Hillsdale Investment Management Inc. Boosts Stock Holdings in Canadian Natural Resources Limited $CNQ

Hillsdale Investment Management Inc. grew its holdings in Canadian Natural Resources Limited (NYSE:CNQ) (TSE:CNQ) by 58.8% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 775,589 shares of the oil and gas producer’s stock after purchasing an additional 287,300 shares during the period. Canadian Natural Resources makes up about 1.0% of Hillsdale Investment Management Inc.’s holdings, making the stock its 23rd biggest position. Hillsdale Investment Management Inc.’s holdings in Canadian Natural Resources were worth $37,825,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Bleakley Financial Group LLC grew its stake in Canadian Natural Resources by 69.0% in the 1st quarter. Bleakley Financial Group LLC now owns 132,059 shares of the oil and gas producer’s stock valued at $6,435,000 after buying an additional 53,898 shares in the last quarter. J. Safra Sarasin Holding AG purchased a new stake in shares of Canadian Natural Resources during the first quarter worth $228,000. Ferguson Wellman Capital Management Inc. purchased a new stake in shares of Canadian Natural Resources during the first quarter worth $23,716,000. Farrow Financial Inc. boosted its holdings in shares of Canadian Natural Resources by 0.5% in the first quarter. Farrow Financial Inc. now owns 69,190 shares of the oil and gas producer’s stock worth $3,372,000 after acquiring an additional 330 shares during the period. Finally, Candriam S.C.A. boosted its holdings in shares of Canadian Natural Resources by 7.9% in the first quarter. Candriam S.C.A. now owns 25,574 shares of the oil and gas producer’s stock worth $1,244,000 after acquiring an additional 1,882 shares during the period. 74.03% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on CNQ shares. Zacks Research cut Canadian Natural Resources from a “strong-buy” rating to a “hold” rating in a research report on Monday, June 8th. Raymond James Financial upgraded Canadian Natural Resources from a “market perform” rating to an “outperform” rating in a research note on Thursday, May 7th. Weiss Ratings lowered Canadian Natural Resources from a “buy (b)” rating to a “buy (b-)” rating in a report on Monday, May 11th. Finally, Scotiabank upgraded Canadian Natural Resources to a “hold” rating in a research report on Friday, June 26th. Six research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat.com, Canadian Natural Resources has a consensus rating of “Moderate Buy” and a consensus price target of $57.00.

Canadian Natural Resources Stock Up 3.0%

Shares of NYSE:CNQ opened at $43.08 on Tuesday. The firm has a fifty day moving average price of $44.31 and a two-hundred day moving average price of $42.57. The company has a debt-to-equity ratio of 0.37, a current ratio of 0.98 and a quick ratio of 0.68. Canadian Natural Resources Limited has a one year low of $29.30 and a one year high of $51.34. The company has a market cap of $89.42 billion, a price-to-earnings ratio of 12.86 and a beta of 0.47.

Canadian Natural Resources (NYSE:CNQ) (TSE:CNQ) last released its quarterly 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 net margin of 22.04% and a return on equity of 17.49%. The firm had revenue of $7.72 billion for the quarter, compared to analysts’ expectations of $7.57 billion. During the same quarter in the prior year, the firm posted $1.16 earnings per share. Analysts anticipate that Canadian Natural Resources Limited will post 4.2 EPS for the current fiscal year.

Canadian Natural Resources Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, July 7th. Stockholders of record on Tuesday, June 23rd were issued a dividend of $0.625 per share. The ex-dividend date of this dividend was Tuesday, June 23rd. This represents a $2.50 annualized dividend and a dividend yield of 5.8%. Canadian Natural Resources’s payout ratio is presently 54.03%.

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.