K.J. Harrison & Partners Inc Grows Position in Canadian Natural Resources Limited (NYSE:CNQ)

K.J. Harrison & Partners Inc boosted its stake in shares of Canadian Natural Resources Limited (NYSE:CNQ) (TSE:CNQ) by 61.4% during the 4th quarter, Holdings Channel.com reports. The firm owned 147,082 shares of the oil and gas producer’s stock after buying an additional 55,945 shares during the quarter. Canadian Natural Resources accounts for about 1.6% of K.J. Harrison & Partners Inc’s holdings, making the stock its 11th largest position. K.J. Harrison & Partners Inc’s holdings in Canadian Natural Resources were worth $9,654,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Central Bank & Trust Co. purchased a new position in Canadian Natural Resources during the fourth quarter valued at $26,000. GAMMA Investing LLC bought a new stake in Canadian Natural Resources during the fourth quarter valued at about $27,000. Janiczek Wealth Management LLC raised its holdings in Canadian Natural Resources by 39.7% during the fourth quarter. Janiczek Wealth Management LLC now owns 609 shares of the oil and gas producer’s stock valued at $40,000 after acquiring an additional 173 shares during the period. Federated Hermes Inc. bought a new stake in Canadian Natural Resources during the fourth quarter valued at about $61,000. Finally, Massmutual Trust Co. FSB ADV raised its holdings in Canadian Natural Resources by 21.2% during the fourth quarter. Massmutual Trust Co. FSB ADV now owns 1,070 shares of the oil and gas producer’s stock valued at $70,000 after acquiring an additional 187 shares during the period. 74.03% of the stock is currently owned by hedge funds and other institutional investors.

Canadian Natural Resources Price Performance

Shares of CNQ stock traded up $0.61 during trading hours on Friday, hitting $77.95. The stock had a trading volume of 1,599,384 shares, compared to its average volume of 3,307,754. Canadian Natural Resources Limited has a one year low of $52.66 and a one year high of $82.58. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.96 and a quick ratio of 0.69. The stock’s 50-day moving average price is $74.12 and its two-hundred day moving average price is $67.77. The stock has a market capitalization of $83.57 billion, a price-to-earnings ratio of 14.07 and a beta of 1.54.

Canadian Natural Resources (NYSE:CNQ) (TSE:CNQ) last issued its earnings results on Thursday, February 29th. The oil and gas producer reported $1.72 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.59 by $0.13. Canadian Natural Resources had a return on equity of 21.74% and a net margin of 20.15%. The firm had revenue of $7.02 billion for the quarter, compared to analysts’ expectations of $6.73 billion. Equities analysts forecast that Canadian Natural Resources Limited will post 5.71 EPS for the current year.

Canadian Natural Resources Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, April 5th. Stockholders of record on Friday, March 15th were issued a $0.774 dividend. This represents a $3.10 annualized dividend and a dividend yield of 3.97%. This is a boost from Canadian Natural Resources’s previous quarterly dividend of $0.72. The ex-dividend date was Thursday, March 14th. Canadian Natural Resources’s payout ratio is 53.25%.

Analyst Upgrades and Downgrades

A number of research firms have commented on CNQ. JPMorgan Chase & Co. raised their price target on Canadian Natural Resources from $101.00 to $102.00 and gave the company a “neutral” rating in a report on Thursday, January 11th. Desjardins cut Canadian Natural Resources from a “buy” rating to a “hold” rating in a report on Tuesday. Six research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, Canadian Natural Resources has an average rating of “Hold” and an average target price of $94.00.

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).