PCJ Investment Counsel Ltd. Acquires 1,290 Shares of Canadian Natural Resources Limited (NYSE:CNQ)

PCJ Investment Counsel Ltd. boosted its position in Canadian Natural Resources Limited (NYSE:CNQ) (TSE:CNQ) by 1.1% during the third quarter, according to its most recent 13F filing with the SEC. The firm owned 121,600 shares of the oil and gas producer’s stock after acquiring an additional 1,290 shares during the period. Canadian Natural Resources accounts for approximately 1.3% of PCJ Investment Counsel Ltd.’s portfolio, making the stock its 24th largest holding. PCJ Investment Counsel Ltd.’s holdings in Canadian Natural Resources were worth $4,037,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Lighthouse Investment Partners LLC bought a new stake in shares of Canadian Natural Resources during the second quarter valued at about $890,000. Canoe Financial LP boosted its stake in Canadian Natural Resources by 226.0% in the third quarter. Canoe Financial LP now owns 1,549,610 shares of the oil and gas producer’s stock worth $51,469,000 after buying an additional 1,074,199 shares in the last quarter. Aigen Investment Management LP lifted its position in Canadian Natural Resources by 123.0% in the third quarter. Aigen Investment Management LP now owns 54,323 shares of the oil and gas producer’s stock valued at $1,804,000 after purchasing an additional 29,961 shares during the last quarter. Capital Wealth Planning LLC lifted its position in Canadian Natural Resources by 228.5% in the second quarter. Capital Wealth Planning LLC now owns 91,652 shares of the oil and gas producer’s stock valued at $3,263,000 after purchasing an additional 63,756 shares during the last quarter. Finally, Souders Financial Advisors lifted its position in Canadian Natural Resources by 103.0% in the second quarter. Souders Financial Advisors now owns 99,999 shares of the oil and gas producer’s stock valued at $3,560,000 after purchasing an additional 50,744 shares during the last quarter. 74.03% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on CNQ shares. StockNews.com downgraded Canadian Natural Resources from a “buy” rating to a “hold” rating in a report on Friday, August 23rd. Desjardins raised Canadian Natural Resources from a “hold” rating to a “moderate buy” rating in a research note on Tuesday, October 8th. Five research analysts have rated the stock with a hold rating, According to data from MarketBeat.com, Canadian Natural Resources currently has a consensus rating of “Hold” and a consensus price target of $51.00.

Canadian Natural Resources Stock Up 0.0 %

Shares of CNQ opened at $33.67 on Wednesday. The business’s 50 day moving average is $34.46 and its 200 day moving average is $35.41. The company has a market capitalization of $71.06 billion, a PE ratio of 13.10 and a beta of 1.50. Canadian Natural Resources Limited has a 12-month low of $29.45 and a 12-month high of $41.29. The company has a current ratio of 0.84, a quick ratio of 0.53 and a debt-to-equity ratio of 0.21.

Canadian Natural Resources (NYSE:CNQ) (TSE:CNQ) last announced its earnings results on Thursday, October 31st. The oil and gas producer reported $0.97 EPS for the quarter, topping analysts’ consensus estimates of $0.67 by $0.30. Canadian Natural Resources had a return on equity of 20.07% and a net margin of 18.45%. The firm had revenue of $7.62 billion during the quarter, compared to analysts’ expectations of $6.40 billion. During the same quarter in the previous year, the business earned $0.96 EPS. Research analysts expect that Canadian Natural Resources Limited will post 2.44 earnings per share for the current fiscal year.

Canadian Natural Resources Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 3rd. Stockholders of record on Friday, December 13th will be given a $0.388 dividend. This is a boost from Canadian Natural Resources’s previous quarterly dividend of $0.38. The ex-dividend date is Friday, December 13th. This represents a $1.55 dividend on an annualized basis and a dividend yield of 4.61%. Canadian Natural Resources’s dividend payout ratio (DPR) is presently 64.59%.

About Canadian Natural Resources

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).