Canadian Natural Resources Limited (NYSE:CNQ) Shares Purchased by M&T Bank Corp

M&T Bank Corp lifted its holdings in Canadian Natural Resources Limited (NYSE:CNQ) (TSE:CNQ) by 1.5% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 14,597 shares of the oil and gas producer’s stock after purchasing an additional 222 shares during the quarter. M&T Bank Corp’s holdings in Canadian Natural Resources were worth $808,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in CNQ. American Century Companies Inc. raised its stake in Canadian Natural Resources by 27.8% in the 4th quarter. American Century Companies Inc. now owns 215,756 shares of the oil and gas producer’s stock worth $11,981,000 after acquiring an additional 46,920 shares during the last quarter. Pacific Heights Asset Management LLC raised its stake in Canadian Natural Resources by 16.0% in the 1st quarter. Pacific Heights Asset Management LLC now owns 145,000 shares of the oil and gas producer’s stock worth $8,026,000 after acquiring an additional 20,000 shares during the last quarter. Sequoia Financial Advisors LLC raised its stake in Canadian Natural Resources by 20.5% in the 1st quarter. Sequoia Financial Advisors LLC now owns 8,326 shares of the oil and gas producer’s stock worth $461,000 after acquiring an additional 1,416 shares during the last quarter. Mitsubishi UFJ Trust & Banking Corp raised its stake in Canadian Natural Resources by 4.2% in the 4th quarter. Mitsubishi UFJ Trust & Banking Corp now owns 70,247 shares of the oil and gas producer’s stock worth $3,897,000 after acquiring an additional 2,800 shares during the last quarter. Finally, Yacktman Asset Management LP raised its stake in Canadian Natural Resources by 0.3% in the 1st quarter. Yacktman Asset Management LP now owns 15,213,829 shares of the oil and gas producer’s stock worth $842,085,000 after acquiring an additional 41,686 shares during the last quarter. Institutional investors and hedge funds own 73.88% of the company’s stock.

Canadian Natural Resources Stock Performance

NYSE CNQ opened at $64.92 on Friday. The stock has a market capitalization of $70.82 billion, a price-to-earnings ratio of 12.75, a PEG ratio of 11.78 and a beta of 1.58. Canadian Natural Resources Limited has a twelve month low of $44.45 and a twelve month high of $65.57. The company has a current ratio of 0.70, a quick ratio of 0.47 and a debt-to-equity ratio of 0.25. The stock has a 50-day moving average of $59.27 and a 200 day moving average of $57.47.

Canadian Natural Resources (NYSE:CNQ) (TSE:CNQ) last released its quarterly earnings results on Thursday, August 3rd. The oil and gas producer reported $0.85 earnings per share for the quarter, missing analysts’ consensus estimates of $0.88 by ($0.03). The business had revenue of $5.87 billion during the quarter, compared to analyst estimates of $5.44 billion. Canadian Natural Resources had a return on equity of 22.86% and a net margin of 18.14%. Sell-side analysts anticipate that Canadian Natural Resources Limited will post 4.95 EPS for the current fiscal year.

Canadian Natural Resources Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 5th. Shareholders of record on Friday, September 15th will be paid a dividend of $0.6744 per share. This is a positive change from Canadian Natural Resources’s previous quarterly dividend of $0.66. This represents a $2.70 annualized dividend and a yield of 4.16%. The ex-dividend date of this dividend is Thursday, September 14th. Canadian Natural Resources’s payout ratio is 53.24%.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the company. Jefferies Financial Group lifted their price objective on Canadian Natural Resources from $84.00 to $94.00 and gave the company a “hold” rating in a research note on Monday, August 28th. National Bank Financial lowered Canadian Natural Resources from an “outperform” rating to a “sector perform” rating in a research note on Friday, August 4th. UBS Group assumed coverage on Canadian Natural Resources in a research note on Wednesday, July 12th. They set a “buy” rating for the company. CIBC lifted their price objective on Canadian Natural Resources from $90.00 to $93.00 and gave the company an “outperformer” rating in a research note on Tuesday, August 29th. Finally, Wells Fargo & Company lifted their price objective on Canadian Natural Resources from $80.00 to $85.00 and gave the company an “equal weight” rating in a research note on Friday, August 4th. Four research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $89.50.

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).