Cetera Investment Advisers Boosts Stake in Canadian Natural Resources Limited $CNQ

Cetera Investment Advisers grew its holdings in shares of Canadian Natural Resources Limited (NYSE:CNQ) (TSE:CNQ) by 11.6% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 96,390 shares of the oil and gas producer’s stock after buying an additional 10,021 shares during the period. Cetera Investment Advisers’ holdings in Canadian Natural Resources were worth $3,027,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of CNQ. T. Rowe Price Investment Management Inc. boosted its stake in Canadian Natural Resources by 29.1% during the 1st quarter. T. Rowe Price Investment Management Inc. now owns 43,968,120 shares of the oil and gas producer’s stock valued at $1,354,219,000 after purchasing an additional 9,915,345 shares during the last quarter. Canada Pension Plan Investment Board grew its stake in shares of Canadian Natural Resources by 13.0% during the 1st quarter. Canada Pension Plan Investment Board now owns 41,769,153 shares of the oil and gas producer’s stock valued at $1,285,464,000 after acquiring an additional 4,805,451 shares during the period. TD Asset Management Inc raised its position in shares of Canadian Natural Resources by 0.8% during the 2nd quarter. TD Asset Management Inc now owns 41,581,125 shares of the oil and gas producer’s stock valued at $1,304,267,000 after purchasing an additional 316,933 shares during the period. 1832 Asset Management L.P. lifted its position in shares of Canadian Natural Resources by 1.9% in the first quarter. 1832 Asset Management L.P. now owns 31,822,379 shares of the oil and gas producer’s stock valued at $980,129,000 after acquiring an additional 603,101 shares in the last quarter. Finally, Bank of Nova Scotia grew its holdings in Canadian Natural Resources by 86.6% during the 1st quarter. Bank of Nova Scotia now owns 24,262,707 shares of the oil and gas producer’s stock valued at $746,675,000 after buying an additional 11,259,267 shares in the last quarter. 74.03% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on CNQ shares. Weiss Ratings reissued a “hold (c)” rating on shares of Canadian Natural Resources in a research note on Wednesday, October 8th. Wells Fargo & Company raised Canadian Natural Resources to a “hold” rating in a research report on Thursday, October 16th. TD Securities reissued a “buy” rating on shares of Canadian Natural Resources in a research note on Tuesday, September 30th. Raymond James Financial reiterated an “outperform” rating on shares of Canadian Natural Resources in a research note on Friday, August 8th. Finally, Scotiabank reaffirmed an “outperform” rating on shares of Canadian Natural Resources in a research report on Thursday, October 9th. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and five have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $62.00.

Canadian Natural Resources Stock Performance

NYSE CNQ opened at $33.34 on Friday. The stock has a market capitalization of $69.46 billion, a price-to-earnings ratio of 11.82 and a beta of 0.96. The stock has a 50-day moving average of $32.07 and a 200 day moving average of $31.63. The company has a current ratio of 0.85, a quick ratio of 0.54 and a debt-to-equity ratio of 0.38. Canadian Natural Resources Limited has a twelve month low of $24.65 and a twelve month high of $34.97.

Canadian Natural Resources (NYSE:CNQ) (TSE:CNQ) last posted its quarterly earnings data on Thursday, November 6th. The oil and gas producer reported $0.62 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.54 by $0.08. Canadian Natural Resources had a net margin of 19.00% and a return on equity of 19.67%. The business had revenue of $6.79 billion for the quarter, compared to the consensus estimate of $6.81 billion. During the same period last year, the firm posted $0.97 earnings per share. Sell-side analysts anticipate that Canadian Natural Resources Limited will post 2.45 EPS for the current fiscal year.

Canadian Natural Resources Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 6th. Shareholders of record on Friday, December 12th will be issued a $0.5875 dividend. This represents a $2.35 dividend on an annualized basis and a yield of 7.0%. The ex-dividend date is Friday, December 12th. This is a positive change from Canadian Natural Resources’s previous quarterly dividend of $0.43. Canadian Natural Resources’s payout ratio is currently 73.89%.

Canadian Natural Resources 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).