Canadian Natural Resources Limited $CNQ Shares Purchased by Mudita Advisors LLP

Key Points

• Mudita Advisors LLP increased its stake in Canadian Natural Resources Limited by 12.0%, holding a total of 637,044 shares valued at $19.62 million as of its latest SEC filing.
• The company announced a quarterly dividend increase to $0.4269 per share, representing an annualized yield of 5.5%, effective October 3rd.
• Canadian Natural Resources reported an EPS of $0.51 for its latest quarter, surpassing analyst estimates, but noted a revenue of $6.39 billion, below expectations of $8.97 billion.

Mudita Advisors LLP lifted its stake in shares of Canadian Natural Resources Limited (NYSE:CNQ - Free Report) TSE: CNQ by 12.0% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 637,044 shares of the oil and gas producer's stock after purchasing an additional 68,300 shares during the quarter. Canadian Natural Resources comprises about 9.9% of Mudita Advisors LLP's investment portfolio, making the stock its 3rd largest position. Mudita Advisors LLP's holdings in Canadian Natural Resources were worth $19,621,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. MAI Capital Management grew its stake in Canadian Natural Resources by 9.6% in the 1st quarter. MAI Capital Management now owns 4,365 shares of the oil and gas producer's stock valued at $134,000 after acquiring an additional 382 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. grew its stake in Canadian Natural Resources by 10.2% in the 1st quarter. Thurston Springer Miller Herd & Titak Inc. now owns 5,165 shares of the oil and gas producer's stock valued at $159,000 after acquiring an additional 480 shares during the last quarter. AdvisorNet Financial Inc grew its stake in Canadian Natural Resources by 8.0% in the 1st quarter. AdvisorNet Financial Inc now owns 7,065 shares of the oil and gas producer's stock valued at $218,000 after acquiring an additional 525 shares during the last quarter. Peak Financial Advisors LLC grew its stake in Canadian Natural Resources by 0.7% in the 1st quarter. Peak Financial Advisors LLC now owns 77,253 shares of the oil and gas producer's stock valued at $2,379,000 after acquiring an additional 557 shares during the last quarter. Finally, Investment Management Corp VA ADV grew its stake in Canadian Natural Resources by 158.3% in the 1st quarter. Investment Management Corp VA ADV now owns 997 shares of the oil and gas producer's stock valued at $31,000 after acquiring an additional 611 shares during the last quarter. 74.03% of the stock is owned by institutional investors and hedge funds.

Canadian Natural Resources Stock Up 2.6%

Shares of CNQ stock traded up $0.81 during mid-day trading on Monday, reaching $32.00. 1,992,118 shares of the company were exchanged, compared to its average volume of 6,433,083. 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 debt-to-equity ratio of 0.38, a quick ratio of 0.54 and a current ratio of 0.85. The company has a market capitalization of $66.77 billion, a P/E ratio of 11.35 and a beta of 1.03. The business's 50 day simple moving average is $31.03 and its 200 day simple moving average is $30.44.

Canadian Natural Resources (NYSE:CNQ - Get Free Report) TSE: CNQ last released 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. Canadian Natural Resources had a net margin of 19.00% and a return on equity of 19.67%. The business had revenue of $6.39 billion during the quarter, compared to the consensus estimate of $8.97 billion. During the same quarter last year, the company earned $0.88 earnings per share. Research analysts predict that Canadian Natural Resources Limited will post 2.45 earnings per share for the current year.

Canadian Natural Resources Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, October 3rd. Stockholders of record on Friday, September 19th will be given a dividend of $0.4269 per share. The ex-dividend date of this dividend is Friday, September 19th. This is an increase from Canadian Natural Resources's previous quarterly dividend of $0.42. This represents a $1.71 dividend on an annualized basis and a dividend yield of 5.3%. Canadian Natural Resources's dividend payout ratio is 60.64%.

Analyst Upgrades and Downgrades

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

About Canadian Natural Resources

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).