Golden State Wealth Management LLC Grows Stake in Canadian Natural Resources Limited (NYSE:CNQ)

Golden State Wealth Management LLC raised its stake in shares of Canadian Natural Resources Limited (NYSE:CNQ - Free Report) TSE: CNQ by 99.7% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 22,400 shares of the oil and gas producer's stock after buying an additional 11,181 shares during the quarter. Golden State Wealth Management LLC's holdings in Canadian Natural Resources were worth $690,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of CNQ. Oppenheimer & Co. Inc. boosted its stake in shares of Canadian Natural Resources by 54.7% during the 1st quarter. Oppenheimer & Co. Inc. now owns 48,964 shares of the oil and gas producer's stock worth $1,508,000 after purchasing an additional 17,308 shares during the last quarter. Intact Investment Management Inc. raised its position in shares of Canadian Natural Resources by 86.4% in the first quarter. Intact Investment Management Inc. now owns 1,818,610 shares of the oil and gas producer's stock valued at $55,967,000 after buying an additional 842,730 shares during the last quarter. Jamison Private Wealth Management Inc. lifted its stake in shares of Canadian Natural Resources by 29.9% during the first quarter. Jamison Private Wealth Management Inc. now owns 15,228 shares of the oil and gas producer's stock valued at $469,000 after buying an additional 3,509 shares during the period. Canoe Financial LP boosted its position in Canadian Natural Resources by 403.7% during the first quarter. Canoe Financial LP now owns 4,738,577 shares of the oil and gas producer's stock worth $145,828,000 after acquiring an additional 3,797,846 shares during the last quarter. Finally, Institute for Wealth Management LLC. acquired a new stake in Canadian Natural Resources during the first quarter worth approximately $385,000. Institutional investors and hedge funds own 74.03% of the company's stock.

Wall Street Analysts Forecast Growth

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

Canadian Natural Resources Trading Down 1.5%

Shares of NYSE CNQ traded down $0.47 during trading on Friday, hitting $31.45. 7,307,120 shares of the company traded hands, compared to its average volume of 5,757,688. The firm has a market capitalization of $65.78 billion, a P/E ratio of 12.33 and a beta of 1.03. The company has a quick ratio of 0.53, a current ratio of 0.84 and a debt-to-equity ratio of 0.40. The company has a 50-day moving average price of $30.89 and a 200-day moving average price of $30.32. 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 posted its quarterly 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. The firm had revenue of $6.96 billion during the quarter, compared to the consensus estimate 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 quarter in the previous year, the business earned $1.37 earnings per share. On average, equities analysts predict that Canadian Natural Resources Limited will post 2.45 EPS for the current year.

Canadian Natural Resources Increases Dividend

The firm also recently announced 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 represents a $1.69 dividend on an annualized basis and a yield of 5.38%. The ex-dividend date of this dividend is Friday, June 13th. This is an increase from Canadian Natural Resources's previous quarterly dividend of $0.41. Canadian Natural Resources's dividend payout ratio is 67.06%.

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).