PFG Investments LLC Buys Shares of 5,983 Canadian Natural Resources Limited (NYSE:CNQ)

PFG Investments LLC bought a new stake in Canadian Natural Resources Limited (NYSE:CNQ) (TSE:CNQ) during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 5,983 shares of the oil and gas producer’s stock, valued at approximately $457,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in CNQ. CWM LLC grew its holdings in Canadian Natural Resources by 52.0% in the 3rd quarter. CWM LLC now owns 2,559 shares of the oil and gas producer’s stock valued at $165,000 after buying an additional 875 shares during the last quarter. PDS Planning Inc grew its holdings in shares of Canadian Natural Resources by 9.2% during the 3rd quarter. PDS Planning Inc now owns 3,890 shares of the oil and gas producer’s stock worth $252,000 after purchasing an additional 327 shares in the last quarter. Galibier Capital Management Ltd. grew its holdings in shares of Canadian Natural Resources by 4.5% during the 3rd quarter. Galibier Capital Management Ltd. now owns 487,124 shares of the oil and gas producer’s stock worth $31,648,000 after purchasing an additional 21,085 shares in the last quarter. Cambridge Investment Research Advisors Inc. grew its holdings in shares of Canadian Natural Resources by 7.7% during the 3rd quarter. Cambridge Investment Research Advisors Inc. now owns 12,928 shares of the oil and gas producer’s stock worth $836,000 after purchasing an additional 919 shares in the last quarter. Finally, Mission Wealth Management LP grew its holdings in shares of Canadian Natural Resources by 3.6% during the 3rd quarter. Mission Wealth Management LP now owns 4,796 shares of the oil and gas producer’s stock worth $310,000 after purchasing an additional 168 shares in the last quarter. Institutional investors and hedge funds own 74.03% of the company’s stock.

Canadian Natural Resources Price Performance

CNQ traded down $2.39 during trading on Tuesday, hitting $75.81. The company’s stock had a trading volume of 2,318,818 shares, compared to its average volume of 3,274,518. The firm’s 50 day moving average price is $74.67 and its two-hundred day moving average price is $67.96. The company has a quick ratio of 0.69, a current ratio of 0.96 and a debt-to-equity ratio of 0.25. Canadian Natural Resources Limited has a 12 month low of $52.66 and a 12 month high of $82.58. The stock has a market capitalization of $81.28 billion, a price-to-earnings ratio of 13.68 and a beta of 1.54.

Canadian Natural Resources (NYSE:CNQ) (TSE:CNQ) last issued its quarterly earnings data on Thursday, February 29th. The oil and gas producer reported $1.72 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.59 by $0.13. Canadian Natural Resources had a return on equity of 21.74% and a net margin of 20.15%. The firm had revenue of $7.02 billion during the quarter, compared to the consensus estimate of $6.73 billion. Sell-side analysts forecast that Canadian Natural Resources Limited will post 5.71 earnings per share for the current fiscal year.

Canadian Natural Resources Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, April 5th. Shareholders of record on Friday, March 15th were given a $0.774 dividend. This is an increase from Canadian Natural Resources’s previous quarterly dividend of $0.72. The ex-dividend date was Thursday, March 14th. This represents a $3.10 annualized dividend and a yield of 4.08%. Canadian Natural Resources’s payout ratio is presently 53.25%.

Wall Street Analyst Weigh In

Several brokerages recently commented on CNQ. Desjardins lowered Canadian Natural Resources from a “buy” rating to a “hold” rating in a research note on Tuesday, April 23rd. JPMorgan Chase & Co. boosted their price target on Canadian Natural Resources from $101.00 to $102.00 and gave the company a “neutral” rating in a research note on Thursday, January 11th. Six equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $94.00.

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).