Baskin Financial Services Inc. Grows Stake in Canadian Natural Resources Limited (NYSE:CNQ)

Baskin Financial Services Inc. grew its stake in shares of Canadian Natural Resources Limited (NYSE:CNQ) (TSE:CNQ) by 1.5% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 985,280 shares of the oil and gas producer’s stock after acquiring an additional 14,812 shares during the quarter. Canadian Natural Resources comprises approximately 2.7% of Baskin Financial Services Inc.’s portfolio, making the stock its 21st biggest position. Baskin Financial Services Inc.’s holdings in Canadian Natural Resources were worth $32,696,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently modified their holdings of the stock. Jamison Private Wealth Management Inc. purchased a new position in Canadian Natural Resources in the 3rd quarter worth approximately $179,000. Creative Planning increased its holdings in shares of Canadian Natural Resources by 15.8% in the 3rd quarter. Creative Planning now owns 92,067 shares of the oil and gas producer’s stock worth $3,058,000 after purchasing an additional 12,570 shares in the last quarter. Sound Income Strategies LLC purchased a new position in shares of Canadian Natural Resources in the third quarter worth $46,000. Carnegie Investment Counsel lifted its holdings in shares of Canadian Natural Resources by 0.9% during the third quarter. Carnegie Investment Counsel now owns 88,416 shares of the oil and gas producer’s stock valued at $2,936,000 after purchasing an additional 783 shares in the last quarter. Finally, Code Waechter LLC purchased a new stake in shares of Canadian Natural Resources during the third quarter valued at $593,000. Hedge funds and other institutional investors own 74.03% of the company’s stock.

Canadian Natural Resources Stock Performance

Shares of Canadian Natural Resources stock traded up $0.06 during trading hours on Wednesday, reaching $35.42. 776,279 shares of the stock traded hands, compared to its average volume of 5,504,690. Canadian Natural Resources Limited has a one year low of $29.45 and a one year high of $41.29. The firm has a market capitalization of $75.37 billion, a price-to-earnings ratio of 14.08 and a beta of 1.50. The company has a quick ratio of 0.59, a current ratio of 0.88 and a debt-to-equity ratio of 0.24. The company has a 50 day moving average price of $34.93 and a 200 day moving average price of $36.21.

Canadian Natural Resources (NYSE:CNQ) (TSE:CNQ) last announced its earnings results on Thursday, August 1st. The oil and gas producer reported $0.88 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.62 by $0.26. Canadian Natural Resources had a net margin of 18.05% and a return on equity of 22.09%. The company had revenue of $7.76 billion during the quarter, compared to analyst estimates of $6.19 billion. During the same period in the previous year, the business posted $0.43 earnings per share. On average, equities research analysts expect that Canadian Natural Resources Limited will post 2.5 earnings per share for the current fiscal year.

Canadian Natural Resources Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, January 3rd. Investors of record on Friday, December 13th will be issued a $0.388 dividend. This is a boost from Canadian Natural Resources’s previous quarterly dividend of $0.38. This represents a $1.55 dividend on an annualized basis and a yield of 4.38%. The ex-dividend date is Friday, December 13th. Canadian Natural Resources’s dividend payout ratio (DPR) is currently 66.14%.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the company. Wolfe Research started coverage on Canadian Natural Resources in a research report on Thursday, July 18th. They issued a “peer perform” rating for the company. Desjardins raised shares of Canadian Natural Resources from a “hold” rating to a “moderate buy” rating in a report on Tuesday, October 8th. Finally, StockNews.com cut shares of Canadian Natural Resources from a “buy” rating to a “hold” rating in a report on Friday, August 23rd. Five equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $49.50.

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).