QV Investors Inc. Purchases New Position in Canadian Natural Resources Limited (NYSE:CNQ)

QV Investors Inc. acquired a new position in shares of Canadian Natural Resources Limited (NYSE:CNQ - Free Report) TSE: CNQ in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 623,868 shares of the oil and gas producer's stock, valued at approximately $19,194,000. Canadian Natural Resources comprises about 1.9% of QV Investors Inc.'s investment portfolio, making the stock its 15th biggest position.

Several other institutional investors and hedge funds have also made changes to their positions in the business. FMR LLC grew its position in shares of 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 valued at $2,857,337,000 after purchasing an additional 7,372,718 shares during the last quarter. Principal Securities Inc. lifted its stake in Canadian Natural Resources by 595.2% in the 4th quarter. Principal Securities Inc. now owns 6,987 shares of the oil and gas producer's stock valued at $216,000 after buying an additional 5,982 shares in the last quarter. CIBC Asset Management Inc grew its holdings in Canadian Natural Resources by 5.6% during the 4th quarter. CIBC Asset Management Inc now owns 24,109,432 shares of the oil and gas producer's stock valued at $746,025,000 after buying an additional 1,270,945 shares during the last quarter. Bank of New York Mellon Corp grew its holdings in Canadian Natural Resources by 87.0% during the 4th 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 buying an additional 2,064,492 shares during the last quarter. Finally, Baskin Financial Services Inc. increased its position in Canadian Natural Resources by 1.1% during the fourth quarter. Baskin Financial Services Inc. now owns 996,151 shares of the oil and gas producer's stock worth $30,736,000 after buying an additional 10,871 shares in the last quarter. 74.03% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the company. Tudor Pickering downgraded Canadian Natural Resources from a "strong-buy" rating to a "hold" rating in a research report on Monday, February 10th. Scotiabank upgraded shares of Canadian Natural Resources from a "sector perform" rating to a "sector outperform" rating in a report on Wednesday, March 19th. 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. Raymond James raised shares of Canadian Natural Resources from a "market perform" rating to an "outperform" rating in a research report on Wednesday, April 9th. Finally, Royal Bank of Canada reissued an "outperform" rating and set a $63.00 price objective on shares of Canadian Natural Resources in a research note on Thursday, March 27th. Three research analysts have rated the stock with a hold rating and four have issued a buy rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $63.00.

Canadian Natural Resources Trading Up 2.0%

Canadian Natural Resources stock traded up $0.62 during midday trading on Tuesday, reaching $31.44. The stock had a trading volume of 5,527,670 shares, compared to its average volume of 5,547,914. Canadian Natural Resources Limited has a twelve month low of $24.65 and a twelve month high of $38.51. The stock has a market capitalization of $65.85 billion, a PE ratio of 12.21 and a beta of 1.04. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.53 and a current ratio of 0.84. The stock's 50-day simple moving average is $29.43 and its 200 day simple moving average is $30.42.

Canadian Natural Resources (NYSE:CNQ - Get Free Report) TSE: CNQ last released its quarterly earnings data on Thursday, May 8th. The oil and gas producer reported $0.81 EPS for the quarter, topping analysts' consensus estimates of $0.73 by $0.08. The company had revenue of $6.96 billion for the quarter, compared to the consensus estimate of $10.14 billion. Canadian Natural Resources had a return on equity of 20.07% and a net margin of 18.45%. During the same period last year, the business posted $1.37 EPS. Analysts expect that Canadian Natural Resources Limited will post 2.45 EPS for the current year.

Canadian Natural Resources Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, July 3rd. Investors of record on Friday, June 13th will be issued a $0.4227 dividend. This is a positive change from Canadian Natural Resources's previous quarterly dividend of $0.41. The ex-dividend date of this dividend is Friday, June 13th. This represents a $1.69 annualized dividend and a yield of 5.38%. Canadian Natural Resources's dividend payout ratio (DPR) is presently 63.92%.

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).