Miller Howard Investments Inc. NY Buys 11,968 Shares of Canadian Natural Resources Limited $CNQ

Key Points

• Miller Howard Investments Inc. NY increased its position in Canadian Natural Resources Limited by 0.8%, owning approximately $45.57 million worth of the company's shares.
• Canadian Natural Resources declared a quarterly dividend of $0.4269, marking a slight increase from its previous dividend, with a yield of 5.4%.
• Analysts have mixed ratings on Canadian Natural Resources, with an average rating of "Moderate Buy" and a price target of $62.00.

Miller Howard Investments Inc. NY raised its stake in Canadian Natural Resources Limited (NYSE:CNQ - Free Report) TSE: CNQ by 0.8% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,451,340 shares of the oil and gas producer's stock after buying an additional 11,968 shares during the quarter. Miller Howard Investments Inc. NY owned approximately 0.07% of Canadian Natural Resources worth $45,572,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of the stock. Investment Management Corp VA ADV grew its position in shares of Canadian Natural Resources by 158.3% in the first quarter. Investment Management Corp VA ADV now owns 997 shares of the oil and gas producer's stock valued at $31,000 after purchasing an additional 611 shares during the period. Versant Capital Management Inc grew its position in shares of Canadian Natural Resources by 253.2% in the first quarter. Versant Capital Management Inc now owns 1,307 shares of the oil and gas producer's stock valued at $40,000 after purchasing an additional 937 shares during the last quarter. Sierra Ocean LLC lifted its stake in Canadian Natural Resources by 104.0% during the first 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. Geneos Wealth Management Inc. increased its holdings in shares of Canadian Natural Resources by 47.3% in the first quarter. Geneos Wealth Management Inc. now owns 1,644 shares of the oil and gas producer's stock valued at $51,000 after purchasing an additional 528 shares in the last quarter. Finally, Opal Wealth Advisors LLC bought a new stake in Canadian Natural Resources in the 1st quarter valued at $56,000. Hedge funds and other institutional investors own 74.03% of the company's stock.

Canadian Natural Resources Trading Up 1.2%

NYSE:CNQ traded up $0.40 on Tuesday, hitting $32.51. 2,749,784 shares of the stock were exchanged, compared to its average volume of 6,525,911. The stock has a market cap of $67.85 billion, a PE ratio of 11.52 and a beta of 1.03. Canadian Natural Resources Limited has a fifty-two week low of $24.65 and a fifty-two week high of $37.91. The company has a current ratio of 0.85, a quick ratio of 0.54 and a debt-to-equity ratio of 0.38. The stock has a fifty day moving average of $31.08 and a 200-day moving average of $30.63.

Canadian Natural Resources (NYSE:CNQ - Get Free Report) TSE: CNQ last announced its quarterly earnings results on Thursday, August 7th. The oil and gas producer reported $0.51 earnings per share for the quarter, topping analysts' consensus estimates of $0.44 by $0.07. The business had revenue of $6.39 billion for the quarter, compared to analysts' expectations of $8.97 billion. Canadian Natural Resources had a return on equity of 19.67% and a net margin of 19.00%.During the same period in the prior year, the firm earned $0.88 EPS. As a group, equities analysts expect that Canadian Natural Resources Limited will post 2.45 earnings per share for the current fiscal year.

Canadian Natural Resources Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, October 3rd. Stockholders of record on Friday, September 19th will be issued a $0.4269 dividend. This is a positive change from Canadian Natural Resources's previous quarterly dividend of $0.42. The ex-dividend date of this dividend is Friday, September 19th. This represents a $1.71 annualized dividend and a dividend yield of 5.3%. Canadian Natural Resources's dividend payout ratio (DPR) is presently 60.28%.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the stock. Scotiabank reaffirmed an "outperform" rating on shares of Canadian Natural Resources in a report on Friday, July 11th. Zacks Research upgraded shares of Canadian Natural Resources from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, August 26th. National Bankshares reissued a "sector perform" rating on shares of Canadian Natural Resources in a research report on Thursday, July 17th. Royal Bank Of Canada reduced their price objective on shares of Canadian Natural Resources from $64.00 to $62.00 and set an "outperform" rating for the company in a research note on Friday, August 8th. Finally, Raymond James Financial reiterated an "outperform" rating on shares of Canadian Natural Resources in a research report on Friday, August 8th. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, Canadian Natural Resources has a consensus rating of "Moderate Buy" and a consensus target price of $62.00.

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).