Bank of New York Mellon Corp Has $145.30 Million Stock Position in Canadian Natural Resources Limited (NYSE:CNQ)

Bank of New York Mellon Corp raised its holdings in Canadian Natural Resources Limited (NYSE:CNQ) (TSE:CNQ) by 6.3% in the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 4,717,467 shares of the oil and gas producer’s stock after acquiring an additional 279,696 shares during the quarter. Bank of New York Mellon Corp owned approximately 0.22% of Canadian Natural Resources worth $145,298,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Assetmark Inc. boosted its stake in shares of Canadian Natural Resources by 57.3% in the 4th quarter. Assetmark Inc. now owns 1,205 shares of the oil and gas producer’s stock valued at $37,000 after purchasing an additional 439 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. boosted its stake in shares of Canadian Natural Resources by 10.2% in the 1st quarter. Thurston Springer Miller Herd & Titak Inc. now owns 5,165 shares of the oil and gas producer’s stock valued at $159,000 after purchasing an additional 480 shares during the last quarter. Orion Portfolio Solutions LLC boosted its stake in shares of Canadian Natural Resources by 0.6% in the 4th quarter. Orion Portfolio Solutions LLC now owns 81,954 shares of the oil and gas producer’s stock valued at $2,530,000 after purchasing an additional 497 shares during the last quarter. AdvisorNet Financial Inc boosted its stake in shares of Canadian Natural Resources by 8.0% in the 1st quarter. AdvisorNet Financial Inc now owns 7,065 shares of the oil and gas producer’s stock valued at $218,000 after purchasing an additional 525 shares during the last quarter. Finally, MML Investors Services LLC boosted its stake in shares of Canadian Natural Resources by 1.0% in the 4th quarter. MML Investors Services LLC now owns 55,045 shares of the oil and gas producer’s stock valued at $1,699,000 after purchasing an additional 528 shares during the last quarter. 74.03% of the stock is currently owned by institutional investors and hedge funds.

Canadian Natural Resources Stock Up 1.1%

Canadian Natural Resources stock opened at $32.11 on Wednesday. Canadian Natural Resources Limited has a 1-year low of $24.65 and a 1-year high of $37.91. The firm has a market capitalization of $67.17 billion, a price-to-earnings ratio of 12.59 and a beta of 1.03. The firm’s fifty day moving average price is $31.33 and its two-hundred day moving average price is $30.37. The company has a current ratio of 0.84, a quick ratio of 0.53 and a debt-to-equity ratio of 0.40.

Canadian Natural Resources (NYSE:CNQ) (TSE:CNQ) last released its quarterly earnings results on Thursday, May 8th. The oil and gas producer reported $0.81 earnings per share for the quarter, beating analysts’ consensus estimates of $0.73 by $0.08. Canadian Natural Resources had a net margin of 16.92% and a return on equity of 20.90%. The company had revenue of $6.96 billion for the quarter, compared to analyst estimates of $10.14 billion. During the same period last year, the firm earned $1.37 earnings per share. On average, equities research analysts predict that Canadian Natural Resources Limited will post 2.45 earnings per share for the current fiscal year.

Canadian Natural Resources Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, July 3rd. Investors of record on Friday, June 13th were given a dividend of $0.4227 per share. This is a positive change from Canadian Natural Resources’s previous quarterly dividend of $0.41. This represents a $1.69 dividend on an annualized basis and a dividend yield of 5.27%. The ex-dividend date was Friday, June 13th. Canadian Natural Resources’s dividend payout ratio (DPR) is presently 67.06%.

Analyst Ratings Changes

CNQ has been the topic of several research analyst reports. Raymond James Financial raised shares of Canadian Natural Resources from a “market perform” rating to an “outperform” rating in a research note on Wednesday, April 9th. Scotiabank raised shares of Canadian Natural Resources from a “sector perform” rating to a “sector outperform” rating in a research note on Wednesday, March 19th. Finally, Royal Bank Of Canada reissued an “outperform” rating and set a $63.00 target price on shares of Canadian Natural Resources in a research note on Thursday, March 27th. Three analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Canadian Natural Resources presently 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).