Canadian Natural Resources Limited $CNQ Shares Purchased by PNC Financial Services Group Inc.

PNC Financial Services Group Inc. raised its stake in shares of Canadian Natural Resources Limited (NYSE:CNQ) (TSE:CNQ) by 9.9% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 89,973 shares of the oil and gas producer’s stock after buying an additional 8,078 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Canadian Natural Resources were worth $2,825,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Brandywine Global Investment Management LLC lifted its position in shares of Canadian Natural Resources by 27.5% in the first quarter. Brandywine Global Investment Management LLC now owns 2,183,598 shares of the oil and gas producer’s stock valued at $67,201,000 after acquiring an additional 470,391 shares in the last quarter. Sagespring Wealth Partners LLC acquired a new position in Canadian Natural Resources in the 2nd quarter valued at about $361,000. Sei Investments Co. lifted its holdings in Canadian Natural Resources by 41.9% in the 1st quarter. Sei Investments Co. now owns 49,307 shares of the oil and gas producer’s stock valued at $1,519,000 after purchasing an additional 14,561 shares in the last quarter. Journey Advisory Group LLC acquired a new stake in shares of Canadian Natural Resources during the 2nd quarter worth about $2,458,000. Finally, TD Asset Management Inc boosted its stake in shares of Canadian Natural Resources by 0.8% during the 2nd quarter. TD Asset Management Inc now owns 41,581,125 shares of the oil and gas producer’s stock worth $1,304,267,000 after purchasing an additional 316,933 shares during the last quarter. Hedge funds and other institutional investors own 74.03% of the company’s stock.

Canadian Natural Resources Stock Up 2.1%

Shares of NYSE CNQ opened at $34.03 on Wednesday. The stock has a market capitalization of $70.90 billion, a PE ratio of 12.07 and a beta of 0.96. The company has a quick ratio of 0.54, a current ratio of 0.85 and a debt-to-equity ratio of 0.38. The firm has a fifty day moving average of $31.86 and a 200-day moving average of $31.46. Canadian Natural Resources Limited has a 52-week low of $24.65 and a 52-week high of $34.97.

Canadian Natural Resources (NYSE:CNQ) (TSE:CNQ) last issued its earnings results on Thursday, November 6th. The oil and gas producer reported $0.62 earnings per share for the quarter, beating analysts’ consensus estimates of $0.54 by $0.08. The firm had revenue of $6.79 billion for the quarter, compared to analysts’ expectations of $6.81 billion. Canadian Natural Resources had a return on equity of 19.67% and a net margin of 19.00%.During the same quarter last year, the firm earned $0.97 earnings per share. On average, analysts anticipate that Canadian Natural Resources Limited will post 2.45 EPS for the current year.

Canadian Natural Resources Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, January 6th. Stockholders of record on Friday, December 12th will be issued a dividend of $0.5875 per share. This represents a $2.35 dividend on an annualized basis and a dividend yield of 6.9%. The ex-dividend date is Friday, December 12th. This is an increase from Canadian Natural Resources’s previous quarterly dividend of $0.43. Canadian Natural Resources’s dividend payout ratio (DPR) is presently 73.89%.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on CNQ shares. TD Securities reissued a “buy” rating on shares of Canadian Natural Resources in a research note on Tuesday, September 30th. Scotiabank reiterated an “outperform” rating on shares of Canadian Natural Resources in a report on Thursday, October 9th. Royal Bank Of Canada restated an “outperform” rating and set a $62.00 price objective on shares of Canadian Natural Resources in a report on Wednesday, September 24th. Wells Fargo & Company raised Canadian Natural Resources to a “hold” rating in a research report on Thursday, October 16th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Canadian Natural Resources in a research report on Wednesday, October 8th. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $62.00.

Canadian Natural Resources Company Profile

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).