Eagle Ridge Investment Management boosted its holdings in Canadian Natural Resources Ltd (NYSE:CNQ) (TSE:CNQ) by 23.0% in the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 46,639 shares of the oil and gas producer’s stock after purchasing an additional 8,730 shares during the period. Eagle Ridge Investment Management’s holdings in Canadian Natural Resources were worth $1,283,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also modified their holdings of the stock. Aviva PLC lifted its holdings in Canadian Natural Resources by 64.0% during the 4th quarter. Aviva PLC now owns 958,112 shares of the oil and gas producer’s stock worth $23,151,000 after buying an additional 373,741 shares during the last quarter. Toronto Dominion Bank lifted its holdings in Canadian Natural Resources by 65.5% during the 1st quarter. Toronto Dominion Bank now owns 8,964,876 shares of the oil and gas producer’s stock worth $246,106,000 after buying an additional 3,549,063 shares during the last quarter. Jarislowsky Fraser Ltd lifted its holdings in Canadian Natural Resources by 5.2% during the 4th quarter. Jarislowsky Fraser Ltd now owns 18,980,095 shares of the oil and gas producer’s stock worth $457,756,000 after buying an additional 934,175 shares during the last quarter. Mackenzie Financial Corp lifted its holdings in Canadian Natural Resources by 2.0% during the 4th quarter. Mackenzie Financial Corp now owns 20,882,645 shares of the oil and gas producer’s stock worth $503,898,000 after buying an additional 410,192 shares during the last quarter. Finally, Capital Innovations LLC bought a new position in Canadian Natural Resources during the 1st quarter worth approximately $988,000. 68.69% of the stock is owned by hedge funds and other institutional investors.
Shares of Canadian Natural Resources stock opened at $27.80 on Friday. Canadian Natural Resources Ltd has a twelve month low of $21.85 and a twelve month high of $38.20. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.43 and a current ratio of 0.76. The company has a market cap of $33.28 billion, a PE ratio of 13.69, a P/E/G ratio of 2.10 and a beta of 1.20.
The firm also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Friday, June 14th will be given a $0.2794 dividend. This represents a $1.12 annualized dividend and a yield of 4.02%. The ex-dividend date of this dividend is Thursday, June 13th. Canadian Natural Resources’s dividend payout ratio is currently 53.02%.
A number of research firms have commented on CNQ. Raymond James reaffirmed a “buy” rating on shares of Canadian Natural Resources in a report on Friday, May 10th. Royal Bank of Canada reaffirmed an “average” rating and set a $45.00 target price on shares of Canadian Natural Resources in a report on Friday, May 10th. Zacks Investment Research cut Canadian Natural Resources from a “hold” rating to a “sell” rating in a research report on Tuesday, March 12th. ValuEngine upgraded Canadian Natural Resources from a “sell” rating to a “hold” rating in a research report on Thursday, March 14th. Finally, Morgan Stanley reiterated a “buy” rating on shares of Canadian Natural Resources in a research report on Tuesday, January 29th. Four investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the stock. The stock has an average rating of “Buy” and an average target price of $41.31.
Canadian Natural Resources Profile
Canadian Natural Resources Limited explores for, develops, produces, and markets crude oil, natural gas, and natural gas liquids (NGLs). The company offers synthetic crude oil (SCO), light and medium crude oil, bitumen (thermal oil), primary heavy crude oil, and Pelican Lake heavy crude oil. Its midstream assets include two crude oil pipeline systems; and a 50% working interest in an 84-megawatt cogeneration plant at Primrose.
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