Dupree Financial Group LLC Purchases 167,395 Shares of Canadian Natural Resources Limited (NYSE:CNQ)

Dupree Financial Group LLC boosted its holdings in shares of Canadian Natural Resources Limited (NYSE:CNQ) (TSE:CNQ) by 189.1% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 255,911 shares of the oil and gas producer’s stock after acquiring an additional 167,395 shares during the quarter. Canadian Natural Resources makes up approximately 3.2% of Dupree Financial Group LLC’s portfolio, making the stock its 10th largest holding. Dupree Financial Group LLC’s holdings in Canadian Natural Resources were worth $7,882,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the business. FMR LLC lifted its stake in shares of Canadian Natural Resources by 8.7% in the 4th quarter. FMR LLC now owns 92,550,104 shares of the oil and gas producer’s stock valued at $2,857,337,000 after purchasing an additional 7,372,718 shares during the last quarter. Vanguard Group Inc. boosted its position in Canadian Natural Resources by 0.5% during the fourth quarter. Vanguard Group Inc. now owns 90,002,235 shares of the oil and gas producer’s stock worth $2,778,729,000 after purchasing an additional 456,814 shares during the period. Canada Pension Plan Investment Board grew its holdings in Canadian Natural Resources by 5.3% during the fourth quarter. Canada Pension Plan Investment Board now owns 36,963,702 shares of the oil and gas producer’s stock valued at $1,139,753,000 after purchasing an additional 1,844,700 shares during the last quarter. T. Rowe Price Investment Management Inc. lifted its stake in shares of Canadian Natural Resources by 7.3% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 34,052,775 shares of the oil and gas producer’s stock worth $1,051,210,000 after buying an additional 2,312,437 shares during the last quarter. Finally, Mackenzie Financial Corp boosted its holdings in shares of Canadian Natural Resources by 4.9% during the 4th quarter. Mackenzie Financial Corp now owns 31,580,717 shares of the oil and gas producer’s stock worth $973,976,000 after buying an additional 1,464,807 shares during the period. 74.03% of the stock is currently owned by institutional investors and hedge funds.

Canadian Natural Resources Stock Down 0.5%

CNQ stock opened at $32.24 on Monday. Canadian Natural Resources Limited has a twelve month low of $24.65 and a twelve month high of $37.91. The company has a market cap of $67.44 billion, a PE ratio of 12.64 and a beta of 1.03. The business’s 50-day simple moving average is $31.23 and its 200 day simple moving average is $30.34. The company has a quick ratio of 0.53, a current ratio of 0.84 and a debt-to-equity ratio of 0.40.

Canadian Natural Resources (NYSE:CNQ) (TSE:CNQ) last issued its earnings results on Thursday, May 8th. The oil and gas producer reported $0.81 EPS for the quarter, topping the consensus estimate of $0.73 by $0.08. The firm had revenue of $6.96 billion during the quarter, compared to analysts’ expectations of $10.14 billion. Canadian Natural Resources had a return on equity of 20.90% and a net margin of 16.92%. During the same period last year, the business earned $1.37 earnings per share. On average, research analysts anticipate 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 disclosed a quarterly dividend, which was paid on Thursday, July 3rd. Shareholders of record on Friday, June 13th were issued a dividend of $0.4227 per share. This represents a $1.69 dividend on an annualized basis and a yield of 5.24%. This is an increase from Canadian Natural Resources’s previous quarterly dividend of $0.41. The ex-dividend date of this dividend was Friday, June 13th. Canadian Natural Resources’s payout ratio is presently 67.06%.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on CNQ shares. Raymond James Financial raised Canadian Natural Resources from a “market perform” rating to an “outperform” rating in a research report on Wednesday, April 9th. Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $63.00 target price on shares of Canadian Natural Resources in a report on Thursday, March 27th. Finally, Scotiabank upgraded Canadian Natural Resources from a “sector perform” rating to a “sector outperform” rating in a report on Wednesday, March 19th. Three research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat, Canadian Natural Resources currently has a consensus rating of “Moderate Buy” and a consensus price target of $63.00.

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).