Mawer Investment Management Ltd. increased its position in Canadian Natural Resources Ltd (NYSE:CNQ) (TSE:CNQ) by 6.0% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 9,111,867 shares of the oil and gas producer’s stock after buying an additional 512,014 shares during the quarter. Canadian Natural Resources accounts for 1.6% of Mawer Investment Management Ltd.’s portfolio, making the stock its 23rd largest position. Mawer Investment Management Ltd. owned about 0.76% of Canadian Natural Resources worth $246,186,000 at the end of the most recent quarter.
A number of other large investors have also recently added to or reduced their stakes in the stock. Icon Wealth Partners LLC purchased a new position in Canadian Natural Resources in the 1st quarter worth approximately $28,000. Zions Bancorporation N.A. purchased a new position in Canadian Natural Resources in the 1st quarter worth approximately $28,000. Bremer Bank National Association purchased a new position in Canadian Natural Resources in the 1st quarter worth approximately $34,000. Huntington National Bank increased its stake in Canadian Natural Resources by 348.8% in the 2nd quarter. Huntington National Bank now owns 1,333 shares of the oil and gas producer’s stock worth $36,000 after purchasing an additional 1,036 shares during the period. Finally, Cornerstone Advisors Inc. increased its stake in Canadian Natural Resources by 245.3% in the 1st quarter. Cornerstone Advisors Inc. now owns 1,806 shares of the oil and gas producer’s stock worth $50,000 after purchasing an additional 1,283 shares during the period. Institutional investors own 65.83% of the company’s stock.
A number of brokerages have commented on CNQ. Zacks Investment Research cut Canadian Natural Resources from a “buy” rating to a “hold” rating and set a $28.00 price target on the stock. in a research note on Monday, July 22nd. Canaccord Genuity reissued a “buy” rating and set a $53.00 target price on shares of Canadian Natural Resources in a research note on Tuesday, July 9th. Royal Bank of Canada reissued an “average” rating and set a $45.00 target price on shares of Canadian Natural Resources in a research note on Friday, May 10th. CIBC reissued a “buy” rating and set a $48.00 target price on shares of Canadian Natural Resources in a research note on Sunday, August 4th. Finally, Raymond James reissued a “buy” rating on shares of Canadian Natural Resources in a research note on Friday, May 10th. Six research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus price target of $41.88.
Canadian Natural Resources (NYSE:CNQ) (TSE:CNQ) last posted its earnings results on Thursday, August 1st. The oil and gas producer reported $0.87 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.62 by $0.25. Canadian Natural Resources had a return on equity of 8.62% and a net margin of 22.22%. The firm had revenue of $4.16 billion for the quarter, compared to analysts’ expectations of $4.36 billion. During the same period in the previous year, the firm earned $1.04 earnings per share. Sell-side analysts anticipate that Canadian Natural Resources Ltd will post 2.41 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Friday, September 13th will be paid a $0.284 dividend. This represents a $1.14 annualized dividend and a yield of 4.94%. This is a boost from Canadian Natural Resources’s previous quarterly dividend of $0.28. The ex-dividend date is Thursday, September 12th. Canadian Natural Resources’s dividend payout ratio is presently 51.63%.
About Canadian Natural Resources
Canadian Natural Resources Limited explores for, develops, produces, and markets crude oil, natural gas, and natural gas liquids (NGLs). The company offers synthetic crude oil (SCO), light and medium crude oil, bitumen (thermal oil), primary heavy crude oil, and Pelican Lake heavy crude oil. Its midstream assets include two crude oil pipeline systems; and a 50% working interest in an 84-megawatt cogeneration plant at Primrose.
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