Parkwood LLC Purchases 82,621 Shares of Canadian Natural Resources Limited $CNQ

Key Points

• Parkwood LLC increased its ownership in Canadian Natural Resources Limited by 15.4%, holding 618,005 shares valued at approximately $19 million.
• Other major institutional investors, including T. Rowe Price and Bank of Nova Scotia, have also significantly increased their stakes, collectively owning over 74% of the stock in total.
• Canadian Natural Resources announced a quarterly dividend increase to $0.4269, representing a dividend yield of 5.6% for shareholders.

Parkwood LLC grew its position in Canadian Natural Resources Limited (NYSE:CNQ - Free Report) TSE: CNQ by 15.4% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 618,005 shares of the oil and gas producer's stock after acquiring an additional 82,621 shares during the quarter. Canadian Natural Resources makes up approximately 1.7% of Parkwood LLC's holdings, making the stock its 21st largest position. Parkwood LLC's holdings in Canadian Natural Resources were worth $19,035,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in CNQ. MAI Capital Management raised its holdings 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 worth $134,000 after acquiring an additional 382 shares during the period. Thurston Springer Miller Herd & Titak Inc. grew its position in shares of Canadian Natural Resources by 10.2% in the first 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 purchasing an additional 480 shares during the last quarter. AdvisorNet Financial Inc increased its stake in shares of Canadian Natural Resources by 8.0% in the first quarter. AdvisorNet Financial Inc now owns 7,065 shares of the oil and gas producer's stock worth $218,000 after purchasing an additional 525 shares during the period. Peak Financial Advisors LLC lifted its position in shares of 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 purchasing an additional 557 shares during the last quarter. Finally, Investment Management Corp VA ADV lifted its position in shares of Canadian Natural Resources by 158.3% during the 1st quarter. Investment Management Corp VA ADV now owns 997 shares of the oil and gas producer's stock worth $31,000 after purchasing an additional 611 shares during the last quarter. 74.03% of the stock is currently owned by institutional investors.

Canadian Natural Resources Price Performance

Canadian Natural Resources stock traded up $0.01 on Thursday, reaching $31.21. The company's stock had a trading volume of 4,619,374 shares, compared to its average volume of 6,468,091. The business's fifty day moving average price is $31.07 and its 200 day moving average price is $30.38. 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 cap of $65.14 billion, a price-to-earnings ratio of 11.07 and a beta of 1.03. Canadian Natural Resources Limited has a twelve month low of $24.65 and a twelve month high of $37.91.

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 (EPS) for the quarter, beating analysts' consensus estimates of $0.44 by $0.07. The business had revenue of $6.39 billion during the quarter, compared to analysts' expectations of $8.97 billion. Canadian Natural Resources had a return on equity of 19.67% and a net margin of 19.00%.During the same period in the previous year, the business posted $0.88 earnings per share. Equities analysts expect that Canadian Natural Resources Limited will post 2.45 earnings per share for the current fiscal 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 paid a dividend of $0.4269 per share. This represents a $1.71 annualized dividend and a dividend yield of 5.5%. This is an increase from Canadian Natural Resources's previous quarterly dividend of $0.42. The ex-dividend date of this dividend is Friday, September 19th. Canadian Natural Resources's payout ratio is currently 60.64%.

Analysts Set New Price Targets

Several research analysts have commented on the company. Scotiabank reaffirmed an "outperform" rating on shares of Canadian Natural Resources in a research report on Friday, July 11th. Royal Bank Of Canada dropped 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 research report on Friday, August 8th. National Bankshares reissued a "sector perform" rating on shares of Canadian Natural Resources in a report on Thursday, July 17th. Zacks Research upgraded shares of Canadian Natural Resources from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, August 26th. Finally, Raymond James Financial reaffirmed an "outperform" rating on shares of Canadian Natural Resources in a research 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 assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $62.00.

Canadian Natural Resources Company 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).