Miller Howard Investments Inc. NY Buys 56,091 Shares of Canadian Natural Resources Limited $CNQ

Miller Howard Investments Inc. NY increased its stake in shares of Canadian Natural Resources Limited (NYSE:CNQ) (TSE:CNQ) by 4.1% during the first quarter, HoldingsChannel.com reports. The fund owned 1,440,125 shares of the oil and gas producer’s stock after purchasing an additional 56,091 shares during the period. Canadian Natural Resources makes up 1.9% of Miller Howard Investments Inc. NY’s holdings, making the stock its 11th largest position. Miller Howard Investments Inc. NY’s holdings in Canadian Natural Resources were worth $70,177,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in CNQ. CENTRAL TRUST Co boosted its position in Canadian Natural Resources by 9,400.0% during the first quarter. CENTRAL TRUST Co now owns 2,185 shares of the oil and gas producer’s stock worth $106,000 after purchasing an additional 2,162 shares during the period. AdvisorNet Financial Inc raised its position in shares of Canadian Natural Resources by 9.1% in the first quarter. AdvisorNet Financial Inc now owns 14,007 shares of the oil and gas producer’s stock valued at $683,000 after purchasing an additional 1,173 shares during the period. Evolve Private Wealth LLC acquired a new stake in shares of Canadian Natural Resources in the first quarter worth $238,000. Diversified Trust Co acquired a new stake in shares of Canadian Natural Resources in the first quarter worth $225,000. Finally, Purpose Unlimited Inc. bought a new stake in shares of Canadian Natural Resources during the 4th quarter worth $73,628,000. 74.03% of the stock is owned by institutional investors.

Canadian Natural Resources Stock Down 1.9%

CNQ opened at $41.00 on Wednesday. Canadian Natural Resources Limited has a 1-year low of $29.30 and a 1-year 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 market capitalization of $85.10 billion, a price-to-earnings ratio of 12.24 and a beta of 0.45. The business has a 50 day moving average of $45.73 and a 200-day moving average of $41.84.

Canadian Natural Resources (NYSE:CNQ) (TSE:CNQ) last announced its quarterly earnings data on Thursday, May 7th. The oil and gas producer reported $0.85 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.74 by $0.11. The business had revenue of $7.72 billion for the quarter, compared to the consensus estimate of $7.57 billion. Canadian Natural Resources had a net margin of 22.04% and a return on equity of 17.49%. During the same quarter last year, the company posted $1.16 earnings per share. As a group, sell-side analysts anticipate that Canadian Natural Resources Limited will post 4.2 earnings per share for the current year.

Canadian Natural Resources Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 7th. Shareholders of record on Tuesday, June 23rd will be given a $0.625 dividend. This represents a $2.50 annualized dividend and a yield of 6.1%. The ex-dividend date is Tuesday, June 23rd. Canadian Natural Resources’s dividend payout ratio (DPR) is currently 54.03%.

Analyst Ratings Changes

CNQ has been the topic of a number of research analyst reports. Royal Bank Of Canada raised their target price on shares of Canadian Natural Resources from $61.00 to $65.00 and gave the company an “outperform” rating in a research note on Friday, March 6th. Scotiabank reissued an “outperform” rating on shares of Canadian Natural Resources in a research report on Wednesday, May 20th. The Goldman Sachs Group upped their price target on shares of Canadian Natural Resources from $37.00 to $49.00 and gave the company a “buy” rating in a report on Thursday, March 12th. Raymond James Financial raised Canadian Natural Resources from a “market perform” rating to an “outperform” rating in a research report on Thursday, May 7th. Finally, ATB Cormark Capital Markets lowered Canadian Natural Resources from a “strong-buy” rating to a “moderate buy” rating in a research note on Thursday, March 5th. Seven equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat.com, Canadian Natural Resources presently has a consensus rating of “Moderate Buy” and a consensus price target of $57.00.

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.