Mediolanum International Funds Ltd boosted its position in shares of Canadian Natural Resources Limited (NYSE:CNQ - Free Report) TSE: CNQ by 45.7% during the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 215,164 shares of the oil and gas producer's stock after purchasing an additional 67,478 shares during the period. Mediolanum International Funds Ltd's holdings in Canadian Natural Resources were worth $6,588,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in CNQ. Hurley Capital LLC purchased a new position in shares of Canadian Natural Resources during the 4th quarter valued at $31,000. Versant Capital Management Inc grew its holdings in shares of Canadian Natural Resources by 253.2% during the 1st quarter. Versant Capital Management Inc now owns 1,307 shares of the oil and gas producer's stock valued at $40,000 after acquiring an additional 937 shares in the last quarter. Huntington National Bank grew its holdings in shares of Canadian Natural Resources by 64.1% during the 4th quarter. Huntington National Bank now owns 1,493 shares of the oil and gas producer's stock valued at $46,000 after acquiring an additional 583 shares in the last quarter. Sierra Ocean LLC grew its holdings in shares of Canadian Natural Resources by 104.0% during the 1st quarter. Sierra Ocean LLC now owns 1,569 shares of the oil and gas producer's stock valued at $48,000 after acquiring an additional 800 shares in the last quarter. Finally, Opal Wealth Advisors LLC purchased a new position in shares of Canadian Natural Resources during the 1st quarter valued at $56,000. 74.03% of the stock is currently owned by hedge funds and other institutional investors.
Canadian Natural Resources Stock Up 1.7%
Shares of CNQ stock traded up $0.53 on Monday, hitting $31.92. The company's stock had a trading volume of 3,047,279 shares, compared to its average volume of 4,096,398. 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 fifty-two week low of $24.65 and a fifty-two week high of $37.91. The firm's fifty day moving average price is $31.73 and its 200-day moving average price is $30.38. The stock has a market capitalization of $66.74 billion, a price-to-earnings ratio of 12.52 and a beta of 1.03.
Canadian Natural Resources (NYSE:CNQ - Get Free Report) TSE: CNQ last released its quarterly earnings data on Thursday, May 8th. The oil and gas producer reported $0.81 earnings per share (EPS) for the quarter, beating the consensus estimate 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 quarter in the previous year, the business earned $1.37 EPS. 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 disclosed a quarterly dividend, which was paid on Thursday, July 3rd. Investors of record on Friday, June 13th were paid a $0.4227 dividend. This represents a $1.69 annualized dividend and a dividend yield of 5.30%. The ex-dividend date was Friday, June 13th. This is a positive change from Canadian Natural Resources's previous quarterly dividend of $0.41. Canadian Natural Resources's payout ratio is presently 67.06%.
Analysts Set New Price Targets
Several equities analysts have recently commented on CNQ shares. National Bankshares restated a "sector perform" rating on shares of Canadian Natural Resources in a report on Thursday, July 17th. Raymond James Financial upgraded shares of Canadian Natural Resources from a "market perform" rating to an "outperform" rating in a report on Wednesday, April 9th. Finally, Scotiabank restated an "outperform" rating on shares of Canadian Natural Resources in a report on Friday, July 11th. Three investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, Canadian Natural Resources presently has an average rating of "Moderate Buy" and a consensus target price of $63.00.
View Our Latest Report on CNQ
About Canadian Natural Resources
(
Free Report)
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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