Advisors Asset Management Inc. Increases Stake in Canadian Natural Resources Limited (NYSE:CNQ)

Advisors Asset Management Inc. grew its position in Canadian Natural Resources Limited (NYSE:CNQ) (TSE:CNQ) by 4.0% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 49,142 shares of the oil and gas producer’s stock after acquiring an additional 1,893 shares during the quarter. Advisors Asset Management Inc.’s holdings in Canadian Natural Resources were worth $1,632,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in CNQ. Sei Investments Co. increased its stake in Canadian Natural Resources by 11.7% in the 1st quarter. Sei Investments Co. now owns 13,592 shares of the oil and gas producer’s stock worth $1,037,000 after buying an additional 1,423 shares during the period. Acadian Asset Management LLC increased its stake in Canadian Natural Resources by 95.5% in the 1st quarter. Acadian Asset Management LLC now owns 4,300 shares of the oil and gas producer’s stock worth $327,000 after buying an additional 2,100 shares during the period. Price T Rowe Associates Inc. MD increased its stake in Canadian Natural Resources by 7.7% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 3,484,652 shares of the oil and gas producer’s stock worth $265,949,000 after buying an additional 247,823 shares during the period. Bayesian Capital Management LP increased its stake in Canadian Natural Resources by 8.8% in the 1st quarter. Bayesian Capital Management LP now owns 9,600 shares of the oil and gas producer’s stock worth $733,000 after buying an additional 776 shares during the period. Finally, Dynasty Wealth Management LLC purchased a new position in Canadian Natural Resources in the 1st quarter worth about $1,074,000. Hedge funds and other institutional investors own 74.03% of the company’s stock.

Wall Street Analyst Weigh In

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

Canadian Natural Resources Stock Up 0.8 %

Shares of Canadian Natural Resources stock opened at $34.84 on Monday. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.84 and a quick ratio of 0.53. Canadian Natural Resources Limited has a 1 year low of $29.45 and a 1 year high of $41.29. The firm’s 50-day moving average is $34.59 and its two-hundred day moving average is $35.33. The stock has a market cap of $73.53 billion, a price-to-earnings ratio of 13.56 and a beta of 1.50.

Canadian Natural Resources (NYSE:CNQ) (TSE:CNQ) last issued its earnings results on Thursday, October 31st. The oil and gas producer reported $0.97 earnings per share (EPS) for the quarter, topping the consensus estimate 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 company had revenue of $7.62 billion for the quarter, compared to analysts’ expectations of $6.40 billion. During the same period in the prior year, the business earned $0.96 EPS. As a group, research analysts expect that Canadian Natural Resources Limited will post 2.44 earnings per share for the current fiscal year.

Canadian Natural Resources Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 3rd. Shareholders of record on Friday, December 13th will be issued a dividend of $0.388 per share. This represents a $1.55 annualized dividend and a yield of 4.45%. This is a boost 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 64.59%.

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).