Investment Management Associates Inc. ADV Grows Stock Position in Canadian Natural Resources Limited (NYSE:CNQ)

Investment Management Associates Inc. ADV lifted its holdings in shares of Canadian Natural Resources Limited (NYSE:CNQ - Free Report) TSE: CNQ by 31.6% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 324,106 shares of the oil and gas producer's stock after acquiring an additional 77,818 shares during the quarter. Canadian Natural Resources makes up 4.1% of Investment Management Associates Inc. ADV's portfolio, making the stock its 11th biggest position. Investment Management Associates Inc. ADV's holdings in Canadian Natural Resources were worth $9,982,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. FMR LLC lifted its position in Canadian Natural Resources by 8.7% during the fourth quarter. FMR LLC now owns 92,550,104 shares of the oil and gas producer's stock valued at $2,857,337,000 after buying an additional 7,372,718 shares during the period. Summit Financial LLC bought a new position in shares of Canadian Natural Resources in the 4th quarter worth about $267,000. Janney Montgomery Scott LLC purchased a new position in Canadian Natural Resources during the 1st quarter valued at about $757,000. PKO Investment Management Joint Stock Co bought a new stake in Canadian Natural Resources during the fourth quarter worth about $2,452,000. Finally, Baskin Financial Services Inc. grew its holdings in Canadian Natural Resources by 0.9% in the first quarter. Baskin Financial Services Inc. now owns 1,005,012 shares of the oil and gas producer's stock worth $30,921,000 after purchasing an additional 8,861 shares during the period. Institutional investors own 74.03% of the company's stock.

Analyst Ratings Changes

Several equities analysts have recently issued reports on CNQ shares. Royal Bank Of Canada reiterated an "outperform" rating and set a $63.00 target price on shares of Canadian Natural Resources in a report on Thursday, March 27th. Raymond James Financial upgraded Canadian Natural Resources from a "market perform" rating to an "outperform" rating in a research note on Wednesday, April 9th. Finally, Scotiabank raised Canadian Natural Resources from a "sector perform" rating to a "sector outperform" rating in a research note on Wednesday, March 19th. Three investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, Canadian Natural Resources presently has a consensus rating of "Moderate Buy" and a consensus price target of $63.00.

Canadian Natural Resources Stock Up 0.9%

Shares of CNQ traded up $0.30 on Friday, hitting $32.09. 4,805,822 shares of the stock traded hands, compared to its average volume of 5,797,558. The company has a market capitalization of $67.12 billion, a PE ratio of 12.58 and a beta of 1.03. Canadian Natural Resources Limited has a one year low of $24.65 and a one year high of $37.91. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.53 and a current ratio of 0.84. The business has a 50 day simple moving average of $31.51 and a 200 day simple moving average of $30.40.

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 for the quarter, topping the consensus estimate of $0.73 by $0.08. The firm had revenue of $6.96 billion during the quarter, compared to analysts' expectations 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. As a group, equities analysts forecast 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 announced a quarterly dividend, which was paid on Thursday, July 3rd. Shareholders of record on Friday, June 13th were paid a dividend of $0.4227 per share. The ex-dividend date of this dividend was Friday, June 13th. This represents a $1.69 annualized dividend and a yield of 5.27%. This is a boost from Canadian Natural Resources's previous quarterly dividend of $0.41. Canadian Natural Resources's dividend payout ratio is currently 67.06%.

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).