Klein Pavlis & Peasley Financial Inc. Acquires 16,536 Shares of Canadian Natural Resources Limited (NYSE:CNQ)

Key Points

• Klein Pavlis & Peasley Financial Inc. increased its holdings in Canadian Natural Resources Limited by 51.9%, now owning a total of 48,381 shares worth approximately $1.5 million.
• Canadian Natural Resources reported $0.81 earnings per share for the last quarter, surpassing analysts' expectations of $0.73, despite a revenue of $6.96 billion which fell below forecasts.
• The company announced an increase in its **quarterly dividend** to $0.4227 per share, reflecting a 5.5% yield with a payout ratio of 67.06%.

Klein Pavlis & Peasley Financial Inc. lifted its holdings in Canadian Natural Resources Limited (NYSE:CNQ - Free Report) TSE: CNQ by 51.9% during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 48,381 shares of the oil and gas producer's stock after purchasing an additional 16,536 shares during the period. Klein Pavlis & Peasley Financial Inc.'s holdings in Canadian Natural Resources were worth $1,515,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in CNQ. FMR LLC lifted its stake in shares of Canadian Natural Resources by 8.7% in the 4th quarter. FMR LLC now owns 92,550,104 shares of the oil and gas producer's stock worth $2,857,337,000 after purchasing an additional 7,372,718 shares during the period. Canoe Financial LP raised its stake in Canadian Natural Resources by 403.7% during the 1st 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 period. Geode Capital Management LLC raised its stake in Canadian Natural Resources by 30.1% during the 4th quarter. Geode Capital Management LLC now owns 12,708,163 shares of the oil and gas producer's stock worth $400,222,000 after acquiring an additional 2,939,866 shares during the period. T. Rowe Price Investment Management Inc. raised its stake in Canadian Natural Resources by 7.3% during the 4th 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 acquiring an additional 2,312,437 shares during the period. Finally, Canada Pension Plan Investment Board raised its stake in Canadian Natural Resources by 5.3% during the 4th quarter. Canada Pension Plan Investment Board now owns 36,963,702 shares of the oil and gas producer's stock worth $1,139,753,000 after acquiring an additional 1,844,700 shares during the period. Institutional investors own 74.03% of the company's stock.

Canadian Natural Resources Trading Down 2.2%

Shares of CNQ opened at $30.99 on Friday. The company has a debt-to-equity ratio of 0.40, a current ratio of 0.84 and a quick ratio of 0.53. Canadian Natural Resources Limited has a 1 year low of $24.65 and a 1 year high of $37.91. The company has a 50 day simple moving average of $31.80 and a two-hundred day simple moving average of $30.40. The firm has a market cap of $64.79 billion, a P/E ratio of 12.15 and a beta of 1.03.

Canadian Natural Resources (NYSE:CNQ - Get Free Report) TSE: CNQ last announced its quarterly earnings data 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. Canadian Natural Resources had a net margin of 16.92% and a return on equity of 20.90%. The business had revenue of $6.96 billion during the quarter, compared to analyst estimates of $10.14 billion. During the same period last year, the firm posted $1.37 EPS. On average, equities analysts expect 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 disclosed a quarterly dividend, which was paid on Thursday, July 3rd. Shareholders of record on Friday, June 13th were issued a dividend of $0.4227 per share. This is an increase from Canadian Natural Resources's previous quarterly dividend of $0.41. The ex-dividend date of this dividend was Friday, June 13th. This represents a $1.69 dividend on an annualized basis and a yield of 5.5%. Canadian Natural Resources's payout ratio is 67.06%.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on CNQ shares. Scotiabank restated an "outperform" rating on shares of Canadian Natural Resources in a research note on Friday, July 11th. National Bankshares restated a "sector perform" rating on shares of Canadian Natural Resources in a research note on Thursday, July 17th. Finally, Raymond James Financial upgraded shares of Canadian Natural Resources from a "market perform" rating to an "outperform" rating in a research note on Wednesday, April 9th. Three research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $63.00.

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).

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