Canadian Natural Resources Limited $CNQ Position Boosted by Hillsdale Investment Management Inc.

Hillsdale Investment Management Inc. raised its holdings in shares of Canadian Natural Resources Limited (NYSE:CNQ) (TSE:CNQ) by 11.8% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 488,289 shares of the oil and gas producer’s stock after acquiring an additional 51,555 shares during the quarter. Hillsdale Investment Management Inc.’s holdings in Canadian Natural Resources were worth $16,568,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Leonteq Securities AG purchased a new position in Canadian Natural Resources during the 4th quarter valued at about $31,000. GoalVest Advisory LLC purchased a new position in Canadian Natural Resources during the 4th quarter valued at about $32,000. Quarry LP purchased a new position in Canadian Natural Resources during the 3rd quarter valued at about $32,000. LOM Asset Management Ltd purchased a new position in Canadian Natural Resources during the 4th quarter valued at about $34,000. Finally, Boyd Watterson Asset Management LLC OH purchased a new position in Canadian Natural Resources during the 4th quarter valued at about $51,000. Hedge funds and other institutional investors own 74.03% of the company’s stock.

Canadian Natural Resources Stock Down 1.0%

CNQ opened at $45.37 on Friday. The business has a 50 day moving average price of $47.01 and a 200 day moving average price of $40.46. Canadian Natural Resources Limited has a twelve month low of $29.30 and a twelve month high of $51.34. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.68 and a current ratio of 0.98. The firm has a market cap of $94.39 billion, a P/E ratio of 13.54 and a beta of 0.47.

Canadian Natural Resources (NYSE:CNQ) (TSE:CNQ) last posted its earnings results on Thursday, May 7th. The oil and gas producer reported $0.85 earnings per share for the quarter, topping the consensus estimate 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 firm had revenue of $7.72 billion during the quarter, compared to analyst estimates of $7.57 billion. During the same period in the previous year, the company earned $1.16 EPS. Research analysts forecast that Canadian Natural Resources Limited will post 4.2 EPS for the current year.

Canadian Natural Resources Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 7th. Investors of record on Tuesday, June 23rd will be issued a $0.625 dividend. This represents a $2.50 annualized dividend and a yield of 5.5%. The ex-dividend date is Tuesday, June 23rd. Canadian Natural Resources’s payout ratio is 54.63%.

Analyst Upgrades and Downgrades

Several research firms have weighed in on CNQ. Scotiabank reaffirmed an “outperform” rating on shares of Canadian Natural Resources in a research note on Wednesday, May 20th. Raymond James Financial raised Canadian Natural Resources from a “market perform” rating to an “outperform” rating in a research note on Thursday, May 7th. 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 lifted their price target on Canadian Natural Resources from $37.00 to $49.00 and gave the company a “buy” rating in a report on Thursday, March 12th. Finally, Zacks Research upgraded Canadian Natural Resources from a “hold” rating to a “strong-buy” rating in a report on Tuesday, May 5th. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average 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.