M&T Bank Corp Buys 11,941 Shares of Canadian Natural Resources Limited (NYSE:CNQ)

M&T Bank Corp grew its position in Canadian Natural Resources Limited (NYSE:CNQ - Free Report) TSE: CNQ by 10.6% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 124,950 shares of the oil and gas producer's stock after purchasing an additional 11,941 shares during the quarter. M&T Bank Corp's holdings in Canadian Natural Resources were worth $3,798,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. FMR LLC raised its position in shares of 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. Summit Financial LLC acquired a new stake in shares of Canadian Natural Resources in the fourth quarter worth $267,000. Janney Montgomery Scott LLC acquired a new stake in shares of Canadian Natural Resources in the first quarter worth $757,000. PKO Investment Management Joint Stock Co acquired a new stake in shares of Canadian Natural Resources in the fourth quarter worth $2,452,000. Finally, Baskin Financial Services Inc. grew its stake in shares of Canadian Natural Resources by 0.9% in the first quarter. Baskin Financial Services Inc. now owns 1,005,012 shares of the oil and gas producer's stock worth $30,921,000 after acquiring an additional 8,861 shares during the last quarter. Institutional investors own 74.03% of the company's stock.

Analyst Ratings Changes

CNQ has been the topic of several research analyst reports. 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. 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. Finally, Royal Bank Of Canada restated an "outperform" rating and issued a $63.00 price objective on shares of Canadian Natural Resources in a research note on Thursday, March 27th. Three equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $63.00.

Canadian Natural Resources Stock Performance

CNQ traded up $0.30 during trading on Friday, reaching $32.09. 4,805,822 shares of the company's stock were exchanged, compared to its average volume of 5,798,432. 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 quick ratio of 0.53, a current ratio of 0.84 and a debt-to-equity ratio of 0.40. The business has a 50 day moving average price of $31.45 and a 200 day moving average price of $30.39. The company has a market capitalization of $67.12 billion, a P/E ratio of 12.58 and a beta of 1.03.

Canadian Natural Resources (NYSE:CNQ - Get Free Report) TSE: CNQ last posted its quarterly earnings results on Thursday, May 8th. The oil and gas producer reported $0.81 earnings per share for the quarter, topping analysts' consensus estimates 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 firm had revenue of $6.96 billion for the quarter, compared to the consensus estimate of $10.14 billion. During the same quarter in the previous year, the company earned $1.37 earnings per share. As a group, analysts predict that Canadian Natural Resources Limited will post 2.45 earnings per share for the current fiscal year.

Canadian Natural Resources Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, July 3rd. Shareholders of record on Friday, June 13th were paid a dividend of $0.4227 per share. The ex-dividend date was Friday, June 13th. This represents a $1.69 dividend on an annualized basis and a yield of 5.27%. This is an increase from Canadian Natural Resources's previous quarterly dividend of $0.41. Canadian Natural Resources's payout ratio is currently 67.06%.

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).