Summit Global Investments Invests $1.18 Million in Canadian Natural Resources Limited (NYSE:CNQ)

Summit Global Investments purchased a new position in shares of Canadian Natural Resources Limited (NYSE:CNQ - Free Report) TSE: CNQ in the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 38,264 shares of the oil and gas producer's stock, valued at approximately $1,179,000.

Other large investors also recently made changes to their positions in the company. Barclays PLC boosted its stake in Canadian Natural Resources by 23.4% during the 3rd quarter. Barclays PLC now owns 716,670 shares of the oil and gas producer's stock valued at $23,800,000 after purchasing an additional 136,107 shares during the period. Fifth Third Bancorp boosted its stake in Canadian Natural Resources by 51.0% during the 4th quarter. Fifth Third Bancorp now owns 1,271 shares of the oil and gas producer's stock valued at $39,000 after purchasing an additional 429 shares during the period. Blue Trust Inc. boosted its stake in Canadian Natural Resources by 40.1% during the 4th quarter. Blue Trust Inc. now owns 7,033 shares of the oil and gas producer's stock valued at $234,000 after purchasing an additional 2,014 shares during the period. R Squared Ltd bought a new stake in Canadian Natural Resources during the 4th quarter valued at approximately $32,000. Finally, Mediolanum International Funds Ltd boosted its stake in Canadian Natural Resources by 85.8% during the 4th quarter. Mediolanum International Funds Ltd now owns 147,686 shares of the oil and gas producer's stock valued at $4,447,000 after purchasing an additional 68,218 shares during the period. Institutional investors own 74.03% of the company's stock.

Canadian Natural Resources Stock Performance

Shares of CNQ stock traded down $0.55 during mid-day trading on Wednesday, reaching $30.90. The stock had a trading volume of 3,902,470 shares, compared to its average volume of 5,546,000. The firm's 50 day simple moving average is $29.44 and its 200 day simple moving average is $30.43. The company has a quick ratio of 0.53, a current ratio of 0.84 and a debt-to-equity ratio of 0.21. Canadian Natural Resources Limited has a one year low of $24.65 and a one year high of $37.91. The firm has a market cap of $64.73 billion, a PE ratio of 12.00 and a beta of 1.04.

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, topping analysts' consensus estimates of $0.73 by $0.08. Canadian Natural Resources had a return on equity of 20.07% and a net margin of 18.45%. The business had revenue of $6.96 billion during the quarter, compared to analysts' expectations of $10.14 billion. During the same period in the prior year, the firm posted $1.37 EPS. On average, analysts forecast that Canadian Natural Resources Limited will post 2.45 EPS for the current year.

Canadian Natural Resources Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, July 3rd. Stockholders of record on Friday, June 13th will be issued a $0.4227 dividend. The ex-dividend date of this dividend is Friday, June 13th. This is a boost from Canadian Natural Resources's previous quarterly dividend of $0.41. This represents a $1.69 dividend on an annualized basis and a dividend yield of 5.47%. Canadian Natural Resources's dividend payout ratio is presently 63.92%.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the company. Royal Bank of Canada restated an "outperform" rating and set a $63.00 target price on shares of Canadian Natural Resources in a research note on Thursday, March 27th. Raymond James upgraded Canadian Natural Resources from a "market perform" rating to an "outperform" rating in a research report on Wednesday, April 9th. Scotiabank upgraded Canadian Natural Resources from a "sector perform" rating to a "sector outperform" rating in a research report on Wednesday, March 19th. Evercore ISI upgraded Canadian Natural Resources from an "in-line" rating to an "outperform" rating in a research report on Friday, March 7th. Finally, Tudor Pickering downgraded Canadian Natural Resources from a "strong-buy" rating to a "hold" rating in a research report on Monday, February 10th. Three analysts have rated the stock with a hold rating and four have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $63.00.

Canadian Natural Resources Company 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).