Parkwood LLC Has $19.04 Million Position in 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 holdings in Canadian Natural Resources Limited (NYSE:CNQ - Free Report) TSE: CNQ by 15.4% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor 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 accounts for about 1.7% of Parkwood LLC's investment portfolio, making the stock its 21st largest holding. 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 also recently modified their holdings of CNQ. MAI Capital Management boosted its position in shares of Canadian Natural Resources by 9.6% during the first quarter. MAI Capital Management now owns 4,365 shares of the oil and gas producer's stock worth $134,000 after buying an additional 382 shares during the period. Thurston Springer Miller Herd & Titak Inc. boosted its position in shares of Canadian Natural Resources by 10.2% during the first 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. AdvisorNet Financial Inc boosted its position in shares of Canadian Natural Resources by 8.0% during the first 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. Peak Financial Advisors LLC boosted its position in shares of Canadian Natural Resources by 0.7% during the first quarter. Peak Financial Advisors LLC now owns 77,253 shares of the oil and gas producer's stock worth $2,379,000 after buying an additional 557 shares during the period. Finally, Investment Management Corp VA ADV boosted its position in shares of Canadian Natural Resources by 158.3% during the first quarter. Investment Management Corp VA ADV now owns 997 shares of the oil and gas producer's stock worth $31,000 after buying an additional 611 shares during the period. 74.03% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on CNQ. Raymond James Financial reaffirmed an "outperform" rating on shares of Canadian Natural Resources in a research report on Friday, August 8th. Royal Bank Of Canada reduced their price target 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. Zacks Research raised Canadian Natural Resources from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, August 26th. Scotiabank reissued an "outperform" rating on shares of Canadian Natural Resources in a research report on Friday, July 11th. Finally, National Bankshares reissued a "sector perform" rating on shares of Canadian Natural Resources in a research report on Thursday, July 17th. One equities research 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. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $62.00.

Canadian Natural Resources Stock Performance

NYSE CNQ traded up $0.60 during trading on Tuesday, reaching $30.89. 7,165,628 shares of the company's stock were exchanged, compared to its average volume of 5,955,401. The business has a 50 day moving average price of $31.10 and a 200-day moving average price of $30.37. The stock has a market capitalization of $64.47 billion, a P/E ratio of 10.95 and a beta of 1.03. The company has a debt-to-equity ratio of 0.38, a current ratio of 0.85 and a quick ratio of 0.54. Canadian Natural Resources Limited has a fifty-two week low of $24.65 and a fifty-two week high of $37.91.

Canadian Natural Resources (NYSE:CNQ - Get Free Report) TSE: CNQ last announced 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. The firm had revenue of $6.39 billion for the quarter, compared to the consensus estimate 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 quarter in the previous year, the business earned $0.88 earnings per share. Sell-side analysts forecast that Canadian Natural Resources Limited will post 2.45 earnings per share for the current fiscal year.

Canadian Natural Resources Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 3rd. Stockholders of record on Friday, September 19th will be issued a dividend of $0.4269 per share. This is a boost 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 5.5%. The ex-dividend date is Friday, September 19th. Canadian Natural Resources's dividend payout ratio is presently 60.64%.

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).