Canadian Natural Resources Limited (NYSE:CNQ) Holdings Increased by Nikko Asset Management Americas Inc.

Key Points

• Nikko Asset Management Americas Inc. increased its stake in Canadian Natural Resources Limited by 27.9%, acquiring an additional 14,285 shares to reach a total of 65,456 shares, valued at $2,016,000.
• Canadian Natural Resources' recent quarterly earnings report showed an EPS of $0.81, exceeding analysts' expectations of $0.73, despite revenue of $6.96 billion falling short of forecasts.
• The company has recently raised its dividend from $0.41 to $0.4227 per share, reflecting a yield of 5.39% and maintaining a healthy dividend payout ratio of 67.06%.

Nikko Asset Management Americas Inc. grew its holdings in Canadian Natural Resources Limited (NYSE:CNQ - Free Report) TSE: CNQ by 27.9% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 65,456 shares of the oil and gas producer's stock after acquiring an additional 14,285 shares during the period. Nikko Asset Management Americas Inc.'s holdings in Canadian Natural Resources were worth $2,016,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in CNQ. Thurston Springer Miller Herd & Titak Inc. increased its stake in Canadian Natural Resources by 10.2% during the 1st quarter. Thurston Springer Miller Herd & Titak Inc. now owns 5,165 shares of the oil and gas producer's stock worth $159,000 after buying an additional 480 shares during the period. Orion Portfolio Solutions LLC increased its stake in Canadian Natural Resources by 0.6% during the 4th quarter. Orion Portfolio Solutions LLC now owns 81,954 shares of the oil and gas producer's stock worth $2,530,000 after buying an additional 497 shares during the period. AdvisorNet Financial Inc increased its stake in Canadian Natural Resources by 8.0% during the 1st quarter. AdvisorNet Financial Inc now owns 7,065 shares of the oil and gas producer's stock worth $218,000 after buying an additional 525 shares during the period. MML Investors Services LLC increased its stake in Canadian Natural Resources by 1.0% during the 4th quarter. MML Investors Services LLC now owns 55,045 shares of the oil and gas producer's stock worth $1,699,000 after buying an additional 528 shares during the period. Finally, Peak Financial Advisors LLC grew its holdings in Canadian Natural Resources by 0.7% during the 1st quarter. Peak Financial Advisors LLC now owns 77,253 shares of the oil and gas producer's stock worth $2,379,000 after acquiring an additional 557 shares in the last quarter. Hedge funds and other institutional investors own 74.03% of the company's stock.

Analyst Ratings Changes

Several research analysts have weighed in on CNQ shares. Raymond James Financial raised shares of Canadian Natural Resources from a "market perform" rating to an "outperform" rating in a report on Wednesday, April 9th. Scotiabank reissued an "outperform" rating on shares of Canadian Natural Resources in a report on Friday, July 11th. Finally, National Bankshares reissued a "sector perform" rating on shares of Canadian Natural Resources in a report on Thursday, July 17th. Three research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $63.00.

Canadian Natural Resources Stock Performance

Shares of NYSE CNQ traded down $0.37 during midday trading on Wednesday, hitting $31.86. The company's stock had a trading volume of 986,697 shares, compared to its average volume of 6,563,648. Canadian Natural Resources Limited has a 1-year low of $24.65 and a 1-year high of $37.91. The firm's fifty day moving average price is $31.76 and its 200-day moving average price is $30.39. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.53 and a current ratio of 0.84. The firm has a market cap of $66.62 billion, a P/E ratio of 12.49 and a beta of 1.03.

Canadian Natural Resources (NYSE:CNQ - Get Free Report) TSE: CNQ last posted its earnings results on Thursday, May 8th. The oil and gas producer reported $0.81 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.73 by $0.08. The firm 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 period in the previous year, the business posted $1.37 EPS. On average, sell-side analysts forecast that Canadian Natural Resources Limited will post 2.45 EPS 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. Shareholders of record on Friday, June 13th were paid a dividend of $0.4227 per share. This represents a $1.69 dividend on an annualized basis and a yield of 5.31%. This is a positive change from Canadian Natural Resources's previous quarterly dividend of $0.41. The ex-dividend date of this dividend was Friday, June 13th. Canadian Natural Resources's payout ratio is presently 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).