Canadian Natural Resources Limited (NYSE:CNQ) Stock Position Lifted by Charles Schwab Investment Management Inc.

Key Points

• Charles Schwab Investment Management Inc. increased its stake in Canadian Natural Resources Limited by 5.4%, now owning approximately 6.17 million shares worth $189.9 million.
• Significant increases in holdings were also reported by other institutional investors, with Goldman Sachs and Bank of Nova Scotia boosting their positions by 240.8% and 86.6% respectively.
• Canadian Natural Resources declared a quarterly dividend of $0.4269, marking a rise from the previous $0.42, resulting in an annualized yield of 5.6%.

Charles Schwab Investment Management Inc. lifted its stake in shares of Canadian Natural Resources Limited (NYSE:CNQ - Free Report) TSE: CNQ by 5.4% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 6,172,828 shares of the oil and gas producer's stock after acquiring an additional 318,298 shares during the period. Charles Schwab Investment Management Inc. owned 0.29% of Canadian Natural Resources worth $189,915,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of CNQ. Thurston Springer Miller Herd & Titak Inc. grew its position in Canadian Natural Resources by 10.2% during the first 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 buying an additional 480 shares during the period. AdvisorNet Financial Inc lifted its position in Canadian Natural Resources by 8.0% during the first quarter. AdvisorNet Financial Inc now owns 7,065 shares of the oil and gas producer's stock valued at $218,000 after buying an additional 525 shares during the period. MML Investors Services LLC raised its position in shares of Canadian Natural Resources by 1.0% in the 4th quarter. MML Investors Services LLC now owns 55,045 shares of the oil and gas producer's stock worth $1,699,000 after purchasing an additional 528 shares during the last quarter. Peak Financial Advisors LLC raised its position in shares of Canadian Natural Resources by 0.7% in the 1st quarter. Peak Financial Advisors LLC now owns 77,253 shares of the oil and gas producer's stock worth $2,379,000 after purchasing an additional 557 shares during the last quarter. Finally, Investment Management Corp VA ADV raised its position in Canadian Natural Resources by 158.3% in the 1st quarter. Investment Management Corp VA ADV now owns 997 shares of the oil and gas producer's stock worth $31,000 after buying an additional 611 shares during the last quarter. Institutional investors and hedge funds own 74.03% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms have issued reports on CNQ. National Bankshares restated a "sector perform" rating on shares of Canadian Natural Resources in a research note on Thursday, July 17th. Royal Bank Of Canada decreased their price target on Canadian Natural Resources from $64.00 to $62.00 and set an "outperform" rating on the stock in a report on Friday. Raymond James Financial reaffirmed an "outperform" rating on shares of Canadian Natural Resources in a research report on Friday. Finally, Scotiabank reissued an "outperform" rating on shares of Canadian Natural Resources in a research report on Friday, July 11th. Three equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company's stock. According to MarketBeat, Canadian Natural Resources currently has a consensus rating of "Moderate Buy" and an average target price of $62.00.

Canadian Natural Resources Stock Performance

CNQ stock traded down $0.03 during trading on Tuesday, hitting $29.89. 4,383,647 shares of the company traded hands, compared to its average volume of 4,609,677. The stock's 50-day simple moving average is $31.78 and its 200 day simple moving average is $30.36. The company has a debt-to-equity ratio of 0.38, a current ratio of 0.85 and a quick ratio of 0.54. The company has a market cap of $62.44 billion, a PE ratio of 10.60 and a beta of 1.05. 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 released its quarterly earnings data on Thursday, August 7th. The oil and gas producer reported $0.51 earnings per share for the quarter, topping analysts' consensus estimates of $0.44 by $0.07. Canadian Natural Resources had a return on equity of 19.67% and a net margin of 19.00%. The company had revenue of $6.39 billion for the quarter, compared to analyst estimates of $8.97 billion. During the same quarter in the previous year, the company posted $0.88 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 Friday, October 3rd. Stockholders of record on Friday, September 19th will be issued a $0.4269 dividend. This represents a $1.71 dividend on an annualized basis and a dividend yield of 5.7%. This is a positive change from Canadian Natural Resources's previous quarterly dividend of $0.42. The ex-dividend date of this dividend is Friday, September 19th. Canadian Natural Resources's payout ratio is presently 60.64%.

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).