Sei Investments Co. Increases Stock Holdings in Canadian Natural Resources Limited $CNQ

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. raised its stake in Canadian Natural Resources Limited (NYSE:CNQ - Free Report) TSE: CNQ by 41.9% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor 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 and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of CNQ. Advisory Services Network LLC increased its holdings in shares of Canadian Natural Resources by 18.9% in the 4th quarter. Advisory Services Network LLC now owns 10,913 shares of the oil and gas producer's stock valued at $337,000 after acquiring an additional 1,736 shares during the last quarter. Townsquare Capital LLC increased its holdings in shares of Canadian Natural Resources by 11.2% in the 4th quarter. Townsquare Capital LLC now owns 11,610 shares of the oil and gas producer's stock valued at $358,000 after acquiring an additional 1,168 shares during the last quarter. Sagespring Wealth Partners LLC purchased a new position in shares of Canadian Natural Resources in the 4th quarter valued at about $219,000. Synovus Financial Corp increased its holdings in shares of Canadian Natural Resources by 38.7% in the 4th quarter. Synovus Financial Corp now owns 9,152 shares of the oil and gas producer's stock valued at $283,000 after acquiring an additional 2,552 shares during the last quarter. Finally, Mariner LLC increased its holdings in shares of Canadian Natural Resources by 11.9% in the 4th quarter. Mariner LLC now owns 108,734 shares of the oil and gas producer's stock valued at $3,356,000 after acquiring an additional 11,601 shares during the last quarter. Institutional investors and hedge funds own 74.03% of the company's stock.

Wall Street Analysts Forecast Growth

CNQ has been the topic of a number of recent analyst reports. Scotiabank reiterated an "outperform" rating on shares of Canadian Natural Resources in a report on Friday, July 11th. National Bankshares reiterated a "sector perform" rating on shares of Canadian Natural Resources in a report on Thursday, July 17th. Royal Bank Of Canada dropped their price target on Canadian Natural Resources from $64.00 to $62.00 and set an "outperform" rating on the stock in a research note on Friday, August 8th. Finally, Raymond James Financial restated an "outperform" rating on shares of Canadian Natural Resources in a research note on Friday, August 8th. Three investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company's stock. According to data from MarketBeat, Canadian Natural Resources has a consensus rating of "Moderate Buy" and a consensus price target of $62.00.

Canadian Natural Resources Stock Performance

NYSE:CNQ traded down $0.05 during mid-day trading on Monday, reaching $29.79. 4,062,469 shares of the stock were exchanged, compared to its average volume of 4,543,138. The company has a 50 day simple moving average of $31.64 and a 200-day simple moving average of $30.33. The stock has a market capitalization of $62.23 billion, a P/E ratio of 10.56 and a beta of 1.05. The company has a quick ratio of 0.54, a current ratio of 0.85 and a debt-to-equity ratio of 0.38. Canadian Natural Resources Limited has a 1 year low of $24.65 and a 1 year 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, topping analysts' consensus estimates of $0.44 by $0.07. Canadian Natural Resources had a return on equity of 19.67% and a net margin of 19.00%. The firm had revenue of $6.39 billion for the quarter, compared to the consensus estimate of $8.97 billion. During the same quarter last year, the business posted $0.88 EPS. Analysts anticipate 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 announced a quarterly dividend, which will be paid on Friday, October 3rd. Shareholders of record on Friday, September 19th will be paid a $0.4269 dividend. This is an increase from Canadian Natural Resources's previous quarterly dividend of $0.42. The ex-dividend date is Friday, September 19th. This represents a $1.71 annualized dividend and a dividend yield of 5.7%. Canadian Natural Resources's dividend payout ratio (DPR) is 60.64%.

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).