Canadian Natural Resources Limited $CNQ Stock Position Raised by Sei Investments Co.

Key Points

• Sei Investments Co. increased its stake in Canadian Natural Resources by 41.9% in the first quarter, bringing its total holdings to 49,307 shares valued at $1,519,000.
• Canadian Natural Resources announced a quarterly dividend of $0.4269, raising its annualized dividend to $1.71 with a yield of 5.7%.
• Despite reporting a net revenue of $6.39 billion, Canadian Natural Resources beat earnings per share estimates of $0.44, posting earnings of $0.51 for the quarter.

Sei Investments Co. boosted its position in Canadian Natural Resources Limited (NYSE:CNQ - Free Report) TSE: CNQ by 41.9% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 49,307 shares of the oil and gas producer's stock after purchasing an additional 14,561 shares during the period. Sei Investments Co.'s holdings in Canadian Natural Resources were worth $1,519,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also modified their holdings of the company. Goldman Sachs Group Inc. raised its position in shares of Canadian Natural Resources by 240.8% during the 1st quarter. Goldman Sachs Group Inc. now owns 22,776,594 shares of the oil and gas producer's stock worth $701,519,000 after purchasing an additional 16,094,168 shares during the last quarter. Bank of Nova Scotia boosted its stake in shares of Canadian Natural Resources by 86.6% during the first quarter. Bank of Nova Scotia now owns 24,262,707 shares of the oil and gas producer's stock valued at $746,675,000 after acquiring an additional 11,259,267 shares during the last quarter. Canoe Financial LP boosted its stake in shares of Canadian Natural Resources by 403.7% during the first quarter. Canoe Financial LP now owns 4,738,577 shares of the oil and gas producer's stock valued at $145,828,000 after acquiring an additional 3,797,846 shares during the last quarter. T. Rowe Price Investment Management Inc. boosted its stake in shares of 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 valued at $1,051,210,000 after acquiring an additional 2,312,437 shares during the last quarter. Finally, Nuveen LLC purchased a new stake in Canadian Natural Resources in the 1st quarter worth approximately $68,342,000. Hedge funds and other institutional investors own 74.03% of the company's stock.

Canadian Natural Resources Stock Up 0.8%

CNQ stock traded up $0.2360 during trading on Thursday, reaching $29.8660. The stock had a trading volume of 1,102,750 shares, compared to its average volume of 6,381,273. The firm has a fifty day moving average price of $31.52 and a 200 day moving average price of $30.32. The company has a market capitalization of $62.39 billion, a P/E ratio of 10.59 and a beta of 1.05. Canadian Natural Resources Limited has a 1-year low of $24.65 and a 1-year high of $37.91. The company has a current ratio of 0.85, a quick ratio of 0.54 and a debt-to-equity ratio of 0.38.

Canadian Natural Resources (NYSE:CNQ - Get Free Report) TSE: CNQ last released its earnings results on Thursday, August 7th. The oil and gas producer reported $0.51 earnings per share for the quarter, topping the consensus estimate of $0.44 by $0.07. The company had revenue of $6.39 billion during the quarter, compared to the consensus estimate of $8.97 billion. Canadian Natural Resources had a net margin of 19.00% and a return on equity of 19.67%. During the same quarter in the previous year, the firm earned $0.88 EPS. On average, equities analysts anticipate 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 Friday, October 3rd. Investors of record on Friday, September 19th will be given a dividend of $0.4269 per share. The ex-dividend date of this dividend is Friday, September 19th. This represents a $1.71 dividend on an annualized basis and a dividend yield of 5.7%. This is a boost from Canadian Natural Resources's previous quarterly dividend of $0.42. Canadian Natural Resources's payout ratio is currently 60.64%.

Analyst Upgrades and Downgrades

Several analysts have commented on the stock. National Bankshares reaffirmed a "sector perform" rating on shares of Canadian Natural Resources in a research note on Thursday, July 17th. Raymond James Financial reaffirmed an "outperform" rating on shares of Canadian Natural Resources in a research note on Friday, August 8th. Scotiabank reaffirmed an "outperform" rating on shares of Canadian Natural Resources in a research note on Friday, July 11th. Finally, Royal Bank Of Canada lowered their target price on shares of Canadian Natural Resources from $64.00 to $62.00 and set an "outperform" rating for the company in a research note on Friday, August 8th. Four investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $62.00.

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).