PKO Investment Management Joint Stock Co Makes New $2.45 Million Investment in Canadian Natural Resources Limited (NYSE:CNQ)

PKO Investment Management Joint Stock Co purchased a new position in Canadian Natural Resources Limited (NYSE:CNQ - Free Report) TSE: CNQ during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 79,400 shares of the oil and gas producer's stock, valued at approximately $2,452,000.

Several other large investors also recently bought and sold shares of CNQ. FMR LLC increased its position in Canadian Natural Resources by 8.7% in the fourth quarter. FMR LLC now owns 92,550,104 shares of the oil and gas producer's stock worth $2,857,337,000 after purchasing an additional 7,372,718 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. increased its position in Canadian Natural Resources by 31.6% in 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. Geode Capital Management LLC increased its position in Canadian Natural Resources by 30.1% in the fourth quarter. Geode Capital Management LLC now owns 12,708,163 shares of the oil and gas producer's stock worth $400,222,000 after purchasing an additional 2,939,866 shares during the last quarter. T. Rowe Price Investment Management Inc. boosted its stake in Canadian Natural Resources by 7.3% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 34,052,775 shares of the oil and gas producer's stock worth $1,051,210,000 after buying an additional 2,312,437 shares during the period. Finally, Bank of New York Mellon Corp boosted its stake 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 worth $136,994,000 after buying an additional 2,064,492 shares during the period. Institutional investors own 74.03% of the company's stock.

Analysts Set New Price Targets

Several research analysts have commented on CNQ shares. Scotiabank raised shares of Canadian Natural Resources from a "sector perform" rating to a "sector outperform" rating in a research note on Wednesday, March 19th. Raymond James raised shares of Canadian Natural Resources from a "market perform" rating to an "outperform" rating in a research note on Wednesday, April 9th. Royal Bank of Canada reaffirmed an "outperform" rating and set a $63.00 price objective on shares of Canadian Natural Resources in a research note on Thursday, March 27th. Evercore ISI raised shares of Canadian Natural Resources from an "in-line" rating to an "outperform" rating in a research note on Friday, March 7th. Finally, Tudor Pickering lowered shares of Canadian Natural Resources from a "strong-buy" rating to a "hold" rating in a research note on Monday, February 10th. Three research analysts have rated the stock with a hold rating and four have given a buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $63.00.

Canadian Natural Resources Trading Down 1.2%

Shares of CNQ traded down $0.38 during trading hours on Friday, reaching $30.39. 4,331,816 shares of the company traded hands, compared to its average volume of 5,546,379. The firm has a market cap of $63.66 billion, a price-to-earnings ratio of 11.80 and a beta of 1.04. Canadian Natural Resources Limited has a 12-month low of $24.65 and a 12-month high of $38.51. The company has a current ratio of 0.84, a quick ratio of 0.53 and a debt-to-equity ratio of 0.21. The stock's fifty day moving average price is $29.44 and its 200 day moving average price is $30.44.

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, beating analysts' consensus estimates of $0.73 by $0.08. Canadian Natural Resources had a net margin of 18.45% and a return on equity of 20.07%. The firm had revenue of $6.96 billion during the quarter, compared to analyst estimates of $10.14 billion. During the same period in the previous year, the firm earned $1.37 earnings per share. Sell-side analysts forecast that Canadian Natural Resources Limited will post 2.45 earnings per share for the current year.

Canadian Natural Resources Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, July 3rd. Investors of record on Friday, June 13th will be paid a $0.4227 dividend. The ex-dividend date of this dividend is Friday, June 13th. This is a positive change from Canadian Natural Resources's previous quarterly dividend of $0.41. This represents a $1.69 dividend on an annualized basis and a yield of 5.56%. Canadian Natural Resources's dividend payout ratio is 63.92%.

About Canadian Natural Resources

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).