Bleakley Financial Group LLC Increases Stake in Canadian Natural Resources Limited $CNQ

Bleakley Financial Group LLC raised its holdings in shares of Canadian Natural Resources Limited (NYSE:CNQ) (TSE:CNQ) by 69.0% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 132,059 shares of the oil and gas producer’s stock after acquiring an additional 53,898 shares during the quarter. Bleakley Financial Group LLC’s holdings in Canadian Natural Resources were worth $6,435,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently modified their holdings of the company. J. Safra Sarasin Holding AG bought a new stake in Canadian Natural Resources during the first quarter valued at about $228,000. Ferguson Wellman Capital Management Inc. bought a new position in shares of Canadian Natural Resources in the first quarter worth about $23,716,000. Farrow Financial Inc. lifted its position in shares of Canadian Natural Resources by 0.5% during the 1st quarter. Farrow Financial Inc. now owns 69,190 shares of the oil and gas producer’s stock valued at $3,372,000 after buying an additional 330 shares in the last quarter. Candriam S.C.A. lifted its position in shares of Canadian Natural Resources by 7.9% during the 1st quarter. Candriam S.C.A. now owns 25,574 shares of the oil and gas producer’s stock valued at $1,244,000 after buying an additional 1,882 shares in the last quarter. Finally, Barnett & Company Inc. bought a new position in shares of Canadian Natural Resources during the 1st quarter valued at approximately $906,000. Institutional investors own 74.03% of the company’s stock.

Canadian Natural Resources Stock Down 0.9%

Shares of CNQ opened at $42.66 on Wednesday. The business’s 50 day moving average is $44.20 and its 200 day moving average is $42.64. The company has a current ratio of 0.98, a quick ratio of 0.68 and a debt-to-equity ratio of 0.37. Canadian Natural Resources Limited has a 12-month low of $29.30 and a 12-month high of $51.34. The company has a market capitalization of $88.55 billion, a PE ratio of 12.73 and a beta of 0.47.

Canadian Natural Resources (NYSE:CNQ) (TSE:CNQ) last posted 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. The business had revenue of $7.72 billion during the quarter, compared to the consensus estimate of $7.57 billion. Canadian Natural Resources had a return on equity of 17.49% and a net margin of 22.04%.During the same period in the prior year, the company posted $1.16 EPS. Research analysts expect 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 announced a quarterly dividend, which was paid on Tuesday, July 7th. Investors of record on Tuesday, June 23rd were given a dividend of $0.625 per share. The ex-dividend date was Tuesday, June 23rd. This represents a $2.50 dividend on an annualized basis and a dividend yield of 5.9%. Canadian Natural Resources’s dividend payout ratio is currently 54.03%.

Wall Street Analysts Forecast Growth

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

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.