Robotti Robert Has $10.33 Million Stake in Canadian Natural Resources Limited (NYSE:CNQ)

Robotti Robert trimmed its stake in shares of Canadian Natural Resources Limited (NYSE:CNQ) (TSE:CNQ) by 0.6% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 335,532 shares of the oil and gas producer’s stock after selling 1,990 shares during the period. Canadian Natural Resources makes up about 2.1% of Robotti Robert’s investment portfolio, making the stock its 11th biggest position. Robotti Robert’s holdings in Canadian Natural Resources were worth $10,334,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently modified their holdings of the stock. Ted Buchan & Co lifted its position in shares of Canadian Natural Resources by 64.0% during the first quarter. Ted Buchan & Co now owns 32,889 shares of the oil and gas producer’s stock worth $1,013,000 after purchasing an additional 12,833 shares in the last quarter. Gulf International Bank UK Ltd lifted its position in shares of Canadian Natural Resources by 2,740.0% during the first quarter. Gulf International Bank UK Ltd now owns 120,926 shares of the oil and gas producer’s stock worth $3,725,000 after purchasing an additional 116,668 shares in the last quarter. Russell Investments Group Ltd. lifted its position in shares of Canadian Natural Resources by 14.5% during the first quarter. Russell Investments Group Ltd. now owns 1,906,595 shares of the oil and gas producer’s stock worth $58,698,000 after purchasing an additional 241,951 shares in the last quarter. Sustainable Insight Capital Management LLC acquired a new position in shares of Canadian Natural Resources during the first quarter worth approximately $717,000. Finally, Independent Advisor Alliance lifted its position in shares of Canadian Natural Resources by 23.5% during the first quarter. Independent Advisor Alliance now owns 10,261 shares of the oil and gas producer’s stock worth $316,000 after purchasing an additional 1,955 shares in the last quarter. 74.03% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on CNQ. National Bankshares reiterated a “sector perform” rating on shares of Canadian Natural Resources in a research report on Thursday, July 17th. Raymond James Financial reiterated an “outperform” rating on shares of Canadian Natural Resources in a research report on Friday, August 8th. Royal Bank Of Canada cut their price objective on shares of Canadian Natural Resources from $64.00 to $62.00 and set an “outperform” rating on the stock in a report on Friday, August 8th. Finally, Scotiabank restated an “outperform” rating on shares of Canadian Natural Resources in a report on Friday, July 11th. Three equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, Canadian Natural Resources currently has a consensus rating of “Moderate Buy” and an average target price of $62.00.

Canadian Natural Resources Trading Up 0.1%

Shares of NYSE CNQ opened at $29.93 on Thursday. The company’s 50 day simple moving average is $31.73 and its 200 day simple moving average is $30.35. Canadian Natural Resources Limited has a fifty-two week low of $24.65 and a fifty-two week high of $37.91. The firm has a market capitalization of $62.53 billion, a P/E ratio of 10.61 and a beta of 1.05. The company has a debt-to-equity ratio of 0.38, a current ratio of 0.85 and a quick ratio of 0.54.

Canadian Natural Resources (NYSE:CNQ) (TSE:CNQ) last announced its quarterly earnings data on Thursday, August 7th. The oil and gas producer reported $0.51 earnings per share for the quarter, beating the consensus estimate of $0.44 by $0.07. Canadian Natural Resources had a net margin of 19.00% and a return on equity of 19.67%. The business had revenue of $6.39 billion for the quarter, compared to analyst estimates of $8.97 billion. During the same period in the prior year, the business posted $0.88 earnings per share. On average, analysts predict that Canadian Natural Resources Limited will post 2.45 EPS for the current year.

Canadian Natural Resources Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, October 3rd. Stockholders of record on Friday, September 19th will be issued a $0.4269 dividend. This is a positive change from Canadian Natural Resources’s previous quarterly dividend of $0.42. The ex-dividend date of this dividend is Friday, September 19th. This represents a $1.71 annualized dividend and a dividend yield of 5.7%. Canadian Natural Resources’s dividend payout ratio (DPR) is presently 60.64%.

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).