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

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

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Lighthouse Investment Partners LLC purchased a new stake in Canadian Natural Resources during the second quarter valued at approximately $890,000. Canoe Financial LP increased its holdings in Canadian Natural Resources by 226.0% during the third quarter. Canoe Financial LP now owns 1,549,610 shares of the oil and gas producer’s stock valued at $51,469,000 after buying an additional 1,074,199 shares during the last quarter. Aigen Investment Management LP boosted its position in shares of Canadian Natural Resources by 123.0% in the third quarter. Aigen Investment Management LP now owns 54,323 shares of the oil and gas producer’s stock worth $1,804,000 after purchasing an additional 29,961 shares during the period. Capital Wealth Planning LLC boosted its position in shares of Canadian Natural Resources by 228.5% in the second quarter. Capital Wealth Planning LLC now owns 91,652 shares of the oil and gas producer’s stock worth $3,263,000 after purchasing an additional 63,756 shares during the period. Finally, Souders Financial Advisors boosted its position in shares of Canadian Natural Resources by 103.0% in the second quarter. Souders Financial Advisors now owns 99,999 shares of the oil and gas producer’s stock worth $3,560,000 after purchasing an additional 50,744 shares during the period. 74.03% of the stock is owned by hedge funds and other institutional investors.

Canadian Natural Resources Price Performance

Shares of NYSE:CNQ opened at $34.84 on Monday. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.53 and a current ratio of 0.84. The firm has a fifty day moving average price of $34.59 and a 200 day moving average price of $35.33. Canadian Natural Resources Limited has a fifty-two week low of $29.45 and a fifty-two week high of $41.29. The firm 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 for the quarter, topping analysts’ consensus estimates 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 firm had revenue of $7.62 billion during the quarter, compared to analyst estimates of $6.40 billion. During the same quarter in the prior year, the business earned $0.96 earnings per share. As a group, sell-side 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 business also recently announced a quarterly dividend, which will be paid on Friday, January 3rd. Investors of record on Friday, December 13th will be given a dividend of $0.388 per share. This is a positive change from Canadian Natural Resources’s previous quarterly dividend of $0.38. The ex-dividend date is Friday, December 13th. This represents a $1.55 dividend on an annualized basis and a dividend yield of 4.45%. Canadian Natural Resources’s dividend payout ratio is currently 64.59%.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on CNQ shares. Desjardins upgraded shares of Canadian Natural Resources from a “hold” rating to a “moderate buy” rating in a research report on Tuesday, October 8th. StockNews.com lowered shares of Canadian Natural Resources from a “buy” rating to a “hold” rating in a research report on Friday, August 23rd. Five equities research analysts have rated the stock with a hold rating, According to MarketBeat, Canadian Natural Resources currently has a consensus rating of “Hold” and a consensus price target 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).