Oppenheimer & Co. Inc. Acquires 17,308 Shares of Canadian Natural Resources Limited (NYSE:CNQ)

Oppenheimer & Co. Inc. boosted its stake in shares of Canadian Natural Resources Limited (NYSE:CNQ - Free Report) TSE: CNQ by 54.7% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 48,964 shares of the oil and gas producer's stock after acquiring an additional 17,308 shares during the period. Oppenheimer & Co. Inc.'s holdings in Canadian Natural Resources were worth $1,508,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. FMR LLC raised its position 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 buying an additional 7,372,718 shares in the last quarter. Bank of New York Mellon Corp raised its position in Canadian Natural Resources by 87.0% during the fourth quarter. Bank of New York Mellon Corp now owns 4,437,771 shares of the oil and gas producer's stock valued at $136,994,000 after purchasing an additional 2,064,492 shares in the last quarter. Capital Wealth Planning LLC raised its position in Canadian Natural Resources by 8.8% during the fourth quarter. Capital Wealth Planning LLC now owns 139,203 shares of the oil and gas producer's stock valued at $4,297,000 after purchasing an additional 11,296 shares in the last quarter. Summit Financial LLC bought a new stake in Canadian Natural Resources during the fourth quarter worth $267,000. Finally, Connor Clark & Lunn Investment Management Ltd. lifted its stake in Canadian Natural Resources by 31.6% during the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 13,433,797 shares of the oil and gas producer's stock worth $414,223,000 after purchasing an additional 3,224,548 shares during the last quarter. 74.03% of the stock is owned by institutional investors and hedge funds.

Canadian Natural Resources Price Performance

Shares of CNQ traded down $0.47 during trading hours on Friday, reaching $31.45. The stock had a trading volume of 7,307,120 shares, compared to its average volume of 5,780,955. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.53 and a current ratio of 0.84. Canadian Natural Resources Limited has a 12 month low of $24.65 and a 12 month high of $37.91. The stock has a market capitalization of $65.78 billion, a PE ratio of 12.33 and a beta of 1.03. The company's 50-day moving average is $30.94 and its two-hundred day moving average is $30.30.

Canadian Natural Resources (NYSE:CNQ - Get Free Report) TSE: CNQ last issued its earnings results on Thursday, May 8th. The oil and gas producer reported $0.81 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.73 by $0.08. Canadian Natural Resources had a return on equity of 20.90% and a net margin of 16.92%. The business had revenue of $6.96 billion during the quarter, compared to analysts' expectations of $10.14 billion. During the same quarter in the prior year, the firm earned $1.37 EPS. Research analysts expect that Canadian Natural Resources Limited will post 2.45 EPS for the current year.

Canadian Natural Resources Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, July 3rd. Stockholders of record on Friday, June 13th will be paid a $0.4227 dividend. The ex-dividend date is Friday, June 13th. This represents a $1.69 annualized dividend and a dividend yield of 5.38%. This is an increase from Canadian Natural Resources's previous quarterly dividend of $0.41. Canadian Natural Resources's dividend payout ratio is currently 67.06%.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on CNQ shares. Evercore ISI upgraded Canadian Natural Resources from an "in-line" rating to an "outperform" rating in a research note on Friday, March 7th. Royal Bank Of Canada reiterated an "outperform" rating and issued a $63.00 target price on shares of Canadian Natural Resources in a research report on Thursday, March 27th. Scotiabank raised Canadian Natural Resources from a "sector perform" rating to a "sector outperform" rating in a research note on Wednesday, March 19th. Finally, 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. Three investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $63.00.

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).