First Trust Advisors LP Increases Stock Position in Canadian Natural Resources Limited (NYSE:CNQ)

First Trust Advisors LP grew its holdings in Canadian Natural Resources Limited (NYSE:CNQ – Get Rating) (TSE:CNQ) by 14.3% in the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 225,268 shares of the oil and gas producer’s stock after buying an additional 28,148 shares during the period. First Trust Advisors LP’s holdings in Canadian Natural Resources were worth $12,507,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in CNQ. Ronald Blue Trust Inc. raised its holdings in shares of Canadian Natural Resources by 198.4% in the fourth quarter. Ronald Blue Trust Inc. now owns 558 shares of the oil and gas producer’s stock valued at $26,000 after buying an additional 371 shares during the last quarter. Guardian Wealth Advisors LLC purchased a new position in Canadian Natural Resources during the third quarter worth about $31,000. Captrust Financial Advisors raised its holdings in Canadian Natural Resources by 57.6% during the second quarter. Captrust Financial Advisors now owns 594 shares of the oil and gas producer’s stock worth $32,000 after purchasing an additional 217 shares in the last quarter. Glassman Wealth Services raised its holdings in Canadian Natural Resources by 25.9% during the fourth quarter. Glassman Wealth Services now owns 847 shares of the oil and gas producer’s stock worth $47,000 after purchasing an additional 174 shares in the last quarter. Finally, Allworth Financial LP raised its holdings in Canadian Natural Resources by 677.2% during the fourth quarter. Allworth Financial LP now owns 987 shares of the oil and gas producer’s stock worth $55,000 after purchasing an additional 860 shares in the last quarter. 70.92% of the stock is owned by hedge funds and other institutional investors.

Canadian Natural Resources Stock Up 0.9 %

CNQ stock opened at $58.09 on Wednesday. The company’s 50 day simple moving average is $56.88 and its 200-day simple moving average is $57.38. The firm has a market capitalization of $63.69 billion, a PE ratio of 8.99, a P/E/G ratio of 0.83 and a beta of 1.57. Canadian Natural Resources Limited has a 12 month low of $44.45 and a 12 month high of $69.46. The company has a debt-to-equity ratio of 0.29, a current ratio of 0.83 and a quick ratio of 0.57.

Canadian Natural Resources (NYSE:CNQ – Get Rating) (TSE:CNQ) last announced its earnings results on Thursday, March 2nd. The oil and gas producer reported $1.44 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.61 by ($0.17). Canadian Natural Resources had a return on equity of 29.39% and a net margin of 20.63%. The firm had revenue of $7.14 billion for the quarter, compared to analyst estimates of $7.04 billion. Equities analysts expect that Canadian Natural Resources Limited will post 5.59 earnings per share for the current fiscal year.

Canadian Natural Resources Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 5th. Investors of record on Friday, June 16th will be given a dividend of $0.664 per share. The ex-dividend date of this dividend is Thursday, June 15th. This represents a $2.66 dividend on an annualized basis and a yield of 4.57%. Canadian Natural Resources’s dividend payout ratio (DPR) is currently 40.87%.

Analyst Ratings Changes

Separately, StockNews.com assumed coverage on shares of Canadian Natural Resources in a report on Thursday, May 18th. They set a “hold” rating for the company. Four research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $94.14.

Canadian Natural Resources Company Profile

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Canadian Natural Resources Ltd. is an oil and natural gas production company, which engages in the exploration, development, marketing, and production of crude oil and natural gas. It operates through the following segments: Oil Sands Mining & Upgrading, Midstream & Refining, and Exploration & Production.