Ted Buchan & Co Has $1.01 Million Stake in Canadian Natural Resources Limited (NYSE:CNQ)

Key Points

• Ted Buchan & Co increased its stake in Canadian Natural Resources Limited by 64.0%, owning 32,889 shares valued at approximately $1.01 million at the end of the first quarter.
• Major institutional investors, including Goldman Sachs and Bank of Nova Scotia, significantly boosted their stakes in the company, reflecting strong confidence in its market position.
• Canadian Natural Resources announced an increase in its quarterly dividend to $0.4269 per share, providing a dividend yield of 5.7% for investors.

Ted Buchan & Co boosted its stake in Canadian Natural Resources Limited (NYSE:CNQ - Free Report) TSE: CNQ by 64.0% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 32,889 shares of the oil and gas producer's stock after buying an additional 12,833 shares during the quarter. Ted Buchan & Co's holdings in Canadian Natural Resources were worth $1,013,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of CNQ. Goldman Sachs Group Inc. boosted its stake in Canadian Natural Resources by 240.8% in the 1st quarter. Goldman Sachs Group Inc. now owns 22,776,594 shares of the oil and gas producer's stock valued at $701,519,000 after buying an additional 16,094,168 shares in the last quarter. Bank of Nova Scotia boosted its stake in Canadian Natural Resources by 86.6% in the 1st 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 buying an additional 11,259,267 shares in the last quarter. Canoe Financial LP boosted its stake in Canadian Natural Resources by 403.7% in the 1st quarter. Canoe Financial LP now owns 4,738,577 shares of the oil and gas producer's stock valued at $145,828,000 after buying an additional 3,797,846 shares in the last quarter. T. Rowe Price Investment Management Inc. boosted its stake in Canadian Natural Resources by 7.3% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 34,052,775 shares of the oil and gas producer's stock worth $1,051,210,000 after purchasing an additional 2,312,437 shares in the last quarter. Finally, Nuveen LLC acquired a new position in Canadian Natural Resources in the first quarter worth $68,342,000. Institutional investors and hedge funds own 74.03% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on CNQ shares. Scotiabank reissued an "outperform" rating on shares of Canadian Natural Resources in a research note on Friday, July 11th. National Bankshares reissued a "sector perform" rating on shares of Canadian Natural Resources in a research note on Thursday, July 17th. Raymond James Financial reissued an "outperform" rating on shares of Canadian Natural Resources in a research note on Friday, August 8th. Finally, Royal Bank Of Canada reduced their price objective 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. Three investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $62.00.

Canadian Natural Resources Price Performance

Canadian Natural Resources stock opened at $29.93 on Thursday. The firm has a market cap of $62.53 billion, a P/E ratio of 10.61 and a beta of 1.05. Canadian Natural Resources Limited has a 52 week low of $24.65 and a 52 week high of $37.91. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.54 and a current ratio of 0.85. The business's fifty day moving average is $31.73 and its two-hundred day moving average is $30.35.

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 analysts' consensus estimates 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 return on equity of 19.67% and a net margin of 19.00%. During the same quarter in the previous year, the company posted $0.88 earnings per share. Equities research analysts forecast that Canadian Natural Resources Limited will post 2.45 earnings per share for the current fiscal year.

Canadian Natural Resources Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, October 3rd. Stockholders of record on Friday, September 19th will be given a dividend of $0.4269 per share. The ex-dividend date is Friday, September 19th. This is an increase from Canadian Natural Resources's previous quarterly dividend of $0.42. This represents a $1.71 dividend on an annualized basis and a dividend yield of 5.7%. Canadian Natural Resources's dividend payout ratio is presently 60.64%.

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).

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