 dividend. This represents a $1.69 dividend on an annualized basis and a dividend yield of 5.36%. This is a boost from Canadian Natural Resources's previous quarterly dividend of $0.41. The ex-dividend date of this dividend is Friday, June 13th. Canadian Natural Resources's dividend payout ratio (DPR) 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).