Gulf International Bank UK Ltd Has $3.73 Million Position in Canadian Natural Resources Limited (NYSE:CNQ)

Key Points

• Gulf International Bank UK Ltd significantly increased its holdings in Canadian Natural Resources Limited, boosting its position by 2,740.0% in the 1st quarter, now owning over 120,926 shares valued at approximately $3.7 million.
• Several institutional investors have also increased their stakes in Canadian Natural Resources, with Canada Pension Plan Investment Board and T. Rowe Price Investment Management increasing their holdings by 5.3% and 7.3% respectively during the 4th quarter.
• Canadian Natural Resources announced a quarterly dividend of $0.4269, an increase from their previous dividend, contributing to an annualized yield of 5.7%.

Gulf International Bank UK Ltd boosted its holdings in shares of Canadian Natural Resources Limited (NYSE:CNQ - Free Report) TSE: CNQ by 2,740.0% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 120,926 shares of the oil and gas producer's stock after purchasing an additional 116,668 shares during the period. Gulf International Bank UK Ltd's holdings in Canadian Natural Resources were worth $3,725,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in CNQ. Goldman Sachs Group Inc. lifted its stake in Canadian Natural Resources by 240.8% during the first quarter. Goldman Sachs Group Inc. now owns 22,776,594 shares of the oil and gas producer's stock worth $701,519,000 after purchasing an additional 16,094,168 shares during the period. Bank of Nova Scotia lifted its stake in Canadian Natural Resources by 86.6% during the first quarter. Bank of Nova Scotia now owns 24,262,707 shares of the oil and gas producer's stock worth $746,675,000 after purchasing an additional 11,259,267 shares during the period. Canoe Financial LP lifted its stake 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 purchasing an additional 3,797,846 shares during the period. T. Rowe Price Investment Management Inc. lifted its stake in Canadian Natural Resources by 7.3% during 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 period. Finally, Nuveen LLC bought a new position in Canadian Natural Resources during the first quarter worth about $68,342,000. Institutional investors own 74.03% of the company's stock.

Canadian Natural Resources Price Performance

Shares of NYSE:CNQ traded up $0.04 during trading on Friday, reaching $29.83. The stock had a trading volume of 3,142,682 shares, compared to its average volume of 4,632,908. 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 stock has a market capitalization of $62.32 billion, a PE ratio of 10.58 and a beta of 1.05. The business's 50-day moving average price is $31.68 and its 200 day moving average price is $30.34. Canadian Natural Resources Limited has a 52 week low of $24.65 and a 52 week high of $37.91.

Canadian Natural Resources (NYSE:CNQ - Get Free Report) TSE: CNQ last issued its quarterly earnings results on Thursday, August 7th. The oil and gas producer reported $0.51 earnings per share for the quarter, beating analysts' consensus estimates of $0.44 by $0.07. The business had revenue of $6.39 billion during the quarter, compared to analyst estimates of $8.97 billion. Canadian Natural Resources had a net margin of 19.00% and a return on equity of 19.67%. During the same quarter last year, the business posted $0.88 earnings per share. As a group, equities analysts predict that Canadian Natural Resources Limited will post 2.45 earnings per share for the current year.

Canadian Natural Resources Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, October 3rd. Investors of record on Friday, September 19th will be issued a $0.4269 dividend. This is an increase from Canadian Natural Resources's previous quarterly dividend of $0.42. This represents a $1.71 dividend on an annualized basis and a dividend yield of 5.7%. The ex-dividend date of this dividend is Friday, September 19th. Canadian Natural Resources's dividend payout ratio (DPR) is 60.64%.

Wall Street Analyst Weigh In

A number of brokerages have commented on CNQ. Royal Bank Of Canada cut their price target on shares of Canadian Natural Resources from $64.00 to $62.00 and set an "outperform" rating for the company in a research note on Friday, August 8th. Scotiabank reiterated an "outperform" rating on shares of Canadian Natural Resources in a research note on Friday, July 11th. Raymond James Financial reiterated an "outperform" rating on shares of Canadian Natural Resources in a research note on Friday, August 8th. Finally, National Bankshares reiterated a "sector perform" rating on shares of Canadian Natural Resources in a research note on Thursday, July 17th. Three research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, Canadian Natural Resources has a consensus rating of "Moderate Buy" and an average price target of $62.00.

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).