Hillsdale Investment Management Inc. Boosts Stake in Canadian Natural Resources Limited $CNQ

Hillsdale Investment Management Inc. boosted its position in shares of Canadian Natural Resources Limited (NYSE:CNQ) (TSE:CNQ) by 68.1% in the second quarter, Holdings Channel.com reports. The institutional investor owned 666,405 shares of the oil and gas producer’s stock after acquiring an additional 269,858 shares during the period. Canadian Natural Resources comprises approximately 0.8% of Hillsdale Investment Management Inc.’s investment portfolio, making the stock its 28th biggest holding. Hillsdale Investment Management Inc.’s holdings in Canadian Natural Resources were worth $20,961,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in CNQ. Ameritas Advisory Services LLC purchased a new stake in shares of Canadian Natural Resources during the 2nd quarter worth approximately $27,000. Addison Advisors LLC increased its position in Canadian Natural Resources by 309.1% in the second quarter. Addison Advisors LLC now owns 896 shares of the oil and gas producer’s stock worth $28,000 after purchasing an additional 677 shares during the last quarter. Investment Management Corp VA ADV raised its stake in Canadian Natural Resources by 158.3% during the first quarter. Investment Management Corp VA ADV now owns 997 shares of the oil and gas producer’s stock valued at $31,000 after purchasing an additional 611 shares in the last quarter. Geneos Wealth Management Inc. lifted its position in Canadian Natural Resources by 47.3% during the first quarter. Geneos Wealth Management Inc. now owns 1,644 shares of the oil and gas producer’s stock valued at $51,000 after purchasing an additional 528 shares during the last quarter. Finally, Adirondack Trust Co. lifted its position in Canadian Natural Resources by 317.1% during the second quarter. Adirondack Trust Co. now owns 1,710 shares of the oil and gas producer’s stock valued at $54,000 after purchasing an additional 1,300 shares during the last quarter. Institutional investors own 74.03% of the company’s stock.

Canadian Natural Resources Stock Performance

Shares of Canadian Natural Resources stock opened at $33.97 on Friday. The company has a quick ratio of 0.54, a current ratio of 0.85 and a debt-to-equity ratio of 0.38. The stock’s fifty day moving average is $31.97 and its two-hundred day moving average is $31.49. Canadian Natural Resources Limited has a 52 week low of $24.65 and a 52 week high of $34.97. The company has a market capitalization of $70.77 billion, a PE ratio of 12.05 and a beta of 0.96.

Canadian Natural Resources (NYSE:CNQ) (TSE:CNQ) last issued its earnings results on Thursday, November 6th. The oil and gas producer reported $0.62 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.54 by $0.08. The firm had revenue of $6.79 billion during the quarter, compared to analyst estimates of $6.81 billion. Canadian Natural Resources had a net margin of 19.00% and a return on equity of 19.67%. During the same period in the previous year, the firm earned $0.97 earnings per share. As a group, analysts expect that Canadian Natural Resources Limited will post 2.45 earnings per share for the current year.

Canadian Natural Resources Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, January 6th. Shareholders of record on Friday, December 12th will be paid a $0.5875 dividend. The ex-dividend date is Friday, December 12th. This represents a $2.35 dividend on an annualized basis and a yield of 6.9%. This is an increase from Canadian Natural Resources’s previous quarterly dividend of $0.43. Canadian Natural Resources’s payout ratio is currently 73.89%.

Analyst Ratings Changes

Several analysts have recently issued reports on CNQ shares. TD Securities restated a “buy” rating on shares of Canadian Natural Resources in a research report on Tuesday, September 30th. Royal Bank Of Canada restated an “outperform” rating and set a $62.00 price objective on shares of Canadian Natural Resources in a research report on Wednesday, September 24th. Raymond James Financial reaffirmed an “outperform” rating on shares of Canadian Natural Resources in a research note on Friday, August 8th. Wells Fargo & Company raised Canadian Natural Resources to a “hold” rating in a research report on Thursday, October 16th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Canadian Natural Resources in a report on Wednesday, October 8th. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $62.00.

Canadian Natural Resources 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).