Mainstay Capital Management LLC ADV Has $2.47 Million Holdings in Canadian Natural Resources Limited $CNQ

Key Points

• Mainstay Capital Management LLC ADV has increased its holdings in Canadian Natural Resources Limited by 100.1%, owning 78,672 shares valued at approximately $2.47 million.
• Other notable hedge funds have also significantly increased their positions in CNQ, with Goldman Sachs boosting its stake by 240.8% to 22,776,594 shares.
• The company recently announced a quarterly dividend increase to $0.4269 per share, which translates to an annual yield of 5.2%.

Mainstay Capital Management LLC ADV boosted its holdings in Canadian Natural Resources Limited (NYSE:CNQ - Free Report) TSE: CNQ by 100.1% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 78,672 shares of the oil and gas producer's stock after buying an additional 39,351 shares during the quarter. Mainstay Capital Management LLC ADV's holdings in Canadian Natural Resources were worth $2,470,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in CNQ. Goldman Sachs Group Inc. boosted its stake in shares of Canadian Natural Resources by 240.8% during the first quarter. Goldman Sachs Group Inc. now owns 22,776,594 shares of the oil and gas producer's stock valued at $701,519,000 after purchasing an additional 16,094,168 shares in the last quarter. Bank of Nova Scotia increased its holdings in shares of Canadian Natural Resources by 86.6% during the first quarter. Bank of Nova Scotia now owns 24,262,707 shares of the oil and gas producer's stock valued at $746,675,000 after acquiring an additional 11,259,267 shares in the last quarter. T. Rowe Price Investment Management Inc. increased its holdings in shares of Canadian Natural Resources by 29.1% during the first quarter. T. Rowe Price Investment Management Inc. now owns 43,968,120 shares of the oil and gas producer's stock valued at $1,354,219,000 after acquiring an additional 9,915,345 shares in the last quarter. Canada Pension Plan Investment Board increased its holdings in shares of Canadian Natural Resources by 13.0% during the first quarter. Canada Pension Plan Investment Board now owns 41,769,153 shares of the oil and gas producer's stock valued at $1,285,464,000 after acquiring an additional 4,805,451 shares in the last quarter. Finally, Canoe Financial LP increased its holdings in shares of Canadian Natural Resources by 403.7% during the first quarter. Canoe Financial LP now owns 4,738,577 shares of the oil and gas producer's stock valued at $145,828,000 after acquiring an additional 3,797,846 shares in the last quarter. 74.03% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms have recently commented on CNQ. Royal Bank Of Canada restated an "outperform" rating and set a $62.00 price objective on shares of Canadian Natural Resources in a report on Wednesday, September 24th. Zacks Research raised Canadian Natural Resources from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, August 26th. Raymond James Financial reaffirmed an "outperform" rating on shares of Canadian Natural Resources in a research report on Friday, August 8th. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Canadian Natural Resources in a research report on Wednesday. Finally, National Bankshares reaffirmed a "sector perform" rating on shares of Canadian Natural Resources in a research report on Thursday, July 17th. One equities 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. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $62.00.

Canadian Natural Resources Stock Down 0.3%

Shares of NYSE CNQ opened at $32.66 on Thursday. 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 0.38, a current ratio of 0.85 and a quick ratio of 0.54. The business's fifty day moving average price is $31.30 and its 200-day moving average price is $30.84. The stock has a market capitalization of $68.16 billion, a PE ratio of 11.58 and a beta of 0.97.

Canadian Natural Resources (NYSE:CNQ - Get Free Report) TSE: CNQ last released its quarterly earnings data 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 return on equity of 19.67% and a net margin of 19.00%.The company had revenue of $6.39 billion for the quarter, compared to analyst estimates of $8.97 billion. During the same period in the previous year, the company posted $0.88 EPS. On average, equities research analysts anticipate that Canadian Natural Resources Limited will post 2.45 EPS 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 paid a $0.4269 dividend. The ex-dividend date was Friday, September 19th. This represents a $1.71 dividend on an annualized basis and a yield of 5.2%. This is an increase 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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