Canadian Natural Resources Limited $CNQ Shares Purchased by WCM Investment Management LLC

WCM Investment Management LLC increased its holdings in Canadian Natural Resources Limited (NYSE:CNQ) (TSE:CNQ) by 22.4% in the 1st quarter, according to its most recent disclosure with the SEC. The firm owned 5,122,209 shares of the oil and gas producer’s stock after acquiring an additional 938,210 shares during the period. WCM Investment Management LLC’s holdings in Canadian Natural Resources were worth $252,883,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Investment Management Associates Inc. ADV raised its holdings in Canadian Natural Resources by 0.7% in the 1st quarter. Investment Management Associates Inc. ADV now owns 360,870 shares of the oil and gas producer’s stock valued at $17,585,000 after buying an additional 2,571 shares during the period. Parallel Advisors LLC lifted its holdings in Canadian Natural Resources by 21.8% during the 1st quarter. Parallel Advisors LLC now owns 8,555 shares of the oil and gas producer’s stock worth $417,000 after buying an additional 1,533 shares in the last quarter. Swiss National Bank boosted its holdings in Canadian Natural Resources by 26.7% in the first quarter. Swiss National Bank now owns 7,011,862 shares of the oil and gas producer’s stock valued at $341,546,000 after purchasing an additional 1,475,500 shares during the period. Mediolanum International Funds Ltd boosted its stake in shares of Canadian Natural Resources by 2.2% in the 1st quarter. Mediolanum International Funds Ltd now owns 105,714 shares of the oil and gas producer’s stock valued at $5,227,000 after buying an additional 2,305 shares during the period. Finally, McAlvany Wealth Management LLC acquired a new position in Canadian Natural Resources during the 1st quarter worth approximately $1,502,000. Institutional investors and hedge funds own 74.03% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the company. Raymond James Financial raised Canadian Natural Resources from a “market perform” rating to an “outperform” rating in a report on Thursday, May 7th. Scotiabank raised Canadian Natural Resources to a “hold” rating in a report on Friday, June 26th. Weiss Ratings cut Canadian Natural Resources from a “buy (b)” rating to a “buy (b-)” rating in a research report on Monday, May 11th. Desjardins upgraded Canadian Natural Resources to a “hold” rating in a report on Thursday. Finally, Zacks Research lowered Canadian Natural Resources from a “strong-buy” rating to a “hold” rating in a research report on Monday, June 8th. Six investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $57.00.

Canadian Natural Resources Trading Down 0.1%

NYSE CNQ opened at $43.86 on Monday. The company has a debt-to-equity ratio of 0.37, a current ratio of 0.98 and a quick ratio of 0.68. The firm’s fifty day moving average price is $44.09 and its 200 day moving average price is $42.86. The company has a market capitalization of $91.03 billion, a price-to-earnings ratio of 13.09 and a beta of 0.47. Canadian Natural Resources Limited has a 12 month low of $29.30 and a 12 month high of $51.34.

Canadian Natural Resources (NYSE:CNQ) (TSE:CNQ) last announced its quarterly earnings results 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 net margin of 22.04% and a return on equity of 17.49%. The firm 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 company earned $1.16 earnings per share. On average, sell-side analysts expect that Canadian Natural Resources Limited will post 4.2 earnings per share for the current fiscal year.

Canadian Natural Resources Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, July 7th. Stockholders of record on Tuesday, June 23rd were given a dividend of $0.625 per share. The ex-dividend date was Tuesday, June 23rd. This represents a $2.50 dividend on an annualized basis and a dividend yield of 5.7%. Canadian Natural Resources’s payout ratio is 54.03%.

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.