Louisbourg Investments Inc. Has $5.69 Million Holdings in Canadian Natural Resources Limited $CNQ

Louisbourg Investments Inc. lifted its position in shares of Canadian Natural Resources Limited (NYSE:CNQ) (TSE:CNQ) by 4.2% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 181,202 shares of the oil and gas producer’s stock after buying an additional 7,336 shares during the quarter. Louisbourg Investments Inc.’s holdings in Canadian Natural Resources were worth $5,685,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of the company. T. Rowe Price Investment Management Inc. increased its position in shares of Canadian Natural Resources by 29.1% during the first quarter. T. Rowe Price Investment Management Inc. now owns 43,968,120 shares of the oil and gas producer’s stock worth $1,354,219,000 after buying an additional 9,915,345 shares during the period. Canada Pension Plan Investment Board boosted its stake in Canadian Natural Resources by 13.0% during the first quarter. Canada Pension Plan Investment Board now owns 41,769,153 shares of the oil and gas producer’s stock worth $1,285,464,000 after acquiring an additional 4,805,451 shares in the last quarter. Mackenzie Financial Corp boosted its stake in Canadian Natural Resources by 4.8% during the first quarter. Mackenzie Financial Corp now owns 33,100,240 shares of the oil and gas producer’s stock worth $1,018,469,000 after acquiring an additional 1,519,523 shares in the last quarter. 1832 Asset Management L.P. boosted its stake in Canadian Natural Resources by 1.9% during the first quarter. 1832 Asset Management L.P. now owns 31,822,379 shares of the oil and gas producer’s stock worth $980,129,000 after acquiring an additional 603,101 shares in the last quarter. Finally, Bank of Nova Scotia boosted its stake in Canadian Natural Resources by 86.6% during the first quarter. Bank of Nova Scotia now owns 24,262,707 shares of the oil and gas producer’s stock worth $746,675,000 after acquiring an additional 11,259,267 shares in the last quarter. 74.03% of the stock is currently owned by institutional investors and hedge funds.

Canadian Natural Resources Stock Down 3.9%

Canadian Natural Resources stock opened at $31.43 on Friday. Canadian Natural Resources Limited has a 1-year low of $24.65 and a 1-year high of $37.91. The firm has a market capitalization of $65.59 billion, a price-to-earnings ratio of 11.14 and a beta of 0.97. The firm’s fifty day moving average price is $31.33 and its two-hundred day moving average price is $30.86. The company has a current ratio of 0.85, a quick ratio of 0.54 and a debt-to-equity ratio of 0.38.

Canadian Natural Resources (NYSE:CNQ) (TSE:CNQ) last released its quarterly earnings data on Thursday, August 7th. The oil and gas producer reported $0.51 earnings per share for the quarter, beating analysts’ consensus estimates of $0.44 by $0.07. Canadian Natural Resources had a net margin of 19.00% and a return on equity of 19.67%. The firm had revenue of $6.39 billion for the quarter, compared to analyst estimates of $8.97 billion. During the same period last year, the firm earned $0.88 earnings per share. On average, equities research analysts predict that Canadian Natural Resources Limited will post 2.45 earnings per share for the current fiscal year.

Canadian Natural Resources Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 3rd. Shareholders of record on Friday, September 19th were paid a $0.4269 dividend. This represents a $1.71 dividend on an annualized basis and a dividend yield of 5.4%. This is a positive change from Canadian Natural Resources’s previous quarterly dividend of $0.42. The ex-dividend date of this dividend was Friday, September 19th. Canadian Natural Resources’s payout ratio is 60.64%.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the stock. TD Securities reissued a “buy” rating on shares of Canadian Natural Resources in a research note on Tuesday, September 30th. National Bankshares reissued a “sector perform” rating on shares of Canadian Natural Resources in a research note on Thursday, July 17th. Scotiabank reissued an “outperform” rating on shares of Canadian Natural Resources in a research note on Thursday. Zacks Research raised shares of Canadian Natural Resources from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, August 26th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Canadian Natural Resources in a research note on Wednesday. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat.com, Canadian Natural Resources has a consensus rating of “Moderate Buy” and a consensus price target 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).