Canadian Natural Resources Limited $CNQ Shares Purchased by Harvest Portfolios Group Inc.

Harvest Portfolios Group Inc. boosted its holdings in shares of Canadian Natural Resources Limited (NYSE:CNQ) (TSE:CNQ) by 30.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 506,601 shares of the oil and gas producer’s stock after acquiring an additional 118,249 shares during the quarter. Harvest Portfolios Group Inc.’s holdings in Canadian Natural Resources were worth $17,159,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Nisa Investment Advisors LLC increased its stake in Canadian Natural Resources by 100.0% during the third 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. GoalVest Advisory LLC acquired a new stake in Canadian Natural Resources during the fourth quarter worth $32,000. Quarry LP acquired a new stake in Canadian Natural Resources during the third quarter worth $32,000. LOM Asset Management Ltd acquired a new stake in Canadian Natural Resources during the fourth quarter worth $34,000. Finally, Boyd Watterson Asset Management LLC OH acquired a new stake in Canadian Natural Resources during the fourth quarter worth $51,000. Institutional investors and hedge funds own 74.03% of the company’s stock.

Canadian Natural Resources Trading Up 0.9%

Shares of NYSE CNQ opened at $49.40 on Wednesday. Canadian Natural Resources Limited has a twelve month low of $29.30 and a twelve month high of $51.34. The company has a current ratio of 0.98, a quick ratio of 0.68 and a debt-to-equity ratio of 0.37. The stock has a fifty day simple moving average of $47.10 and a 200-day simple moving average of $39.64. The stock has a market capitalization of $102.78 billion, a PE ratio of 14.75 and a beta of 0.47.

Canadian Natural Resources (NYSE:CNQ) (TSE:CNQ) last issued its quarterly earnings data on Thursday, May 7th. The oil and gas producer reported $0.85 earnings per share for the quarter, beating analysts’ consensus estimates of $0.74 by $0.11. Canadian Natural Resources had a return on equity of 17.49% and a net margin of 22.04%.The business had revenue of $7.72 billion during the quarter, compared to analysts’ expectations of $7.57 billion. During the same period in the previous year, the firm posted $1.16 earnings per share. On average, equities analysts forecast that Canadian Natural Resources Limited will post 4.09 earnings per share for the current year.

Canadian Natural Resources Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 7th. Stockholders of record on Tuesday, June 23rd will be paid a $0.625 dividend. The ex-dividend date of this dividend is Tuesday, June 23rd. This represents a $2.50 dividend on an annualized basis and a dividend yield of 5.1%. Canadian Natural Resources’s payout ratio is presently 54.63%.

Analysts Set New Price Targets

Several research firms have issued reports on CNQ. ATB Cormark Capital Markets cut Canadian Natural Resources from a “strong-buy” rating to a “moderate buy” rating in a research note on Thursday, March 5th. Weiss Ratings cut Canadian Natural Resources from a “buy (b)” rating to a “buy (b-)” rating in a research note on Monday, May 11th. The Goldman Sachs Group raised their target price on Canadian Natural Resources from $37.00 to $49.00 and gave the stock a “buy” rating in a research note on Thursday, March 12th. Royal Bank Of Canada raised their target price on Canadian Natural Resources from $61.00 to $65.00 and gave the stock an “outperform” rating in a research note on Friday, March 6th. Finally, Raymond James Financial raised Canadian Natural Resources from a “market perform” rating to an “outperform” rating in a research note on Thursday, May 7th. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat.com, Canadian Natural Resources presently has a consensus rating of “Moderate Buy” and a consensus price target of $57.00.

Canadian Natural Resources 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.