Harvest Portfolios Group Inc. Has $4.64 Million Stock Holdings in Canadian Natural Resources Limited $CNQ

Key Points

• Harvest Portfolios Group Inc. increased its stake in Canadian Natural Resources Limited by 5.7% in the first quarter, now owning 150,663 shares valued at approximately $4.6 million.
• The company announced a quarterly dividend increase to $0.4269 per share, reflecting a yield of 5.5%.
• Analysts generally maintain an "outperform" rating for Canadian Natural Resources, with a consensus price target of $62.00 per share.

Harvest Portfolios Group Inc. grew its stake in Canadian Natural Resources Limited (NYSE:CNQ - Free Report) TSE: CNQ by 5.7% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 150,663 shares of the oil and gas producer's stock after buying an additional 8,181 shares during the period. Harvest Portfolios Group Inc.'s holdings in Canadian Natural Resources were worth $4,636,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Thurston Springer Miller Herd & Titak Inc. lifted its position in shares of Canadian Natural Resources by 10.2% in the first quarter. Thurston Springer Miller Herd & Titak Inc. now owns 5,165 shares of the oil and gas producer's stock worth $159,000 after buying an additional 480 shares during the last quarter. AdvisorNet Financial Inc lifted its position in shares of Canadian Natural Resources by 8.0% during the 1st quarter. AdvisorNet Financial Inc now owns 7,065 shares of the oil and gas producer's stock worth $218,000 after purchasing an additional 525 shares during the last quarter. MML Investors Services LLC lifted its position in shares of Canadian Natural Resources by 1.0% during 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 lifted its position in shares of Canadian Natural Resources by 0.7% during 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 lifted its position in shares of Canadian Natural Resources by 158.3% during the 1st quarter. Investment Management Corp VA ADV now owns 997 shares of the oil and gas producer's stock worth $31,000 after purchasing an additional 611 shares during the last quarter. Institutional investors and hedge funds own 74.03% of the company's stock.

Canadian Natural Resources Price Performance

Shares of CNQ stock traded up $0.19 during trading hours on Friday, hitting $31.68. The company had a trading volume of 6,081,073 shares, compared to its average volume of 5,735,944. 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 $66.17 billion, a price-to-earnings ratio of 11.23 and a beta of 1.05. The firm's fifty day moving average is $31.17 and its 200 day moving average is $30.34. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.54 and a current ratio of 0.85.

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, beating the consensus estimate 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 period in the prior year, the company posted $0.88 EPS. On average, sell-side analysts predict that Canadian Natural Resources Limited will post 2.45 EPS for the current fiscal year.

Canadian Natural Resources Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 3rd. Investors of record on Friday, September 19th will be given a dividend of $0.4269 per share. This is a boost from Canadian Natural Resources's previous quarterly dividend of $0.42. The ex-dividend date is Friday, September 19th. This represents a $1.71 dividend on an annualized basis and a yield of 5.4%. Canadian Natural Resources's dividend payout ratio is currently 60.64%.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on CNQ shares. Scotiabank reissued an "outperform" rating on shares of Canadian Natural Resources in a research report on Friday, July 11th. Zacks Research raised Canadian Natural Resources from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, August 26th. Raymond James Financial reissued an "outperform" rating on shares of Canadian Natural Resources in a research report on Friday, August 8th. National Bankshares restated a "sector perform" rating on shares of Canadian Natural Resources in a research note on Thursday, July 17th. Finally, Royal Bank Of Canada lowered their price target on Canadian Natural Resources from $64.00 to $62.00 and set an "outperform" rating on the stock in a research note on Friday, August 8th. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $62.00.

Canadian Natural Resources Company 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).