HighTower Advisors LLC Boosts Holdings in Canadian Natural Resources Limited (NYSE:CNQ)

HighTower Advisors LLC lifted its stake in shares of Canadian Natural Resources Limited (NYSE:CNQ) (TSE:CNQ) by 24.3% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 181,062 shares of the oil and gas producer’s stock after purchasing an additional 35,417 shares during the period. HighTower Advisors LLC’s holdings in Canadian Natural Resources were worth $6,016,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently modified their holdings of the stock. TD Asset Management Inc raised its holdings in shares of Canadian Natural Resources by 96.2% during the second quarter. TD Asset Management Inc now owns 42,518,833 shares of the oil and gas producer’s stock valued at $1,514,190,000 after acquiring an additional 20,843,193 shares during the last quarter. Canada Pension Plan Investment Board increased its position in shares of Canadian Natural Resources by 93.0% during the second quarter. Canada Pension Plan Investment Board now owns 41,464,502 shares of the oil and gas producer’s stock worth $1,476,644,000 after purchasing an additional 19,980,902 shares in the last quarter. 1832 Asset Management L.P. increased its position in shares of Canadian Natural Resources by 105.3% during the second quarter. 1832 Asset Management L.P. now owns 31,668,045 shares of the oil and gas producer’s stock worth $1,127,382,000 after purchasing an additional 16,245,046 shares in the last quarter. Yacktman Asset Management LP increased its position in shares of Canadian Natural Resources by 95.9% during the second quarter. Yacktman Asset Management LP now owns 29,456,746 shares of the oil and gas producer’s stock worth $1,048,660,000 after purchasing an additional 14,418,835 shares in the last quarter. Finally, Mackenzie Financial Corp grew its holdings in shares of Canadian Natural Resources by 90.3% during the second quarter. Mackenzie Financial Corp now owns 30,017,414 shares of the oil and gas producer’s stock worth $1,069,338,000 after buying an additional 14,246,978 shares in the last quarter. Institutional investors and hedge funds own 74.03% of the company’s stock.

Canadian Natural Resources Stock Up 0.4 %

Shares of NYSE:CNQ opened at $32.40 on Tuesday. 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 52-week low of $29.45 and a 52-week high of $41.29. The business has a fifty day moving average of $34.60 and a two-hundred day moving average of $34.95. The stock has a market cap of $68.37 billion, a P/E ratio of 12.58 and a beta of 1.47.

Canadian Natural Resources (NYSE:CNQ) (TSE:CNQ) last announced its quarterly earnings data on Thursday, October 31st. The oil and gas producer reported $0.97 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.67 by $0.30. Canadian Natural Resources had a net margin of 18.45% and a return on equity of 20.07%. The firm had revenue of $7.62 billion during the quarter, compared to analyst estimates of $6.40 billion. During the same quarter in the prior year, the firm posted $0.96 earnings per share. On average, research analysts expect that Canadian Natural Resources Limited will post 2.47 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 Friday, January 3rd. Investors of record on Friday, December 13th will be given a $0.388 dividend. This represents a $1.55 annualized dividend and a yield of 4.79%. This is a positive change from Canadian Natural Resources’s previous quarterly dividend of $0.38. The ex-dividend date of this dividend is Friday, December 13th. Canadian Natural Resources’s dividend payout ratio is presently 60.58%.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on CNQ shares. Desjardins raised shares of Canadian Natural Resources from a “hold” rating to a “moderate buy” rating in a report on Tuesday, October 8th. StockNews.com cut shares of Canadian Natural Resources from a “buy” rating to a “hold” rating in a research note on Friday, August 23rd. Five research analysts have rated the stock with a hold rating, According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $51.00.

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).