Canadian Natural Resources Limited (NYSE:CNQ) Shares Purchased by Mackenzie Financial Corp

Mackenzie Financial Corp boosted its stake in Canadian Natural Resources Limited (NYSE:CNQ - Free Report) TSE: CNQ by 4.9% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 31,580,717 shares of the oil and gas producer's stock after purchasing an additional 1,464,807 shares during the quarter. Canadian Natural Resources comprises 1.3% of Mackenzie Financial Corp's portfolio, making the stock its 13th largest position. Mackenzie Financial Corp owned about 1.50% of Canadian Natural Resources worth $973,976,000 as of its most recent filing with the SEC.

Other institutional investors have also recently bought and sold shares of the company. FMR LLC grew its holdings in Canadian Natural Resources by 8.7% in 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 purchasing an additional 7,372,718 shares during the period. Principal Securities Inc. grew its holdings in Canadian Natural Resources by 595.2% in the fourth quarter. Principal Securities Inc. now owns 6,987 shares of the oil and gas producer's stock valued at $216,000 after purchasing an additional 5,982 shares during the period. SG Americas Securities LLC grew its holdings in Canadian Natural Resources by 6.3% in the fourth quarter. SG Americas Securities LLC now owns 296,424 shares of the oil and gas producer's stock valued at $9,151,000 after purchasing an additional 17,694 shares during the period. CIBC Asset Management Inc grew its holdings in Canadian Natural Resources by 5.6% in the fourth quarter. CIBC Asset Management Inc now owns 24,109,432 shares of the oil and gas producer's stock valued at $746,025,000 after purchasing an additional 1,270,945 shares during the period. Finally, Bank of New York Mellon Corp grew its holdings in Canadian Natural Resources by 87.0% in the fourth quarter. Bank of New York Mellon Corp now owns 4,437,771 shares of the oil and gas producer's stock valued at $136,994,000 after purchasing an additional 2,064,492 shares during the period. 74.03% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the stock. Scotiabank upgraded shares of Canadian Natural Resources from a "sector perform" rating to a "sector outperform" rating in a report on Wednesday, March 19th. Raymond James upgraded shares of Canadian Natural Resources from a "market perform" rating to an "outperform" rating in a research note on Wednesday, April 9th. Royal Bank of Canada reiterated an "outperform" rating and set a $63.00 price objective on shares of Canadian Natural Resources in a research note on Thursday, March 27th. Evercore ISI upgraded shares of Canadian Natural Resources from an "in-line" rating to an "outperform" rating in a research note on Friday, March 7th. Finally, Tudor Pickering downgraded shares of Canadian Natural Resources from a "strong-buy" rating to a "hold" rating in a research note on Monday, February 10th. Three research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat, Canadian Natural Resources presently has an average rating of "Moderate Buy" and a consensus target price of $63.00.

Canadian Natural Resources Stock Up 0.4%

Shares of NYSE CNQ traded up $0.11 during trading on Thursday, reaching $30.86. 1,552,662 shares of the stock were exchanged, compared to its average volume of 5,517,337. The business's 50-day moving average price is $29.46 and its 200 day moving average price is $30.53. Canadian Natural Resources Limited has a twelve month low of $24.65 and a twelve month high of $38.60. The company has a quick ratio of 0.53, a current ratio of 0.84 and a debt-to-equity ratio of 0.21. The company has a market capitalization of $64.64 billion, a price-to-earnings ratio of 11.99 and a beta of 1.04.

Canadian Natural Resources (NYSE:CNQ - Get Free Report) TSE: CNQ last posted its earnings results on Thursday, May 8th. The oil and gas producer reported $0.81 EPS for the quarter, topping analysts' consensus estimates of $0.73 by $0.08. Canadian Natural Resources had a net margin of 18.45% and a return on equity of 20.07%. The business had revenue of $6.96 billion for the quarter, compared to analysts' expectations of $10.14 billion. During the same period in the previous year, the company posted $1.37 earnings per share. As a group, equities analysts forecast that Canadian Natural Resources Limited will post 2.45 EPS for the current fiscal year.

Canadian Natural Resources Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, July 3rd. Investors of record on Friday, June 13th will be issued a $0.4227 dividend. The ex-dividend date is Friday, June 13th. This is a boost from Canadian Natural Resources's previous quarterly dividend of $0.41. This represents a $1.69 annualized dividend and a yield of 5.48%. Canadian Natural Resources's dividend payout ratio is currently 63.92%.

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).