Miller Howard Investments Inc. NY Has $45.79 Million Stake in Canadian Natural Resources Limited $CNQ

Miller Howard Investments Inc. NY reduced its stake in Canadian Natural Resources Limited (NYSE:CNQ) (TSE:CNQ) by 1.3% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,432,822 shares of the oil and gas producer’s stock after selling 18,518 shares during the period. Miller Howard Investments Inc. NY owned about 0.07% of Canadian Natural Resources worth $45,793,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Ameritas Advisory Services LLC acquired a new stake in Canadian Natural Resources in the second quarter valued at approximately $27,000. Addison Advisors LLC boosted its holdings in shares of Canadian Natural Resources by 309.1% during the 2nd quarter. Addison Advisors LLC now owns 896 shares of the oil and gas producer’s stock valued at $28,000 after acquiring an additional 677 shares in the last quarter. Nisa Investment Advisors LLC grew its position in Canadian Natural Resources by 100.0% during the 3rd quarter. Nisa Investment Advisors LLC now owns 1,000 shares of the oil and gas producer’s stock worth $32,000 after acquiring an additional 500 shares during the last quarter. Geneos Wealth Management Inc. increased its holdings in Canadian Natural Resources by 47.3% in the 1st quarter. Geneos Wealth Management Inc. now owns 1,644 shares of the oil and gas producer’s stock worth $51,000 after purchasing an additional 528 shares in the last quarter. Finally, Adirondack Trust Co. increased its holdings in Canadian Natural Resources by 317.1% in the 2nd quarter. Adirondack Trust Co. now owns 1,710 shares of the oil and gas producer’s stock worth $54,000 after purchasing an additional 1,300 shares in the last quarter. 74.03% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

CNQ has been the topic of several research reports. The Goldman Sachs Group set a $35.00 price target on Canadian Natural Resources and gave the stock a “buy” rating in a report on Friday, January 2nd. Wells Fargo & Company upgraded shares of 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 report on Tuesday, September 30th. Desjardins downgraded shares of Canadian Natural Resources from a “buy” rating to a “hold” rating in a research note on Monday, November 24th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Canadian Natural Resources in a research note on Wednesday, October 8th. Five research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $48.50.

Canadian Natural Resources Stock Up 1.7%

Shares of NYSE CNQ opened at $32.08 on Friday. The company’s 50 day moving average price is $32.90 and its 200-day moving average price is $31.90. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.53 and a current ratio of 0.86. Canadian Natural Resources Limited has a 52-week low of $24.65 and a 52-week high of $35.12. The company has a market capitalization of $66.83 billion, a P/E ratio of 14.20 and a beta of 0.69.

Canadian Natural Resources (NYSE:CNQ) (TSE:CNQ) last released its earnings results 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. The business had revenue of $6.79 billion for the quarter, compared to analyst estimates of $6.81 billion. Canadian Natural Resources had a net margin of 14.90% and a return on equity of 18.93%. During the same quarter in the previous year, the business earned $0.97 earnings per share. Equities analysts forecast that Canadian Natural Resources Limited will post 2.45 earnings per share for the current year.

Canadian Natural Resources Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, January 6th. Investors of record on Friday, December 12th were given a dividend of $0.5875 per share. This represents a $2.35 annualized dividend and a dividend yield of 7.3%. The ex-dividend date was Friday, December 12th. This is a positive change from Canadian Natural Resources’s previous quarterly dividend of $0.43. Canadian Natural Resources’s dividend payout ratio is currently 74.34%.

Canadian Natural Resources Company Profile

Canadian Natural Resources Limited (NYSE: CNQ) is a Calgary-based independent oil and natural gas exploration and production company. Established in the early 1970s and publicly listed in Canada and the United States, the company is principally engaged in the exploration, development, production, and marketing of crude oil, natural gas and natural gas liquids. Its asset base spans conventional and unconventional reservoirs and includes oil sands mining and in-situ thermal projects, midstream processing and upgrading capacity, and related field operations.

The company’s operations are concentrated in Western Canada, where it develops heavy crude, bitumen from oil sands and conventional light crude and natural gas resources.