Canadian Natural Resources Limited $CNQ Shares Purchased by Turn8 Private Wealth Inc.

Turn8 Private Wealth Inc. increased its position in shares of Canadian Natural Resources Limited (NYSE:CNQ) (TSE:CNQ) by 9.7% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 91,412 shares of the oil and gas producer’s stock after buying an additional 8,074 shares during the quarter. Canadian Natural Resources comprises 2.2% of Turn8 Private Wealth Inc.’s investment portfolio, making the stock its 28th biggest holding. Turn8 Private Wealth Inc.’s holdings in Canadian Natural Resources were worth $2,814,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of CNQ. Brandywine Global Investment Management LLC increased its holdings in shares of Canadian Natural Resources by 27.5% in the 1st quarter. Brandywine Global Investment Management LLC now owns 2,183,598 shares of the oil and gas producer’s stock valued at $67,201,000 after acquiring an additional 470,391 shares during the period. Sei Investments Co. grew its position in Canadian Natural Resources by 41.9% during the 1st quarter. Sei Investments Co. now owns 49,307 shares of the oil and gas producer’s stock worth $1,519,000 after purchasing an additional 14,561 shares during the last quarter. Baird Financial Group Inc. grew its position in Canadian Natural Resources by 594.8% during the 1st quarter. Baird Financial Group Inc. now owns 133,501 shares of the oil and gas producer’s stock worth $4,112,000 after purchasing an additional 114,287 shares during the last quarter. Graybill Wealth Management LTD. acquired a new position in Canadian Natural Resources in the first quarter valued at $3,697,000. Finally, Janney Montgomery Scott LLC purchased a new stake in shares of Canadian Natural Resources in the first quarter valued at about $757,000. 74.03% of the stock is owned by institutional investors and hedge funds.

Canadian Natural Resources Price Performance

Shares of NYSE:CNQ opened at $31.18 on Thursday. Canadian Natural Resources Limited has a 52 week low of $24.65 and a 52 week high of $37.91. The company has a 50-day moving average price of $31.07 and a 200 day moving average price of $30.38. The company has a market cap of $65.07 billion, a P/E ratio of 11.06 and a beta of 1.03. The company has a quick ratio of 0.54, a current ratio of 0.85 and a debt-to-equity ratio of 0.38.

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

Canadian Natural Resources Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, October 3rd. Stockholders of record on Friday, September 19th will be paid a dividend of $0.4269 per share. This is a boost from Canadian Natural Resources’s previous quarterly dividend of $0.42. The ex-dividend date of this dividend is Friday, September 19th. This represents a $1.71 dividend on an annualized basis and a dividend yield of 5.5%. Canadian Natural Resources’s dividend payout ratio is currently 60.64%.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the stock. Raymond James Financial reiterated an “outperform” rating on shares of Canadian Natural Resources in a research note on Friday, August 8th. Royal Bank Of Canada reduced their price objective on Canadian Natural Resources from $64.00 to $62.00 and set an “outperform” rating for the company in a research note on Friday, August 8th. Zacks Research upgraded Canadian Natural Resources from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, August 26th. Scotiabank reissued an “outperform” rating on shares of Canadian Natural Resources in a report on Friday, July 11th. Finally, National Bankshares restated a “sector perform” rating on shares of Canadian Natural Resources in a research note on Thursday, July 17th. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $62.00.

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).