Canoe Financial LP Increases Stake in Canadian Natural Resources Limited (NYSE:CNQ)

Canoe Financial LP raised its holdings in Canadian Natural Resources Limited (NYSE:CNQ - Free Report) TSE: CNQ by 403.7% in the first quarter, according to the company in its most recent disclosure with the SEC. The fund owned 4,738,577 shares of the oil and gas producer's stock after buying an additional 3,797,846 shares during the quarter. Canadian Natural Resources comprises 2.3% of Canoe Financial LP's holdings, making the stock its 16th largest position. Canoe Financial LP owned 0.23% of Canadian Natural Resources worth $145,828,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. FMR LLC raised its stake 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 valued at $2,857,337,000 after buying an additional 7,372,718 shares during the last quarter. Vanguard Group Inc. raised its stake in Canadian Natural Resources by 0.5% in the fourth 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 raised its stake in shares of Canadian Natural Resources by 1.3% in the fourth quarter. Fisher Asset Management LLC now owns 44,131,266 shares of the oil and gas producer's stock worth $1,362,332,000 after purchasing an additional 550,242 shares during the last quarter. Canada Pension Plan Investment Board raised its stake in shares of Canadian Natural Resources by 5.3% in the fourth 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 purchasing an additional 1,844,700 shares during the last quarter. Finally, T. Rowe Price Investment Management Inc. raised its stake in shares of Canadian Natural Resources by 7.3% in the fourth 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 purchasing an additional 2,312,437 shares during the last quarter. 74.03% of the stock is currently owned by hedge funds and other institutional investors.

Canadian Natural Resources Stock Performance

CNQ stock traded down $0.18 during trading on Friday, hitting $33.42. 12,283,177 shares of the company traded hands, compared to its average volume of 5,695,099. The stock's 50-day simple moving average is $30.59 and its 200 day simple moving average is $30.32. 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 market cap of $69.90 billion, a PE ratio of 13.11 and a beta of 1.03. Canadian Natural Resources Limited has a 1 year low of $24.65 and a 1 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, beating the consensus estimate of $0.73 by $0.08. The company had revenue of $6.96 billion during the quarter, compared to analysts' expectations of $10.14 billion. Canadian Natural Resources had a return on equity of 20.90% and a net margin of 16.92%. During the same period last year, the business earned $1.37 earnings per share. On average, equities analysts expect 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 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 boost from Canadian Natural Resources's previous quarterly dividend of $0.41. This represents a $1.69 annualized dividend and a yield of 5.06%. The ex-dividend date of this dividend is Friday, June 13th. Canadian Natural Resources's dividend payout ratio (DPR) is currently 67.06%.

Analyst Ratings Changes

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

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).