Carnegie Investment Counsel Has $2.25 Million Stock Holdings in Canadian Natural Resources Limited $CNQ

Carnegie Investment Counsel raised its position in Canadian Natural Resources Limited (NYSE:CNQ) (TSE:CNQ) by 0.7% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 71,589 shares of the oil and gas producer’s stock after buying an additional 532 shares during the quarter. Carnegie Investment Counsel’s holdings in Canadian Natural Resources were worth $2,248,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Goldman Sachs Group Inc. increased its position in shares of Canadian Natural Resources by 240.8% in the first quarter. Goldman Sachs Group Inc. now owns 22,776,594 shares of the oil and gas producer’s stock worth $701,519,000 after purchasing an additional 16,094,168 shares during the period. Bank of Nova Scotia raised its stake in Canadian Natural Resources by 86.6% in the first quarter. Bank of Nova Scotia now owns 24,262,707 shares of the oil and gas producer’s stock valued at $746,675,000 after purchasing an additional 11,259,267 shares in the last quarter. T. Rowe Price Investment Management Inc. raised its stake in Canadian Natural Resources by 29.1% in the first quarter. T. Rowe Price Investment Management Inc. now owns 43,968,120 shares of the oil and gas producer’s stock valued at $1,354,219,000 after purchasing an additional 9,915,345 shares in the last quarter. Canada Pension Plan Investment Board raised its stake in Canadian Natural Resources by 13.0% in the first quarter. Canada Pension Plan Investment Board now owns 41,769,153 shares of the oil and gas producer’s stock valued at $1,285,464,000 after purchasing an additional 4,805,451 shares in the last quarter. Finally, Nuveen LLC acquired a new position in Canadian Natural Resources in the first quarter valued at about $68,342,000. 74.03% of the stock is owned by institutional investors and hedge funds.

Canadian Natural Resources Stock Performance

NYSE:CNQ opened at $31.28 on Friday. The stock’s 50-day simple moving average is $31.39 and its 200 day simple moving average is $30.97. The firm has a market capitalization of $65.29 billion, a PE ratio of 11.09 and a beta of 0.97. The company has a quick ratio of 0.54, a current ratio of 0.85 and a debt-to-equity ratio of 0.38. Canadian Natural Resources Limited has a twelve month low of $24.65 and a twelve month high of $35.63.

Canadian Natural Resources (NYSE:CNQ) (TSE:CNQ) last released its quarterly earnings data on Thursday, August 7th. The oil and gas producer reported $0.51 earnings per share for the quarter, beating the consensus estimate of $0.44 by $0.07. The business had revenue of $6.39 billion for the quarter, compared to analyst estimates of $8.97 billion. Canadian Natural Resources had a return on equity of 19.67% and a net margin of 19.00%.During the same period last year, the firm posted $0.88 earnings per share. On average, analysts anticipate that Canadian Natural Resources Limited will post 2.45 EPS for the current fiscal year.

Canadian Natural Resources Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, October 3rd. Shareholders of record on Friday, September 19th were given a $0.4269 dividend. This is a boost from Canadian Natural Resources’s previous quarterly dividend of $0.42. This represents a $1.71 annualized dividend and a yield of 5.5%. The ex-dividend date was Friday, September 19th. Canadian Natural Resources’s dividend payout ratio is 60.64%.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on CNQ. Zacks Research raised Canadian Natural Resources from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, August 26th. Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $62.00 price target on shares of Canadian Natural Resources in a research note on Wednesday, September 24th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Canadian Natural Resources in a research note on Friday. Raymond James Financial reaffirmed an “outperform” rating on shares of Canadian Natural Resources in a research note on Friday, August 8th. Finally, Scotiabank reaffirmed an “outperform” rating on shares of Canadian Natural Resources in a research note on Thursday, October 9th. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and four have issued a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average 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).