Grantham Mayo Van Otterloo & Co. LLC Purchases New Holdings in Canadian Natural Resources Limited (NYSE:CNQ)

Grantham Mayo Van Otterloo & Co. LLC purchased a new stake in Canadian Natural Resources Limited (NYSE:CNQ) (TSE:CNQ) during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 12,700 shares of the oil and gas producer’s stock, valued at approximately $702,000.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Public Sector Pension Investment Board increased its position in Canadian Natural Resources by 4.5% in the 1st quarter. Public Sector Pension Investment Board now owns 298,753 shares of the oil and gas producer’s stock valued at $16,510,000 after acquiring an additional 12,805 shares during the period. Prudential PLC boosted its holdings in Canadian Natural Resources by 11.1% in the 1st quarter. Prudential PLC now owns 6,048 shares of the oil and gas producer’s stock valued at $335,000 after purchasing an additional 602 shares in the last quarter. Sei Investments Co. boosted its stake in shares of Canadian Natural Resources by 14.7% during the 1st quarter. Sei Investments Co. now owns 9,855 shares of the oil and gas producer’s stock worth $545,000 after acquiring an additional 1,260 shares in the last quarter. Wellington Management Group LLP boosted its stake in shares of Canadian Natural Resources by 19.5% during the 1st quarter. Wellington Management Group LLP now owns 8,557,179 shares of the oil and gas producer’s stock worth $473,626,000 after acquiring an additional 1,398,959 shares in the last quarter. Finally, Bowen Hanes & Co. Inc. boosted its stake in shares of Canadian Natural Resources by 2.3% during the 1st quarter. Bowen Hanes & Co. Inc. now owns 684,030 shares of the oil and gas producer’s stock worth $37,861,000 after acquiring an additional 15,615 shares in the last quarter. Institutional investors and hedge funds own 73.88% of the company’s stock.

Canadian Natural Resources Stock Up 0.7 %

Shares of Canadian Natural Resources stock opened at $65.35 on Wednesday. The company has a fifty day moving average price of $59.70 and a 200 day moving average price of $57.56. The company has a current ratio of 0.70, a quick ratio of 0.47 and a debt-to-equity ratio of 0.25. Canadian Natural Resources Limited has a twelve month low of $44.45 and a twelve month high of $65.83. The stock has a market cap of $71.29 billion, a price-to-earnings ratio of 12.84, a price-to-earnings-growth ratio of 11.77 and a beta of 1.58.

Canadian Natural Resources (NYSE:CNQ) (TSE:CNQ) last announced its quarterly earnings results on Thursday, August 3rd. The oil and gas producer reported $0.85 earnings per share for the quarter, missing analysts’ consensus estimates of $0.88 by ($0.03). Canadian Natural Resources had a return on equity of 22.86% and a net margin of 18.14%. The business had revenue of $5.87 billion for the quarter, compared to analysts’ expectations of $5.44 billion. Equities research analysts forecast that Canadian Natural Resources Limited will post 5.16 earnings per share for the current fiscal year.

Canadian Natural Resources Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 5th. Investors of record on Friday, September 15th will be given a dividend of $0.6744 per share. This represents a $2.70 dividend on an annualized basis and a yield of 4.13%. This is a boost from Canadian Natural Resources’s previous quarterly dividend of $0.66. The ex-dividend date of this dividend is Thursday, September 14th. Canadian Natural Resources’s dividend payout ratio is 52.06%.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the company. Jefferies Financial Group boosted their price target on Canadian Natural Resources from $84.00 to $94.00 and gave the stock a “hold” rating in a research note on Monday, August 28th. StockNews.com initiated coverage on Canadian Natural Resources in a research report on Thursday, August 17th. They set a “hold” rating for the company. Wells Fargo & Company lifted their price objective on Canadian Natural Resources from $80.00 to $85.00 and gave the stock an “equal weight” rating in a research report on Friday, August 4th. National Bank Financial downgraded Canadian Natural Resources from an “outperform” rating to a “sector perform” rating in a report on Friday, August 4th. Finally, CIBC boosted their price target on Canadian Natural Resources from $90.00 to $93.00 and gave the company an “outperformer” rating in a report on Tuesday, August 29th. Four research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, Canadian Natural Resources has an average rating of “Moderate Buy” and an average price target of $89.50.

About Canadian Natural Resources

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).