Canadian Natural Resources Limited $CNQ Shares Purchased by Scheer Rowlett & Associates Investment Management Ltd.

Scheer Rowlett & Associates Investment Management Ltd. grew its stake in shares of Canadian Natural Resources Limited (NYSE:CNQ) (TSE:CNQ) by 2.3% in the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 938,400 shares of the oil and gas producer’s stock after acquiring an additional 21,230 shares during the quarter. Canadian Natural Resources accounts for 1.9% of Scheer Rowlett & Associates Investment Management Ltd.’s portfolio, making the stock its 21st largest position. Scheer Rowlett & Associates Investment Management Ltd.’s holdings in Canadian Natural Resources were worth $29,513,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in CNQ. Goldman Sachs Group Inc. boosted its stake in shares of Canadian Natural Resources by 240.8% during the first quarter. Goldman Sachs Group Inc. now owns 22,776,594 shares of the oil and gas producer’s stock valued at $701,519,000 after acquiring an additional 16,094,168 shares during the last quarter. Bank of Nova Scotia raised its stake in Canadian Natural Resources by 86.6% in the 1st 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 during the last quarter. T. Rowe Price Investment Management Inc. lifted its holdings in Canadian Natural Resources by 29.1% in the 1st 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 boosted its stake in shares of Canadian Natural Resources by 13.0% during the 1st quarter. Canada Pension Plan Investment Board now owns 41,769,153 shares of the oil and gas producer’s stock worth $1,285,464,000 after purchasing an additional 4,805,451 shares during the last quarter. Finally, Nuveen LLC acquired a new stake in shares of Canadian Natural Resources during the 1st quarter worth about $68,342,000. 74.03% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on the stock. National Bankshares reissued a “sector perform” rating on shares of Canadian Natural Resources in a research report on Thursday, July 17th. Zacks Research raised shares of Canadian Natural Resources from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, August 26th. TD Securities reissued a “buy” rating on shares of Canadian Natural Resources in a research note on Tuesday, September 30th. Weiss Ratings restated a “hold (c)” rating on shares of Canadian Natural Resources in a report on Wednesday, October 8th. Finally, Wells Fargo & Company raised Canadian Natural Resources to a “hold” rating in a research report on Thursday, October 16th. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $62.00.

Canadian Natural Resources Stock Performance

Shares of CNQ stock opened at $31.61 on Friday. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.54 and a current ratio of 0.85. The firm has a market capitalization of $65.92 billion, a price-to-earnings ratio of 11.21 and a beta of 0.96. Canadian Natural Resources Limited has a one year low of $24.65 and a one year high of $34.97. The company has a 50 day moving average price of $31.61 and a 200 day moving average price of $31.26.

Canadian Natural Resources (NYSE:CNQ) (TSE:CNQ) last announced its quarterly earnings results on Thursday, November 6th. The oil and gas producer reported $0.62 earnings per share for the quarter, beating analysts’ consensus estimates of $0.54 by $0.08. The company had revenue of $6.79 billion for the quarter, compared to analyst estimates of $6.81 billion. Canadian Natural Resources had a net margin of 19.00% and a return on equity of 19.67%. During the same quarter last year, the business earned $0.97 EPS. Sell-side analysts anticipate that Canadian Natural Resources Limited will post 2.45 EPS for the current year.

Canadian Natural Resources Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, January 6th. Shareholders of record on Friday, December 12th will be given a dividend of $0.5875 per share. This represents a $2.35 dividend on an annualized basis and a yield of 7.4%. This is a boost from Canadian Natural Resources’s previous quarterly dividend of $0.43. The ex-dividend date of this dividend is Friday, December 12th. Canadian Natural Resources’s dividend payout ratio (DPR) is presently 75.66%.

About Canadian Natural Resources

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).