K.J. Harrison & Partners Inc Boosts Stake in Canadian Natural Resources Limited $CNQ

K.J. Harrison & Partners Inc grew its holdings in shares of Canadian Natural Resources Limited (NYSE:CNQ) (TSE:CNQ) by 16.5% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 130,931 shares of the oil and gas producer’s stock after acquiring an additional 18,516 shares during the period. Canadian Natural Resources comprises about 1.0% of K.J. Harrison & Partners Inc’s investment portfolio, making the stock its 26th biggest holding. K.J. Harrison & Partners Inc’s holdings in Canadian Natural Resources were worth $6,374,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Sunbelt Securities Inc. purchased a new position in Canadian Natural Resources in the fourth quarter valued at about $25,000. Manchester Capital Management LLC purchased a new stake in Canadian Natural Resources during the 4th quarter worth approximately $28,000. Leonteq Securities AG purchased a new stake in Canadian Natural Resources during the 4th quarter worth approximately $31,000. GoalVest Advisory LLC acquired a new position in shares of Canadian Natural Resources in the 4th quarter valued at approximately $32,000. Finally, LOM Asset Management Ltd acquired a new position in shares of Canadian Natural Resources in the 4th quarter valued at approximately $34,000. 74.03% of the stock is owned by hedge funds and other institutional investors.

Canadian Natural Resources Trading Down 0.0%

Canadian Natural Resources stock opened at $39.63 on Friday. The firm’s 50-day moving average is $44.85 and its 200-day moving average is $42.10. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.68 and a current ratio of 0.98. Canadian Natural Resources Limited has a 1 year low of $29.30 and a 1 year high of $51.34. The company has a market cap of $82.27 billion, a P/E ratio of 11.83 and a beta of 0.47.

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 for the quarter, beating analysts’ consensus estimates of $0.74 by $0.11. The business had revenue of $7.72 billion during 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 in the prior year, the firm earned $1.16 EPS. On average, equities analysts expect that Canadian Natural Resources Limited will post 4.2 earnings per share for the current year.

Canadian Natural Resources Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 7th. Shareholders of record on Tuesday, June 23rd will be paid a $0.625 dividend. This represents a $2.50 dividend on an annualized basis and a yield of 6.3%. The ex-dividend date is Tuesday, June 23rd. Canadian Natural Resources’s payout ratio is presently 54.03%.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on CNQ. Scotiabank upgraded Canadian Natural Resources to a “hold” rating in a research note on Friday, June 26th. Zacks Research lowered shares of Canadian Natural Resources from a “strong-buy” rating to a “hold” rating in a research note on Monday, June 8th. Weiss Ratings cut shares of Canadian Natural Resources from a “buy (b)” rating to a “buy (b-)” rating in a report on Monday, May 11th. Raymond James Financial upgraded shares of Canadian Natural Resources from a “market perform” rating to an “outperform” rating in a research note on Thursday, May 7th. Finally, The Goldman Sachs Group raised their price objective on shares of Canadian Natural Resources from $37.00 to $49.00 and gave the stock a “buy” rating in a report on Thursday, March 12th. Six research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Canadian Natural Resources presently has a consensus rating of “Moderate Buy” and an average target price of $57.00.

About Canadian Natural Resources

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.