Canadian Natural Resources Limited $CNQ Shares Acquired by QV Investors Inc.

QV Investors Inc. grew its position in Canadian Natural Resources Limited (NYSE:CNQ) (TSE:CNQ) by 0.6% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 627,619 shares of the oil and gas producer’s stock after acquiring an additional 3,751 shares during the period. Canadian Natural Resources comprises approximately 1.9% of QV Investors Inc.’s investment portfolio, making the stock its 13th biggest position. QV Investors Inc.’s holdings in Canadian Natural Resources were worth $19,686,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of CNQ. Wealth Enhancement Advisory Services LLC raised its position in shares of Canadian Natural Resources by 8.1% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 36,803 shares of the oil and gas producer’s stock worth $1,134,000 after purchasing an additional 2,756 shares during the last quarter. Janney Montgomery Scott LLC acquired a new position in shares of Canadian Natural Resources during the 1st quarter worth about $757,000. Oppenheimer & Co. Inc. raised its position in shares of Canadian Natural Resources by 54.7% during the 1st quarter. Oppenheimer & Co. Inc. now owns 48,964 shares of the oil and gas producer’s stock worth $1,508,000 after purchasing an additional 17,308 shares during the last quarter. PDS Planning Inc raised its position in shares of Canadian Natural Resources by 19.8% during the 1st quarter. PDS Planning Inc now owns 10,278 shares of the oil and gas producer’s stock worth $317,000 after purchasing an additional 1,697 shares during the last quarter. Finally, Gold Investment Management Ltd. raised its position in shares of Canadian Natural Resources by 2.0% during the 1st quarter. Gold Investment Management Ltd. now owns 92,521 shares of the oil and gas producer’s stock worth $2,848,000 after purchasing an additional 1,834 shares during the last quarter. Institutional investors and hedge funds own 74.03% of the company’s stock.

Canadian Natural Resources Stock Performance

Canadian Natural Resources stock opened at $31.28 on Friday. The firm has a 50 day simple moving average of $31.39 and a 200-day simple moving average of $30.97. Canadian Natural Resources Limited has a 1-year low of $24.65 and a 1-year high of $35.63. The company has a debt-to-equity ratio of 0.38, a current ratio of 0.85 and a quick ratio of 0.54. The stock has a market cap of $65.29 billion, a price-to-earnings ratio of 11.09 and a beta of 0.97.

Canadian Natural Resources (NYSE:CNQ) (TSE:CNQ) last posted its quarterly earnings results on Thursday, August 7th. The oil and gas producer reported $0.51 earnings per share for the quarter, beating the consensus estimate of $0.44 by $0.07. Canadian Natural Resources had a net margin of 19.00% and a return on equity of 19.67%. The business had revenue of $6.39 billion during the quarter, compared to analysts’ expectations of $8.97 billion. During the same quarter in the prior year, the company posted $0.88 EPS. On average, analysts expect that Canadian Natural Resources Limited will post 2.45 EPS for the current year.

Canadian Natural Resources Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 3rd. Stockholders of record on Friday, September 19th were issued a $0.4269 dividend. The ex-dividend date was Friday, September 19th. This represents a $1.71 annualized dividend and a dividend yield of 5.5%. This is an increase from Canadian Natural Resources’s previous quarterly dividend of $0.42. Canadian Natural Resources’s dividend payout ratio (DPR) is currently 60.64%.

Analysts Set New Price Targets

Several analysts recently issued reports on CNQ shares. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $62.00 price objective on shares of Canadian Natural Resources in a research note on Wednesday, September 24th. Zacks Research raised shares of Canadian Natural Resources from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, August 26th. TD Securities reaffirmed a “buy” rating on shares of Canadian Natural Resources in a research note on Tuesday, September 30th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Canadian Natural Resources in a research note on Friday. Finally, Scotiabank reaffirmed an “outperform” rating on shares of Canadian Natural Resources in a research note on Thursday, October 9th. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $62.00.

Canadian Natural Resources Company 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).