Mackenzie Financial Corp Raises Stock Position in Canadian Natural Resources Limited (NYSE:CNQ)

Mackenzie Financial Corp grew its holdings in Canadian Natural Resources Limited (NYSE:CNQ) (TSE:CNQ) by 4.9% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 31,580,717 shares of the oil and gas producer’s stock after buying an additional 1,464,807 shares during the period. Canadian Natural Resources makes up 1.3% of Mackenzie Financial Corp’s portfolio, making the stock its 13th largest holding. Mackenzie Financial Corp owned approximately 1.50% of Canadian Natural Resources worth $973,976,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of CNQ. FMR LLC lifted its stake in shares of Canadian Natural Resources by 8.7% in the 4th quarter. FMR LLC now owns 92,550,104 shares of the oil and gas producer’s stock valued at $2,857,337,000 after purchasing an additional 7,372,718 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. lifted its stake in shares of Canadian Natural Resources by 31.6% in the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 13,433,797 shares of the oil and gas producer’s stock valued at $414,223,000 after purchasing an additional 3,224,548 shares during the last quarter. Geode Capital Management LLC lifted its stake in shares of Canadian Natural Resources by 30.1% in the 4th quarter. Geode Capital Management LLC now owns 12,708,163 shares of the oil and gas producer’s stock valued at $400,222,000 after purchasing an additional 2,939,866 shares during the last quarter. T. Rowe Price Investment Management Inc. raised its stake in shares of Canadian Natural Resources by 7.3% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 34,052,775 shares of the oil and gas producer’s stock valued at $1,051,210,000 after acquiring an additional 2,312,437 shares during the period. Finally, Bank of New York Mellon Corp raised its stake in shares of Canadian Natural Resources by 87.0% in the fourth quarter. Bank of New York Mellon Corp now owns 4,437,771 shares of the oil and gas producer’s stock valued at $136,994,000 after acquiring an additional 2,064,492 shares during the period. 74.03% of the stock is owned by institutional investors.

Canadian Natural Resources Trading Up 0.7%

Shares of Canadian Natural Resources stock opened at $31.02 on Friday. 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 Limited has a 12-month low of $24.65 and a 12-month high of $38.86. The firm has a market capitalization of $64.98 billion, a price-to-earnings ratio of 12.05 and a beta of 1.04. The firm’s 50 day simple moving average is $29.44 and its two-hundred day simple moving average is $30.60.

Canadian Natural Resources (NYSE:CNQ) (TSE:CNQ) last issued its quarterly earnings results on Thursday, May 8th. The oil and gas producer reported $0.81 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.73 by $0.08. Canadian Natural Resources had a net margin of 18.45% and a return on equity of 20.07%. The business had revenue of $6.96 billion for the quarter, compared to analyst estimates of $10.14 billion. During the same quarter in the prior year, the business posted $1.37 EPS. Analysts predict that Canadian Natural Resources Limited will post 2.45 EPS for the current year.

Canadian Natural Resources Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, July 3rd. Shareholders of record on Friday, June 13th will be paid a dividend of $0.4227 per share. This represents a $1.69 annualized dividend and a yield of 5.45%. The ex-dividend date of this dividend is Friday, June 13th. This is an increase from Canadian Natural Resources’s previous quarterly dividend of $0.41. Canadian Natural Resources’s payout ratio is presently 63.92%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the company. Royal Bank of Canada reissued an “outperform” rating and set a $63.00 price target on shares of Canadian Natural Resources in a research note on Thursday, March 27th. Scotiabank raised shares of Canadian Natural Resources from a “sector perform” rating to a “sector outperform” rating in a research note on Wednesday, March 19th. Evercore ISI raised shares of Canadian Natural Resources from an “in-line” rating to an “outperform” rating in a research note on Friday, March 7th. Raymond James raised shares of Canadian Natural Resources from a “market perform” rating to an “outperform” rating in a research note on Wednesday, April 9th. Finally, Tudor Pickering lowered Canadian Natural Resources from a “strong-buy” rating to a “hold” rating in a research note on Monday, February 10th. Three research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $63.00.

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).