Hillsdale Investment Management Inc. raised its position in shares of Canadian Natural Resources Ltd (NYSE:CNQ) (TSE:CNQ) by 92.9% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 662,350 shares of the oil and gas producer’s stock after buying an additional 319,050 shares during the period. Canadian Natural Resources comprises about 1.8% of Hillsdale Investment Management Inc.’s holdings, making the stock its 9th largest holding. Hillsdale Investment Management Inc. owned about 0.06% of Canadian Natural Resources worth $17,844,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP grew its position in shares of Canadian Natural Resources by 33.3% during the fourth quarter. Dimensional Fund Advisors LP now owns 6,046,432 shares of the oil and gas producer’s stock worth $145,900,000 after purchasing an additional 1,508,995 shares in the last quarter. Geode Capital Management LLC grew its stake in Canadian Natural Resources by 23.7% during the 4th quarter. Geode Capital Management LLC now owns 11,718 shares of the oil and gas producer’s stock worth $282,000 after buying an additional 2,242 shares during the last quarter. Gulf International Bank UK Ltd grew its stake in Canadian Natural Resources by 2.6% during the 1st quarter. Gulf International Bank UK Ltd now owns 23,708 shares of the oil and gas producer’s stock worth $651,000 after buying an additional 600 shares during the last quarter. Barometer Capital Management Inc. purchased a new position in Canadian Natural Resources during the 1st quarter worth $11,403,000. Finally, Guinness Asset Management Ltd grew its stake in Canadian Natural Resources by 23.9% during the 1st quarter. Guinness Asset Management Ltd now owns 439,831 shares of the oil and gas producer’s stock worth $12,079,000 after buying an additional 84,700 shares during the last quarter. Institutional investors and hedge funds own 65.34% of the company’s stock.
Several analysts have weighed in on CNQ shares. Royal Bank of Canada reiterated an “average” rating and set a $45.00 price target on shares of Canadian Natural Resources in a research note on Friday, May 10th. Edward Jones cut Canadian Natural Resources from a “buy” rating to a “hold” rating in a report on Thursday, April 25th. Goldman Sachs Group reissued a “neutral” rating on shares of Canadian Natural Resources in a report on Monday, July 22nd. Canaccord Genuity reissued a “buy” rating and set a $53.00 target price on shares of Canadian Natural Resources in a report on Tuesday, July 9th. Finally, CIBC reissued a “buy” rating and set a $48.00 target price on shares of Canadian Natural Resources in a report on Sunday, August 4th. Six analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus price target of $41.88.
Canadian Natural Resources (NYSE:CNQ) (TSE:CNQ) last released its quarterly earnings results on Thursday, August 1st. The oil and gas producer reported $0.87 EPS for the quarter, topping the consensus estimate of $0.62 by $0.25. Canadian Natural Resources had a return on equity of 8.62% and a net margin of 22.22%. The business had revenue of $4.16 billion during the quarter, compared to analyst estimates of $4.36 billion. During the same period last year, the business posted $1.04 earnings per share. On average, equities analysts expect that Canadian Natural Resources Ltd will post 2.4 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Friday, September 13th will be given a dividend of $0.284 per share. This is a positive change from Canadian Natural Resources’s previous quarterly dividend of $0.28. This represents a $1.14 annualized dividend and a dividend yield of 4.85%. The ex-dividend date of this dividend is Thursday, September 12th. Canadian Natural Resources’s dividend payout ratio (DPR) is currently 51.63%.
About Canadian Natural Resources
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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