Miller Howard Investments Inc. NY Increases Stock Position in Canadian Natural Resources Limited (NYSE:CNQ)

Miller Howard Investments Inc. NY raised its position in Canadian Natural Resources Limited (NYSE:CNQ - Free Report) TSE: CNQ by 30.7% during the first quarter, according to its most recent filing with the SEC. The firm owned 1,439,372 shares of the oil and gas producer's stock after purchasing an additional 337,957 shares during the period. Canadian Natural Resources accounts for approximately 1.4% of Miller Howard Investments Inc. NY's portfolio, making the stock its 28th largest position. Miller Howard Investments Inc. NY owned 0.07% of Canadian Natural Resources worth $44,333,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. FMR LLC increased its stake in shares of Canadian Natural Resources by 8.7% in the 4th quarter. FMR LLC now owns 92,550,104 shares of the oil and gas producer's stock valued at $2,857,337,000 after acquiring an additional 7,372,718 shares in the last quarter. Canoe Financial LP increased its stake in shares of Canadian Natural Resources by 403.7% in the 1st 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. Connor Clark & Lunn Investment Management Ltd. increased its stake in shares of Canadian Natural Resources by 31.6% in the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 13,433,797 shares of the oil and gas producer's stock valued at $414,223,000 after acquiring an additional 3,224,548 shares in the last quarter. Geode Capital Management LLC increased its stake in shares of Canadian Natural Resources by 30.1% in the 4th quarter. Geode Capital Management LLC now owns 12,708,163 shares of the oil and gas producer's stock valued at $400,222,000 after acquiring an additional 2,939,866 shares in the last quarter. Finally, T. Rowe Price Investment Management Inc. increased its stake in shares of Canadian Natural Resources by 7.3% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 34,052,775 shares of the oil and gas producer's stock valued at $1,051,210,000 after acquiring an additional 2,312,437 shares in the last quarter. Institutional investors and hedge funds own 74.03% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on CNQ shares. 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. Raymond James Financial upgraded shares of Canadian Natural Resources from a "market perform" rating to an "outperform" rating in a research note on Wednesday, April 9th. Scotiabank upgraded shares of Canadian Natural Resources from a "sector perform" rating to a "sector outperform" rating in a research note on Wednesday, March 19th. Finally, Royal Bank Of Canada restated an "outperform" rating and set a $63.00 price target on shares of Canadian Natural Resources in a research note on Thursday, March 27th. Three analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $63.00.

Canadian Natural Resources Stock Down 0.5%

CNQ stock traded down $0.17 during midday trading on Friday, reaching $32.24. 2,616,468 shares of the company's stock traded hands, compared to its average volume of 5,783,292. The company has a market cap of $67.44 billion, a price-to-earnings ratio of 12.64 and a beta of 1.03. The firm's fifty day moving average price is $31.23 and its 200-day moving average price is $30.33. The company has a quick ratio of 0.53, a current ratio of 0.84 and a debt-to-equity ratio of 0.40. Canadian Natural Resources Limited has a 52 week low of $24.65 and a 52 week high of $37.91.

Canadian Natural Resources (NYSE:CNQ - Get Free Report) TSE: CNQ last announced its quarterly earnings results on Thursday, May 8th. The oil and gas producer reported $0.81 EPS 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 net margin of 16.92% and a return on equity of 20.90%. During the same quarter in the previous year, the business posted $1.37 EPS. As a group, sell-side analysts forecast 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 announced a quarterly dividend, which was paid on Thursday, July 3rd. Stockholders of record on Friday, June 13th were paid a $0.4227 dividend. This is a positive change from Canadian Natural Resources's previous quarterly dividend of $0.41. The ex-dividend date was Friday, June 13th. This represents a $1.69 annualized dividend and a dividend yield of 5.24%. Canadian Natural Resources's dividend payout ratio is presently 67.06%.

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).