WCM Investment Management LLC Buys 121,590 Shares of Canadian Natural Resources Limited (NYSE:CNQ)

WCM Investment Management LLC raised its stake in shares of Canadian Natural Resources Limited (NYSE:CNQ - Free Report) TSE: CNQ by 2.8% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 4,463,643 shares of the oil and gas producer's stock after buying an additional 121,590 shares during the quarter. WCM Investment Management LLC owned about 0.21% of Canadian Natural Resources worth $136,409,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the stock. Lee Danner & Bass Inc. bought a new stake in shares of Canadian Natural Resources in the 4th quarter valued at $25,000. Hurley Capital LLC acquired a new position in Canadian Natural Resources in the fourth quarter valued at about $31,000. Sandy Spring Bank acquired a new position in Canadian Natural Resources in the fourth quarter valued at about $31,000. CoreFirst Bank & Trust bought a new stake in shares of Canadian Natural Resources in the fourth quarter worth about $31,000. Finally, Assetmark Inc. raised its position in shares of Canadian Natural Resources by 57.3% during the fourth quarter. Assetmark Inc. now owns 1,205 shares of the oil and gas producer's stock worth $37,000 after purchasing an additional 439 shares during the period. 74.03% of the stock is currently owned by institutional investors and hedge funds.

Canadian Natural Resources Stock Down 0.5%

NYSE:CNQ traded down $0.17 during trading hours on Friday, reaching $32.24. 2,616,468 shares of the stock were exchanged, compared to its average volume of 5,783,292. The stock has a market cap of $67.44 billion, a PE ratio of 12.64 and a beta of 1.03. Canadian Natural Resources Limited has a twelve month low of $24.65 and a twelve month high of $37.91. The firm has a 50 day moving average of $31.17 and a 200 day moving average of $30.32. The company has a debt-to-equity ratio of 0.40, a current ratio of 0.84 and a quick ratio of 0.53.

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 business had revenue of $6.96 billion during the quarter, compared to analysts' expectations of $10.14 billion. Canadian Natural Resources had a net margin of 16.92% and a return on equity of 20.90%. During the same quarter in the prior year, the company posted $1.37 earnings per share. On average, equities 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 disclosed a quarterly dividend, which was paid on Thursday, July 3rd. Stockholders of record on Friday, June 13th were paid a dividend of $0.4227 per share. This represents a $1.69 dividend on an annualized basis and a dividend yield of 5.24%. This is an increase from Canadian Natural Resources's previous quarterly dividend of $0.41. The ex-dividend date was Friday, June 13th. Canadian Natural Resources's dividend payout ratio is currently 67.06%.

Analysts Set New Price Targets

Several equities analysts recently issued reports on CNQ shares. Scotiabank upgraded Canadian Natural Resources from a "sector perform" rating to a "sector outperform" rating in a research report on Wednesday, March 19th. Royal Bank Of Canada reissued an "outperform" rating and set a $63.00 price objective on shares of Canadian Natural Resources in a research report on Thursday, March 27th. Raymond James Financial upgraded shares of Canadian Natural Resources from a "market perform" rating to an "outperform" rating in a report on Wednesday, April 9th. Finally, Evercore ISI raised shares of Canadian Natural Resources from an "in-line" rating to an "outperform" rating in a research report on Friday, March 7th. Three analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, the stock 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).