Hillsdale Investment Management Inc. Has $16.57 Million Holdings in Canadian Natural Resources Limited $CNQ

Hillsdale Investment Management Inc. raised its holdings in shares of Canadian Natural Resources Limited (NYSE:CNQ) (TSE:CNQ) by 11.8% in the fourth quarter, Holdings Channel reports. The institutional investor owned 488,289 shares of the oil and gas producer’s stock after buying an additional 51,555 shares during the quarter. Hillsdale Investment Management Inc.’s holdings in Canadian Natural Resources were worth $16,568,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently modified their holdings of CNQ. AQR Capital Management LLC lifted its holdings in shares of Canadian Natural Resources by 85.5% during the first quarter. AQR Capital Management LLC now owns 18,090 shares of the oil and gas producer’s stock worth $557,000 after buying an additional 8,336 shares during the last quarter. Jones Financial Companies Lllp lifted its holdings in shares of Canadian Natural Resources by 92.7% during the first quarter. Jones Financial Companies Lllp now owns 29,096 shares of the oil and gas producer’s stock worth $896,000 after buying an additional 13,996 shares during the last quarter. Empowered Funds LLC lifted its holdings in shares of Canadian Natural Resources by 4.3% during the first quarter. Empowered Funds LLC now owns 79,374 shares of the oil and gas producer’s stock worth $2,445,000 after buying an additional 3,266 shares during the last quarter. Geneos Wealth Management Inc. lifted its holdings in shares of Canadian Natural Resources by 47.3% during the first quarter. Geneos Wealth Management Inc. now owns 1,644 shares of the oil and gas producer’s stock worth $51,000 after buying an additional 528 shares during the last quarter. Finally, EverSource Wealth Advisors LLC lifted its holdings in shares of Canadian Natural Resources by 65.5% during the second quarter. EverSource Wealth Advisors LLC now owns 4,513 shares of the oil and gas producer’s stock worth $142,000 after buying an additional 1,786 shares during the last quarter. 74.03% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts have recently commented on the company. Wall Street Zen upgraded Canadian Natural Resources from a “sell” rating to a “hold” rating in a report on Saturday, January 31st. The Goldman Sachs Group upped their price target on Canadian Natural Resources from $37.00 to $49.00 and gave the stock a “buy” rating in a report on Thursday, March 12th. ATB Cormark Capital Markets lowered Canadian Natural Resources from a “strong-buy” rating to a “moderate buy” rating in a research note on Thursday, March 5th. Weiss Ratings lowered Canadian Natural Resources from a “buy (b)” rating to a “buy (b-)” rating in a research note on Monday, May 11th. Finally, Raymond James Financial upgraded Canadian Natural Resources from a “market perform” rating to an “outperform” rating in a research note on Thursday, May 7th. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $57.00.

Canadian Natural Resources Stock Performance

Shares of NYSE CNQ opened at $45.37 on Friday. The business has a fifty day simple moving average of $47.01 and a 200 day simple moving average of $40.46. The company has a current ratio of 0.98, a quick ratio of 0.68 and a debt-to-equity ratio of 0.37. The firm has a market capitalization of $94.39 billion, a price-to-earnings ratio of 13.54 and a beta of 0.47. Canadian Natural Resources Limited has a one year low of $29.30 and a one year high of $51.34.

Canadian Natural Resources (NYSE:CNQ) (TSE:CNQ) last issued its earnings results on Thursday, May 7th. The oil and gas producer reported $0.85 EPS for the quarter, beating analysts’ consensus estimates of $0.74 by $0.11. The business had revenue of $7.72 billion during the quarter, compared to analyst estimates of $7.57 billion. Canadian Natural Resources had a return on equity of 17.49% and a net margin of 22.04%.During the same period in the prior year, the company posted $1.16 earnings per share. Sell-side analysts expect that Canadian Natural Resources Limited will post 4.2 EPS for the current year.

Canadian Natural Resources Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 7th. Investors of record on Tuesday, June 23rd will be paid a $0.625 dividend. This represents a $2.50 dividend on an annualized basis and a dividend yield of 5.5%. The ex-dividend date is Tuesday, June 23rd. Canadian Natural Resources’s dividend payout ratio is presently 54.63%.

About Canadian Natural Resources

Canadian Natural Resources Limited (NYSE: CNQ) is a Calgary-based independent oil and natural gas exploration and production company. Established in the early 1970s and publicly listed in Canada and the United States, the company is principally engaged in the exploration, development, production, and marketing of crude oil, natural gas and natural gas liquids. Its asset base spans conventional and unconventional reservoirs and includes oil sands mining and in-situ thermal projects, midstream processing and upgrading capacity, and related field operations.

The company’s operations are concentrated in Western Canada, where it develops heavy crude, bitumen from oil sands and conventional light crude and natural gas resources.