Value Partners Investments Inc. Purchases 15,148 Shares of Canadian Natural Resources Limited (NYSE:CNQ)

Value Partners Investments Inc. lifted its position in Canadian Natural Resources Limited (NYSE:CNQ - Free Report) TSE: CNQ by 55.3% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 42,564 shares of the oil and gas producer's stock after purchasing an additional 15,148 shares during the quarter. Value Partners Investments Inc.'s holdings in Canadian Natural Resources were worth $1,311,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the company. Golden State Wealth Management LLC raised its stake in shares of Canadian Natural Resources by 99.7% in the first quarter. Golden State Wealth Management LLC now owns 22,400 shares of the oil and gas producer's stock valued at $690,000 after purchasing an additional 11,181 shares in the last quarter. Oppenheimer & Co. Inc. raised its stake in shares of Canadian Natural Resources by 54.7% in the first quarter. Oppenheimer & Co. Inc. now owns 48,964 shares of the oil and gas producer's stock valued at $1,508,000 after purchasing an additional 17,308 shares in the last quarter. Intact Investment Management Inc. raised its stake in shares of Canadian Natural Resources by 86.4% in the first quarter. Intact Investment Management Inc. now owns 1,818,610 shares of the oil and gas producer's stock valued at $55,967,000 after purchasing an additional 842,730 shares in the last quarter. Jamison Private Wealth Management Inc. raised its stake in shares of Canadian Natural Resources by 29.9% in the first quarter. Jamison Private Wealth Management Inc. now owns 15,228 shares of the oil and gas producer's stock valued at $469,000 after purchasing an additional 3,509 shares in the last quarter. Finally, Canoe Financial LP raised its stake in shares of Canadian Natural Resources by 403.7% in 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 purchasing an additional 3,797,846 shares in the last quarter. 74.03% of the stock is currently owned by institutional investors and hedge funds.

Canadian Natural Resources Price Performance

Canadian Natural Resources stock traded down $0.47 during mid-day trading on Friday, hitting $31.45. 7,307,120 shares of the company were exchanged, compared to its average volume of 5,769,380. The company has a quick ratio of 0.53, a current ratio of 0.84 and a debt-to-equity ratio of 0.40. The business has a fifty day moving average of $30.89 and a 200 day moving average of $30.32. Canadian Natural Resources Limited has a 1-year low of $24.65 and a 1-year high of $37.91. The company has a market capitalization of $65.78 billion, a PE ratio of 12.33 and a beta of 1.03.

Canadian Natural Resources (NYSE:CNQ - Get Free Report) TSE: CNQ last announced its earnings results on Thursday, May 8th. The oil and gas producer reported $0.81 EPS for the quarter, topping the consensus estimate of $0.73 by $0.08. The company had revenue of $6.96 billion for the quarter, compared to analysts' expectations of $10.14 billion. Canadian Natural Resources had a return on equity of 20.90% and a net margin of 16.92%. During the same quarter in the prior year, the business earned $1.37 earnings per share. As a group, sell-side analysts expect 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 announced a quarterly dividend, which will be paid on Thursday, July 3rd. Stockholders of record on Friday, June 13th will be issued a dividend of $0.4227 per share. This represents a $1.69 annualized dividend and a dividend yield of 5.38%. The ex-dividend date is Friday, June 13th. This is a boost from Canadian Natural Resources's previous quarterly dividend of $0.41. Canadian Natural Resources's dividend payout ratio is presently 67.06%.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on CNQ shares. Raymond James Financial upgraded Canadian Natural Resources from a "market perform" rating to an "outperform" rating in a research note on Wednesday, April 9th. Evercore ISI upgraded Canadian Natural Resources from an "in-line" rating to an "outperform" rating in a research note on Friday, March 7th. Royal Bank Of Canada reiterated an "outperform" rating and set a $63.00 price objective on shares of Canadian Natural Resources in a research note on Thursday, March 27th. Finally, Scotiabank upgraded Canadian Natural Resources from a "sector perform" rating to a "sector outperform" rating in a research note on Wednesday, March 19th. Three research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $63.00.

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).