Northwest & Ethical Investments L.P. Has $21.27 Million Stock Position in Canadian Natural Resources Limited $CNQ

Key Points

• Northwest & Ethical Investments L.P. increased its holdings in Canadian Natural Resources Limited by 53.2%, now owning 690,975 shares valued at approximately $21.27 million.
• Canadian Natural Resources announced a quarterly dividend of $0.4269, reflecting an increase from the previous dividend, with an annualized dividend yield of 5.7%.
• Financial analysts have given Canadian Natural Resources a consensus rating of "Moderate Buy" with a price target of $62.00, indicating positive outlooks for the stock.

Northwest & Ethical Investments L.P. increased its position in Canadian Natural Resources Limited (NYSE:CNQ - Free Report) TSE: CNQ by 53.2% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 690,975 shares of the oil and gas producer's stock after acquiring an additional 240,062 shares during the period. Northwest & Ethical Investments L.P.'s holdings in Canadian Natural Resources were worth $21,274,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Townsquare Capital LLC grew its position in Canadian Natural Resources by 11.2% in the 4th quarter. Townsquare Capital LLC now owns 11,610 shares of the oil and gas producer's stock valued at $358,000 after buying an additional 1,168 shares in the last quarter. Synovus Financial Corp lifted its stake in Canadian Natural Resources by 38.7% during the fourth quarter. Synovus Financial Corp now owns 9,152 shares of the oil and gas producer's stock valued at $283,000 after buying an additional 2,552 shares in the last quarter. Mariner LLC lifted its position in shares of Canadian Natural Resources by 11.9% in the fourth quarter. Mariner LLC now owns 108,734 shares of the oil and gas producer's stock worth $3,356,000 after purchasing an additional 11,601 shares in the last quarter. Guggenheim Capital LLC lifted its position in shares of Canadian Natural Resources by 11.0% in the fourth quarter. Guggenheim Capital LLC now owns 17,800 shares of the oil and gas producer's stock worth $549,000 after purchasing an additional 1,760 shares in the last quarter. Finally, NewEdge Advisors LLC increased its holdings in Canadian Natural Resources by 43.8% in the fourth quarter. NewEdge Advisors LLC now owns 63,605 shares of the oil and gas producer's stock worth $1,963,000 after buying an additional 19,382 shares during the last quarter. Institutional investors and hedge funds own 74.03% of the company's stock.

Canadian Natural Resources Stock Performance

CNQ stock traded up $0.5050 during midday trading on Thursday, hitting $30.1350. The stock had a trading volume of 3,507,790 shares, compared to its average volume of 6,396,959. The firm has a market capitalization of $62.96 billion, a price-to-earnings ratio of 10.69 and a beta of 1.05. The stock has a 50-day simple moving average of $31.52 and a 200 day simple moving average of $30.32. Canadian Natural Resources Limited has a 52 week low of $24.65 and a 52 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.

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

Canadian Natural Resources Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 3rd. Investors of record on Friday, September 19th will be given a $0.4269 dividend. The ex-dividend date is Friday, September 19th. This is a positive change from Canadian Natural Resources's previous quarterly dividend of $0.42. This represents a $1.71 dividend on an annualized basis and a yield of 5.7%. Canadian Natural Resources's dividend payout ratio is 60.64%.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the company. National Bankshares restated a "sector perform" rating on shares of Canadian Natural Resources in a report on Thursday, July 17th. Raymond James Financial reissued an "outperform" rating on shares of Canadian Natural Resources in a research report on Friday, August 8th. Scotiabank reissued an "outperform" rating on shares of Canadian Natural Resources in a research report on Friday, July 11th. Finally, Royal Bank Of Canada reduced their price objective on Canadian Natural Resources from $64.00 to $62.00 and set an "outperform" rating for the company in a research report on Friday, August 8th. Four investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target 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).