17,537 Shares in Canadian Natural Resources Limited $CNQ Acquired by Summerhill Capital Management lnc.

Summerhill Capital Management lnc. bought a new position in shares of Canadian Natural Resources Limited (NYSE:CNQ) (TSE:CNQ) during the 1st quarter, according to its most recent 13F filing with the SEC. The firm bought 17,537 shares of the oil and gas producer’s stock, valued at approximately $854,000. Canadian Natural Resources accounts for approximately 0.7% of Summerhill Capital Management lnc.’s holdings, making the stock its 21st largest position.

Other institutional investors have also recently bought and sold shares of the company. TD Waterhouse Canada Inc. boosted its stake in Canadian Natural Resources by 4.9% in the 4th quarter. TD Waterhouse Canada Inc. now owns 6,758,445 shares of the oil and gas producer’s stock worth $228,729,000 after purchasing an additional 315,460 shares during the period. Marshall Financial Group LLC acquired a new stake in shares of Canadian Natural Resources in the 4th quarter valued at about $869,000. Numerai GP LLC raised its stake in shares of Canadian Natural Resources by 102.5% in the 3rd quarter. Numerai GP LLC now owns 77,164 shares of the oil and gas producer’s stock valued at $2,466,000 after purchasing an additional 39,049 shares during the period. Novem Group bought a new stake in shares of Canadian Natural Resources in the fourth quarter valued at about $1,270,000. Finally, Bleakley Financial Group LLC boosted its position in shares of Canadian Natural Resources by 59.8% during the fourth quarter. Bleakley Financial Group LLC now owns 78,161 shares of the oil and gas producer’s stock worth $2,646,000 after buying an additional 29,249 shares during the period. Institutional investors own 74.03% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on CNQ shares. Raymond James Financial upgraded Canadian Natural Resources from a “market perform” rating to an “outperform” rating in a report on Thursday, May 7th. The Goldman Sachs Group upped their price target on Canadian Natural Resources from $37.00 to $49.00 and gave the stock a “buy” rating in a research report on Thursday, March 12th. Royal Bank Of Canada raised their price target on shares of Canadian Natural Resources from $61.00 to $65.00 and gave the stock an “outperform” rating in a research note on Friday, March 6th. Weiss Ratings downgraded shares of Canadian Natural Resources from a “buy (b)” rating to a “buy (b-)” rating in a report on Monday, May 11th. Finally, Zacks Research lowered shares of Canadian Natural Resources from a “strong-buy” rating to a “hold” rating in a research report on Monday, June 8th. Seven equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat, Canadian Natural Resources presently has an average rating of “Moderate Buy” and a consensus price target of $57.00.

Canadian Natural Resources Price Performance

Shares of NYSE CNQ opened at $39.53 on Friday. 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 business has a 50-day moving average of $45.33 and a 200-day moving average of $41.90. The stock has a market capitalization of $82.05 billion, a price-to-earnings ratio of 11.80 and a beta of 0.45. Canadian Natural Resources Limited has a fifty-two week low of $29.30 and a fifty-two week high of $51.34.

Canadian Natural Resources (NYSE:CNQ) (TSE:CNQ) last released its earnings results on Thursday, May 7th. The oil and gas producer reported $0.85 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.74 by $0.11. Canadian Natural Resources had a return on equity of 17.49% and a net margin of 22.04%.The business had revenue of $7.72 billion for the quarter, compared to analyst estimates of $7.57 billion. During the same quarter in the prior year, the company posted $1.16 earnings per share. As a group, sell-side analysts predict that Canadian Natural Resources Limited will post 4.2 earnings per share for the current fiscal year.

Canadian Natural Resources Announces Dividend

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