Orion Portfolio Solutions LLC Has $2.71 Million Stock Position in Canadian Natural Resources Limited (NYSE:CNQ)

Orion Portfolio Solutions LLC raised its stake in shares of Canadian Natural Resources Limited (NYSE:CNQ - Free Report) TSE: CNQ by 460.0% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 81,457 shares of the oil and gas producer's stock after buying an additional 66,910 shares during the period. Orion Portfolio Solutions LLC's holdings in Canadian Natural Resources were worth $2,705,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Fisher Asset Management LLC increased its stake in shares of Canadian Natural Resources by 3.9% in the third quarter. Fisher Asset Management LLC now owns 43,581,024 shares of the oil and gas producer's stock worth $1,447,326,000 after purchasing an additional 1,651,452 shares during the period. TD Asset Management Inc raised its stake in 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 valued at $1,514,190,000 after purchasing an additional 20,843,193 shares during the last quarter. 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 purchasing an additional 19,980,902 shares during the period. 1832 Asset Management L.P. grew its position in 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 buying an additional 16,245,046 shares in the last quarter. Finally, Mackenzie Financial Corp lifted its position in shares of Canadian Natural Resources by 90.3% in the 2nd quarter. Mackenzie Financial Corp now owns 30,017,414 shares of the oil and gas producer's stock worth $1,069,338,000 after acquiring an additional 14,246,978 shares during the period. Institutional investors and hedge funds own 74.03% of the company's stock.

Canadian Natural Resources Price Performance

Shares of NYSE:CNQ traded up $0.40 during trading on Wednesday, reaching $32.52. The stock had a trading volume of 8,550,919 shares, compared to its average volume of 5,254,621. The business's 50-day moving average price is $34.55 and its 200 day moving average price is $34.91. Canadian Natural Resources Limited has a 52 week low of $29.45 and a 52 week high of $41.29. The stock has a market capitalization of $68.63 billion, a PE ratio of 12.56 and a beta of 1.47. 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 (NYSE:CNQ - Get Free Report) TSE: CNQ last issued its quarterly 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 business had revenue of $7.62 billion for the quarter, compared to the consensus estimate of $6.40 billion. During the same quarter in the prior year, the company earned $0.96 EPS. As a group, equities analysts predict that Canadian Natural Resources Limited will post 2.47 earnings per share for the current year.

Canadian Natural Resources Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 3rd. Investors of record on Friday, December 13th will be issued a $0.388 dividend. This represents a $1.55 dividend on an annualized basis and a yield of 4.77%. The ex-dividend date is Friday, December 13th. This is an increase from Canadian Natural Resources's previous quarterly dividend of $0.38. Canadian Natural Resources's dividend payout ratio is currently 64.59%.

Analysts Set New Price Targets

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

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).