Bleakley Financial Group LLC Grows Position in Canadian Natural Resources Limited $CNQ

Bleakley Financial Group LLC grew its position in Canadian Natural Resources Limited (NYSE:CNQ) (TSE:CNQ) by 69.0% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 132,059 shares of the oil and gas producer’s stock after acquiring an additional 53,898 shares during the quarter. Bleakley Financial Group LLC’s holdings in Canadian Natural Resources were worth $6,435,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also modified their holdings of the company. AQR Capital Management LLC increased its position in Canadian Natural Resources by 85.5% in the first quarter. AQR Capital Management LLC now owns 18,090 shares of the oil and gas producer’s stock worth $557,000 after purchasing an additional 8,336 shares during the last quarter. Jones Financial Companies Lllp increased its holdings in shares of Canadian Natural Resources by 92.7% in the 1st quarter. Jones Financial Companies Lllp now owns 29,096 shares of the oil and gas producer’s stock worth $896,000 after buying an additional 13,996 shares during the last quarter. Empowered Funds LLC raised its position in shares of Canadian Natural Resources by 4.3% during the 1st quarter. Empowered Funds LLC now owns 79,374 shares of the oil and gas producer’s stock valued at $2,445,000 after buying an additional 3,266 shares in the last quarter. Geneos Wealth Management Inc. lifted its holdings in shares of Canadian Natural Resources by 47.3% in the 1st quarter. Geneos Wealth Management Inc. now owns 1,644 shares of the oil and gas producer’s stock valued at $51,000 after acquiring an additional 528 shares during the last quarter. Finally, EverSource Wealth Advisors LLC grew its position in Canadian Natural Resources by 65.5% in the second quarter. EverSource Wealth Advisors LLC now owns 4,513 shares of the oil and gas producer’s stock worth $142,000 after acquiring an additional 1,786 shares in the last quarter. 74.03% of the stock is owned by hedge funds and other institutional investors.

Canadian Natural Resources Price Performance

Canadian Natural Resources stock opened at $42.66 on Wednesday. Canadian Natural Resources Limited has a 12-month low of $29.30 and a 12-month high of $51.34. The company has a current ratio of 0.98, a quick ratio of 0.68 and a debt-to-equity ratio of 0.37. The firm has a 50-day moving average price of $44.20 and a 200-day moving average price of $42.64. The firm has a market capitalization of $88.55 billion, a PE ratio of 12.73 and a beta of 0.47.

Canadian Natural Resources (NYSE:CNQ) (TSE:CNQ) last issued its quarterly earnings results on Thursday, May 7th. The oil and gas producer reported $0.85 EPS for the quarter, beating the consensus estimate of $0.74 by $0.11. Canadian Natural Resources had a net margin of 22.04% and a return on equity of 17.49%. The company had revenue of $7.72 billion for the quarter, compared to the consensus estimate of $7.57 billion. During the same period in the prior year, the firm posted $1.16 EPS. As a group, equities research analysts forecast that Canadian Natural Resources Limited will post 4.2 EPS for the current year.

Canadian Natural Resources Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, July 7th. Shareholders of record on Tuesday, June 23rd were given a dividend of $0.625 per share. This represents a $2.50 annualized dividend and a dividend yield of 5.9%. The ex-dividend date was Tuesday, June 23rd. Canadian Natural Resources’s payout ratio is 54.03%.

Analyst Upgrades and Downgrades

CNQ has been the topic of a number of recent research reports. Weiss Ratings downgraded Canadian Natural Resources from a “buy (b)” rating to a “buy (b-)” rating in a research report on Monday, May 11th. Raymond James Financial upgraded Canadian Natural Resources from a “market perform” rating to an “outperform” rating in a report on Thursday, May 7th. Scotiabank raised Canadian Natural Resources to a “hold” rating in a research report on Friday, June 26th. Finally, Zacks Research downgraded Canadian Natural Resources from a “strong-buy” rating to a “hold” rating in a research report on Monday, June 8th. Six equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. Based on data from MarketBeat.com, Canadian Natural Resources currently has a consensus rating of “Moderate Buy” and a consensus price target of $57.00.

About Canadian Natural Resources

Canadian Natural Resources Limited (NYSE: CNQ) is a Calgary-based independent oil and natural gas exploration and production company. Established in the early 1970s and publicly listed in Canada and the United States, the company is principally engaged in the exploration, development, production, and marketing of crude oil, natural gas and natural gas liquids. Its asset base spans conventional and unconventional reservoirs and includes oil sands mining and in-situ thermal projects, midstream processing and upgrading capacity, and related field operations.

The company’s operations are concentrated in Western Canada, where it develops heavy crude, bitumen from oil sands and conventional light crude and natural gas resources.