Stokes Capital Advisors LLC Increases Stake in Canadian Natural Resources Limited (NYSE:CNQ)

Stokes Capital Advisors LLC increased its holdings in shares of Canadian Natural Resources Limited (NYSE:CNQ - Free Report) TSE: CNQ by 17.8% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 205,814 shares of the oil and gas producer's stock after acquiring an additional 31,130 shares during the period. Stokes Capital Advisors LLC's holdings in Canadian Natural Resources were worth $6,339,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of the business. Duncker Streett & Co. Inc. purchased a new position in Canadian Natural Resources in the fourth quarter worth about $25,000. Lee Danner & Bass Inc. purchased a new position in shares of Canadian Natural Resources during the fourth quarter valued at approximately $25,000. Sandy Spring Bank purchased a new stake in Canadian Natural Resources during the fourth quarter valued at approximately $31,000. CoreFirst Bank & Trust purchased a new stake in Canadian Natural Resources during the fourth quarter valued at approximately $31,000. Finally, Hurley Capital LLC purchased a new stake in Canadian Natural Resources during the fourth quarter valued at approximately $31,000. Institutional investors own 74.03% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts have commented on the stock. Royal Bank of Canada reaffirmed an "outperform" rating and set a $63.00 target price on shares of Canadian Natural Resources in a report on Thursday, March 27th. Tudor Pickering lowered shares of 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 research report on Wednesday, March 19th. Evercore ISI upgraded shares of Canadian Natural Resources from an "in-line" rating to an "outperform" rating in a research report on Friday, March 7th. Finally, Raymond James upgraded shares of Canadian Natural Resources from a "market perform" rating to an "outperform" rating in a research report on Wednesday, April 9th. Three research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat, Canadian Natural Resources presently has an average rating of "Moderate Buy" and an average price target of $63.00.

Canadian Natural Resources Price Performance

Shares of NYSE:CNQ traded up $0.56 during midday trading on Friday, reaching $31.55. 7,611,982 shares of the company were exchanged, compared to its average volume of 5,579,711. 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 business's fifty day moving average is $29.46 and its two-hundred day moving average is $30.40. Canadian Natural Resources Limited has a one year low of $24.65 and a one year high of $37.91. The stock has a market cap of $66.09 billion, a PE ratio of 12.25 and a beta of 1.03.

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 for the quarter, topping 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 quarter in the prior year, the business earned $1.37 earnings per share. As a group, analysts predict 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. Shareholders of record on Friday, June 13th will be given a dividend of $0.4227 per share. The ex-dividend date of this dividend is Friday, June 13th. This represents a $1.69 annualized dividend and a yield of 5.36%. This is a positive change from Canadian Natural Resources's previous quarterly dividend of $0.41. Canadian Natural Resources's dividend payout ratio (DPR) is 67.06%.

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).