Telemus Capital LLC bought a new stake in Canadian Natural Resources Limited (NYSE:CNQ) (TSE:CNQ) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 11,805 shares of the oil and gas producer’s stock, valued at approximately $340,000.

Other institutional investors have also added to or reduced their stakes in the company. Cambiar Investors LLC acquired a new position in Canadian Natural Resources Limited during the first quarter valued at about $169,519,000. Ameriprise Financial Inc. boosted its position in Canadian Natural Resources Limited by 93.2% in the first quarter. Ameriprise Financial Inc. now owns 7,736,994 shares of the oil and gas producer’s stock valued at $253,695,000 after buying an additional 3,732,712 shares during the last quarter. OMERS ADMINISTRATION Corp acquired a new position in Canadian Natural Resources Limited during the first quarter valued at about $116,792,000. Bank of Montreal Can boosted its position in Canadian Natural Resources Limited by 9.2% in the first quarter. Bank of Montreal Can now owns 28,617,704 shares of the oil and gas producer’s stock valued at $938,375,000 after buying an additional 2,406,633 shares during the last quarter. Finally, CIBC Asset Management Inc boosted its position in Canadian Natural Resources Limited by 11.9% in the second quarter. CIBC Asset Management Inc now owns 16,749,799 shares of the oil and gas producer’s stock valued at $482,767,000 after buying an additional 1,780,934 shares during the last quarter. Institutional investors own 60.72% of the company’s stock.

Shares of Canadian Natural Resources Limited (NYSE:CNQ) opened at 32.11 on Monday. The stock has a market cap of $35.87 billion, a price-to-earnings ratio of 305.81 and a beta of 1.48. The stock’s 50 day moving average price is $29.24 and its 200 day moving average price is $30.58. Canadian Natural Resources Limited has a 52 week low of $27.52 and a 52 week high of $35.28.

Canadian Natural Resources Limited declared that its board has approved a share buyback plan on Wednesday, May 17th that authorizes the company to buyback 27,930,000 outstanding shares. This buyback authorization authorizes the oil and gas producer to buy shares of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s board of directors believes its shares are undervalued.

The business also recently disclosed a quarterly dividend, which will be paid on Sunday, October 1st. Investors of record on Friday, September 15th will be paid a dividend of $0.2212 per share. This represents a $0.88 dividend on an annualized basis and a dividend yield of 2.76%. The ex-dividend date of this dividend is Thursday, September 14th. This is a positive change from Canadian Natural Resources Limited’s previous quarterly dividend of $0.20. Canadian Natural Resources Limited’s dividend payout ratio (DPR) is currently 78.43%.

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Several equities analysts have issued reports on CNQ shares. TheStreet upgraded Canadian Natural Resources Limited from a “d+” rating to a “c-” rating in a research report on Wednesday, April 12th. Zacks Investment Research upgraded Canadian Natural Resources Limited from a “hold” rating to a “strong-buy” rating and set a $35.00 target price on the stock in a research report on Friday, May 5th. Morgan Stanley upgraded Canadian Natural Resources Limited from an “equal weight” rating to an “overweight” rating and set a $46.00 target price on the stock in a research report on Wednesday, July 19th. BidaskClub upgraded Canadian Natural Resources Limited from a “strong sell” rating to a “sell” rating in a research report on Friday, June 30th. Finally, Citigroup Inc. cut Canadian Natural Resources Limited from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $40.00 to $33.00 in a research report on Friday, July 21st. They noted that the move was a valuation call. One analyst has rated the stock with a sell rating, four have assigned a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Canadian Natural Resources Limited presently has a consensus rating of “Buy” and a consensus price target of $45.46.

Canadian Natural Resources Limited Company Profile

Canadian Natural Resources Limited is an independent crude oil and natural gas exploration, development and production company. The Company’s segments include Exploration and Production, Oil Sands Mining and Upgrading, and Midstream. The Exploration and Production segment includes exploration, development, production and marketing of crude oil, natural gas liquids (NGLs) and natural gas.

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Institutional Ownership by Quarter for Canadian Natural Resources Limited (NYSE:CNQ)

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