Dividend Assets Capital LLC Has $12.44 Million Stock Position in Canadian Natural Resources Limited (NYSE:CNQ)

Dividend Assets Capital LLC lifted its position in Canadian Natural Resources Limited (NYSE:CNQ - Free Report) TSE: CNQ by 32.1% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 403,972 shares of the oil and gas producer's stock after buying an additional 98,096 shares during the quarter. Canadian Natural Resources comprises approximately 2.4% of Dividend Assets Capital LLC's holdings, making the stock its 12th biggest position. Dividend Assets Capital LLC's holdings in Canadian Natural Resources were worth $12,442,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in CNQ. Assetmark Inc. lifted its position in shares of Canadian Natural Resources by 57.3% in the fourth quarter. Assetmark Inc. now owns 1,205 shares of the oil and gas producer's stock valued at $37,000 after buying an additional 439 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. raised its stake in 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 acquiring an additional 480 shares during the period. Orion Portfolio Solutions LLC raised its stake in Canadian Natural Resources by 0.6% in the 4th quarter. Orion Portfolio Solutions LLC now owns 81,954 shares of the oil and gas producer's stock valued at $2,530,000 after acquiring an additional 497 shares during the period. Global Retirement Partners LLC lifted its holdings in Canadian Natural Resources by 4.5% during the 4th quarter. Global Retirement Partners LLC now owns 11,993 shares of the oil and gas producer's stock valued at $370,000 after purchasing an additional 514 shares during the last quarter. Finally, Waterfront Wealth Inc. boosted its position in Canadian Natural Resources by 1.8% during the fourth quarter. Waterfront Wealth Inc. now owns 30,132 shares of the oil and gas producer's stock worth $930,000 after purchasing an additional 520 shares during the period. 74.03% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the stock. Evercore ISI upgraded shares of Canadian Natural Resources from an "in-line" rating to an "outperform" rating in a report on Friday, March 7th. Royal Bank of Canada reiterated an "outperform" rating and issued a $63.00 price target on shares of Canadian Natural Resources in a research note on Thursday, March 27th. Tudor Pickering downgraded shares of Canadian Natural Resources from a "strong-buy" rating to a "hold" rating in a research report on Monday, February 10th. Raymond James raised Canadian Natural Resources from a "market perform" rating to an "outperform" rating in a research report on Wednesday, April 9th. Finally, Scotiabank raised Canadian Natural Resources from a "sector perform" rating to a "sector outperform" rating in a report on Wednesday, March 19th. Three investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, Canadian Natural Resources presently has a consensus rating of "Moderate Buy" and an average price target of $63.00.

Canadian Natural Resources Stock Performance

NYSE CNQ traded up $0.57 during trading on Tuesday, reaching $32.19. The company's stock had a trading volume of 5,337,149 shares, compared to its average volume of 5,580,480. The firm has a 50 day moving average price of $29.46 and a 200 day moving average price of $30.32. Canadian Natural Resources Limited has a 12 month low of $24.65 and a 12 month high of $37.91. The firm has a market capitalization of $67.43 billion, a price-to-earnings ratio of 12.50 and a beta of 1.03. The company has a current ratio of 0.84, a quick ratio of 0.53 and a debt-to-equity ratio of 0.21.

Canadian Natural Resources (NYSE:CNQ - Get Free Report) TSE: CNQ last issued its quarterly earnings results on Thursday, May 8th. The oil and gas producer reported $0.81 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.73 by $0.08. Canadian Natural Resources had a return on equity of 20.07% and a net margin of 18.45%. The business had revenue of $6.96 billion during the quarter, compared to analysts' expectations of $10.14 billion. During the same period in the previous year, the company posted $1.37 earnings per share. As a group, equities analysts anticipate that Canadian Natural Resources Limited will post 2.45 EPS for the current fiscal year.

Canadian Natural Resources Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, July 3rd. Stockholders of record on Friday, June 13th will be issued a dividend of $0.4227 per share. This is a positive change from Canadian Natural Resources's previous quarterly dividend of $0.41. This represents a $1.69 annualized dividend and a dividend yield of 5.25%. The ex-dividend date of this dividend is Friday, June 13th. Canadian Natural Resources's dividend payout ratio is 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).