NGAM Advisors L.P. Acquires 12,742 Shares of Canadian Natural Resources Limited (NYSE:CNQ)

NGAM Advisors L.P. increased its position in Canadian Natural Resources Limited (NYSE:CNQ) (TSE:CNQ) by 10.0% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 140,715 shares of the oil and gas producer’s stock after buying an additional 12,742 shares during the period. NGAM Advisors L.P.’s holdings in Canadian Natural Resources Limited were worth $4,058,000 at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. Russell Investments Group Ltd. raised its position in shares of Canadian Natural Resources Limited by 3.9% in the first quarter. Russell Investments Group Ltd. now owns 3,517,431 shares of the oil and gas producer’s stock valued at $114,868,000 after buying an additional 130,643 shares during the period. ARP Americas LLC purchased a new stake in Canadian Natural Resources Limited during the first quarter valued at about $211,000. Nikko Asset Management Americas Inc. increased its stake in Canadian Natural Resources Limited by 66.9% in the first quarter. Nikko Asset Management Americas Inc. now owns 499,630 shares of the oil and gas producer’s stock valued at $16,381,000 after buying an additional 200,300 shares in the last quarter. Janney Montgomery Scott LLC increased its stake in Canadian Natural Resources Limited by 143.4% in the first quarter. Janney Montgomery Scott LLC now owns 25,406 shares of the oil and gas producer’s stock valued at $833,000 after buying an additional 14,968 shares in the last quarter. Finally, Acadian Asset Management LLC increased its stake in Canadian Natural Resources Limited by 2,400.0% in the first quarter. Acadian Asset Management LLC now owns 5,000 shares of the oil and gas producer’s stock valued at $163,000 after buying an additional 4,800 shares in the last quarter. 60.27% of the stock is currently owned by institutional investors and hedge funds.

Canadian Natural Resources Limited (CNQ) traded up 0.10% during midday trading on Friday, hitting $30.78. The stock had a trading volume of 1,941,949 shares. The firm has a 50 day moving average price of $30.30 and a 200 day moving average price of $30.66. Canadian Natural Resources Limited has a one year low of $27.52 and a one year high of $35.28. The stock has a market cap of $37.40 billion, a PE ratio of 28.08 and a beta of 1.48.

Canadian Natural Resources Limited announced that its Board of Directors has approved a share repurchase program 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 purchase shares of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s leadership believes its stock is 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 issued a dividend of $0.2212 per share. This represents a $0.88 dividend on an annualized basis and a dividend yield of 2.87%. This is a positive change from Canadian Natural Resources Limited’s previous quarterly dividend of $0.20. The ex-dividend date is Thursday, September 14th. Canadian Natural Resources Limited’s dividend payout ratio (DPR) is presently 78.43%.

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Several research firms have recently issued reports on CNQ. Zacks Investment Research cut Canadian Natural Resources Limited from a “hold” rating to a “sell” rating in a research report on Tuesday, August 8th. National Bank Financial started coverage on Canadian Natural Resources Limited in a research report on Tuesday, June 27th. They issued an “outperform” rating for the company. BidaskClub raised Canadian Natural Resources Limited from a “strong sell” rating to a “sell” rating in a research report on Friday, June 30th. Morgan Stanley raised Canadian Natural Resources Limited from an “equal weight” rating to an “overweight” rating and set a $46.00 target price for the company in a research report on Wednesday, July 19th. Finally, ValuEngine raised Canadian Natural Resources Limited from a “sell” rating to a “hold” rating in a research report on Wednesday, July 12th. One investment analyst has rated the stock with a sell rating, four have given a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average price target of $45.50.

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.

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

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