Lincluden Management Ltd. Purchases 635,393 Shares of Canadian Natural Resources Limited $CNQ

Key Points

• Lincluden Management Ltd. significantly increased its stake in Canadian Natural Resources Limited by 562.7%, acquiring an additional 635,393 shares, bringing its total to 748,302 shares.
• Canadian Natural Resources plans to pay a quarterly dividend of $0.4269 per share, resulting in an annualized yield of 5.4%, marking an increase from the previous dividend.
• Equities analysts have a consensus rating of "Moderate Buy" for Canadian Natural Resources, with a current average price target of $62.00 per share.

Lincluden Management Ltd. lifted its position in Canadian Natural Resources Limited (NYSE:CNQ - Free Report) TSE: CNQ by 562.7% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 748,302 shares of the oil and gas producer's stock after purchasing an additional 635,393 shares during the quarter. Canadian Natural Resources accounts for approximately 2.6% of Lincluden Management Ltd.'s holdings, making the stock its 15th biggest holding. Lincluden Management Ltd.'s holdings in Canadian Natural Resources were worth $23,497,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in the company. MAI Capital Management grew its holdings in shares of Canadian Natural Resources by 9.6% in the 1st quarter. MAI Capital Management now owns 4,365 shares of the oil and gas producer's stock worth $134,000 after purchasing an additional 382 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. grew its holdings in shares of Canadian Natural Resources by 8.7% in the 2nd quarter. Thurston Springer Miller Herd & Titak Inc. now owns 5,613 shares of the oil and gas producer's stock worth $176,000 after purchasing an additional 448 shares during the last quarter. Moody National Bank Trust Division grew its holdings in shares of Canadian Natural Resources by 4.6% in the 2nd quarter. Moody National Bank Trust Division now owns 11,081 shares of the oil and gas producer's stock worth $348,000 after purchasing an additional 492 shares during the last quarter. PDS Planning Inc grew its holdings in shares of Canadian Natural Resources by 5.1% in the 2nd quarter. PDS Planning Inc now owns 10,798 shares of the oil and gas producer's stock worth $339,000 after purchasing an additional 520 shares during the last quarter. Finally, Geneos Wealth Management Inc. grew its holdings in Canadian Natural Resources by 47.3% during the 1st quarter. Geneos Wealth Management Inc. now owns 1,644 shares of the oil and gas producer's stock worth $51,000 after acquiring an additional 528 shares during the last quarter. Institutional investors own 74.03% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts have commented on CNQ shares. Scotiabank reissued an "outperform" rating on shares of Canadian Natural Resources in a report on Thursday. National Bankshares reissued a "sector perform" rating on shares of Canadian Natural Resources in a report on Thursday, July 17th. Zacks Research raised shares of Canadian Natural Resources from a "hold" rating to a "strong-buy" rating in a report on Tuesday, August 26th. Weiss Ratings reissued a "hold (c)" rating on shares of Canadian Natural Resources in a report on Wednesday. Finally, TD Securities reissued a "buy" rating on shares of Canadian Natural Resources in a report on Tuesday, September 30th. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $62.00.

Canadian Natural Resources Stock Performance

Canadian Natural Resources stock opened at $31.43 on Friday. The company has a current ratio of 0.85, a quick ratio of 0.54 and a debt-to-equity ratio of 0.38. Canadian Natural Resources Limited has a 1 year low of $24.65 and a 1 year high of $37.91. The company has a market cap of $65.59 billion, a PE ratio of 11.14 and a beta of 0.97. The company's 50-day moving average is $31.33 and its two-hundred day moving average is $30.86.

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

Canadian Natural Resources Increases Dividend

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

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).

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