Canadian Natural Resources Limited (NYSE:CNQ) is Mackenzie Financial Corp's 8th Largest Position

Key Points

• Mackenzie Financial Corp increased its holdings in Canadian Natural Resources Limited by 4.8% during the 1st quarter, acquiring an additional 1,519,523 shares, bringing its total to approximately 33.1 million shares.
• Institutional investors collectively own 74.03% of Canadian Natural Resources, with several funds significantly increasing their stakes in the company during the same period.
• Canadian Natural Resources has recently raised its quarterly dividend to $0.4227 per share, resulting in an annualized dividend of $1.69 and a yield of 5.39%.

Mackenzie Financial Corp boosted its holdings in shares of Canadian Natural Resources Limited (NYSE:CNQ - Free Report) TSE: CNQ by 4.8% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 33,100,240 shares of the oil and gas producer's stock after purchasing an additional 1,519,523 shares during the quarter. Canadian Natural Resources comprises 1.4% of Mackenzie Financial Corp's portfolio, making the stock its 8th biggest holding. Mackenzie Financial Corp owned 1.58% of Canadian Natural Resources worth $1,018,469,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Hurley Capital LLC purchased a new position in shares of Canadian Natural Resources in the 4th quarter worth approximately $31,000. Investment Management Corp VA ADV boosted its holdings in shares of Canadian Natural Resources by 158.3% in 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 period. Versant Capital Management Inc boosted its holdings in shares of Canadian Natural Resources by 253.2% in the 1st quarter. Versant Capital Management Inc now owns 1,307 shares of the oil and gas producer's stock worth $40,000 after purchasing an additional 937 shares during the period. Huntington National Bank boosted its holdings in shares of Canadian Natural Resources by 64.1% in the 4th quarter. Huntington National Bank now owns 1,493 shares of the oil and gas producer's stock worth $46,000 after purchasing an additional 583 shares during the period. Finally, Sierra Ocean LLC boosted its holdings in shares of Canadian Natural Resources by 104.0% in the 1st quarter. Sierra Ocean LLC now owns 1,569 shares of the oil and gas producer's stock worth $48,000 after purchasing an additional 800 shares during the period. Institutional investors own 74.03% of the company's stock.

Canadian Natural Resources Stock Up 1.7%

NYSE CNQ traded up $0.53 on Monday, reaching $31.92. 3,047,279 shares of the stock traded hands, compared to its average volume of 4,096,398. 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 company has a fifty day moving average price of $31.73 and a 200-day moving average price of $30.38. The company has a market cap of $66.74 billion, a price-to-earnings ratio of 12.52 and a beta of 1.03. Canadian Natural Resources Limited has a 12 month low of $24.65 and a 12 month high of $37.91.

Canadian Natural Resources (NYSE:CNQ - Get Free Report) TSE: CNQ last issued its earnings results on Thursday, May 8th. The oil and gas producer reported $0.81 earnings per share for the quarter, beating analysts' consensus estimates of $0.73 by $0.08. The business had revenue of $6.96 billion during the quarter, compared to analyst estimates 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 period in the previous year, the company posted $1.37 EPS. As a group, research analysts forecast that Canadian Natural Resources Limited will post 2.45 EPS for the current fiscal year.

Canadian Natural Resources Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, July 3rd. Shareholders of record on Friday, June 13th were given a dividend of $0.4227 per share. The ex-dividend date was Friday, June 13th. This is a positive change from Canadian Natural Resources's previous quarterly dividend of $0.41. This represents a $1.69 dividend on an annualized basis and a yield of 5.30%. Canadian Natural Resources's payout ratio is 67.06%.

Analysts Set New Price Targets

CNQ has been the subject of a number of recent research reports. Scotiabank reiterated an "outperform" rating on shares of Canadian Natural Resources in a report on Friday, July 11th. Raymond James Financial upgraded Canadian Natural Resources from a "market perform" rating to an "outperform" rating in a report on Wednesday, April 9th. Finally, National Bankshares restated a "sector perform" rating on shares of Canadian Natural Resources in a report on Thursday, July 17th. Three research analysts have rated the stock with a hold rating and four have given 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 $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).