Canoe Financial LP Buys 1,074,199 Shares of Canadian Natural Resources Limited (NYSE:CNQ)

Canoe Financial LP grew its holdings in shares of Canadian Natural Resources Limited (NYSE:CNQ - Free Report) TSE: CNQ by 226.0% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,549,610 shares of the oil and gas producer's stock after buying an additional 1,074,199 shares during the quarter. Canadian Natural Resources makes up 1.2% of Canoe Financial LP's portfolio, making the stock its 26th largest position. Canoe Financial LP owned about 0.07% of Canadian Natural Resources worth $51,469,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the business. Capital World Investors grew its position in shares of Canadian Natural Resources by 0.5% in the 1st quarter. Capital World Investors now owns 144,344,207 shares of the oil and gas producer's stock valued at $11,011,765,000 after acquiring an additional 684,532 shares during the period. Vanguard Group Inc. raised its stake in Canadian Natural Resources by 1.7% in the first quarter. Vanguard Group Inc. now owns 43,813,537 shares of the oil and gas producer's stock valued at $3,343,849,000 after buying an additional 714,346 shares during the period. TD Asset Management Inc boosted its stake in shares of Canadian Natural Resources by 96.2% during the 2nd quarter. TD Asset Management Inc now owns 42,518,833 shares of the oil and gas producer's stock worth $1,514,190,000 after acquiring an additional 20,843,193 shares during the period. Canada Pension Plan Investment Board increased its holdings in shares of Canadian Natural Resources by 93.0% during the 2nd 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 acquiring an additional 19,980,902 shares during the last quarter. Finally, 1832 Asset Management L.P. raised its stake in Canadian Natural Resources by 105.3% in the 2nd quarter. 1832 Asset Management L.P. now owns 31,668,045 shares of the oil and gas producer's stock valued at $1,127,382,000 after acquiring an additional 16,245,046 shares during the period. 74.03% of the stock is currently owned by institutional investors and hedge funds.

Canadian Natural Resources Stock Performance

Shares of NYSE:CNQ traded down $0.83 on Monday, reaching $34.72. 3,481,383 shares of the company's stock were exchanged, compared to its average volume of 5,415,471. Canadian Natural Resources Limited has a twelve month low of $29.45 and a twelve month high of $41.29. The company has a fifty day moving average of $34.92 and a 200-day moving average of $35.95. The company has a market capitalization of $73.88 billion, a price-to-earnings ratio of 14.16 and a beta of 1.50. The company has a current ratio of 0.88, a quick ratio of 0.59 and a debt-to-equity ratio of 0.24.

Canadian Natural Resources (NYSE:CNQ - Get Free Report) TSE: CNQ last issued its quarterly earnings results on Thursday, August 1st. The oil and gas producer reported $0.88 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.62 by $0.26. The business had revenue of $7.76 billion for the quarter, compared to the consensus estimate of $6.19 billion. Canadian Natural Resources had a return on equity of 22.09% and a net margin of 18.05%. During the same quarter in the prior year, the business posted $0.43 earnings per share. On average, research analysts predict that Canadian Natural Resources Limited will post 2.5 EPS for the current fiscal year.

Canadian Natural Resources Increases Dividend

The business also recently declared 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. The ex-dividend date is Friday, December 13th. This represents a $1.55 dividend on an annualized basis and a dividend yield of 4.47%. This is a boost from Canadian Natural Resources's previous quarterly dividend of $0.38. Canadian Natural Resources's dividend payout ratio (DPR) is presently 66.14%.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the stock. Wolfe Research assumed coverage on shares of Canadian Natural Resources in a research report on Thursday, July 18th. They issued a "peer perform" rating on the stock. Desjardins raised Canadian Natural Resources from a "hold" rating to a "moderate buy" rating in a research report on Tuesday, October 8th. Finally, StockNews.com cut Canadian Natural Resources from a "buy" rating to a "hold" rating in a report on Friday, August 23rd. Five research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat.com, Canadian Natural Resources currently has an average rating of "Hold" and a consensus price target of $49.50.

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).