Dixon Mitchell Investment Counsel Inc. Has $64.63 Million Stake in Canadian Natural Resources Limited (NYSE:CNQ)

Dixon Mitchell Investment Counsel Inc. grew its stake in Canadian Natural Resources Limited (NYSE:CNQ) (TSE:CNQ) by 4.8% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,922,017 shares of the oil and gas producer’s stock after purchasing an additional 88,592 shares during the period. Canadian Natural Resources comprises approximately 2.9% of Dixon Mitchell Investment Counsel Inc.’s investment portfolio, making the stock its 12th largest position. Dixon Mitchell Investment Counsel Inc. owned 0.09% of Canadian Natural Resources worth $64,633,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. PNC Financial Services Group Inc. boosted its holdings in shares of Canadian Natural Resources by 137.8% during the 4th quarter. PNC Financial Services Group Inc. now owns 39,418 shares of the oil and gas producer’s stock valued at $2,583,000 after acquiring an additional 22,839 shares in the last quarter. First Hawaiian Bank boosted its stake in shares of Canadian Natural Resources by 12.8% during the first quarter. First Hawaiian Bank now owns 6,989 shares of the oil and gas producer’s stock valued at $533,000 after purchasing an additional 792 shares in the last quarter. Park Avenue Securities LLC grew its holdings in shares of Canadian Natural Resources by 15.2% during the first quarter. Park Avenue Securities LLC now owns 19,855 shares of the oil and gas producer’s stock worth $1,515,000 after purchasing an additional 2,626 shares during the last quarter. Gulf International Bank UK Ltd increased its stake in shares of Canadian Natural Resources by 4.4% in the first quarter. Gulf International Bank UK Ltd now owns 10,729 shares of the oil and gas producer’s stock valued at $818,000 after buying an additional 452 shares during the period. Finally, Lane & Associates LLC bought a new position in Canadian Natural Resources in the 1st quarter valued at approximately $261,000. 74.03% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the stock. StockNews.com cut shares of Canadian Natural Resources from a “buy” rating to a “hold” rating in a research report on Friday, August 23rd. Desjardins raised Canadian Natural Resources from a “hold” rating to a “moderate buy” rating in a research report on Tuesday, October 8th. Finally, Wolfe Research initiated coverage on Canadian Natural Resources in a report on Thursday, July 18th. They set a “peer perform” rating on the stock. Five research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $49.50.

Canadian Natural Resources Stock Performance

Shares of CNQ opened at $35.55 on Friday. The company has a current ratio of 0.88, a quick ratio of 0.59 and a debt-to-equity ratio of 0.24. The firm’s fifty day simple moving average is $35.00 and its two-hundred day simple moving average is $36.18. Canadian Natural Resources Limited has a 12 month low of $29.45 and a 12 month high of $41.29. The stock has a market capitalization of $75.65 billion, a P/E ratio of 14.16 and a beta of 1.50.

Canadian Natural Resources (NYSE:CNQ) (TSE:CNQ) last announced its earnings results on Thursday, August 1st. The oil and gas producer reported $0.88 EPS for the quarter, beating the consensus estimate of $0.62 by $0.26. The company had revenue of $7.76 billion for the quarter, compared to analyst estimates of $6.19 billion. Canadian Natural Resources had a return on equity of 22.09% and a net margin of 18.05%. During the same quarter in the prior year, the company earned $0.43 EPS. As a group, analysts predict that Canadian Natural Resources Limited will post 2.5 EPS for the current year.

Canadian Natural Resources Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 3rd. Stockholders of record on Friday, December 13th will be given a dividend of $0.388 per share. This is an increase from Canadian Natural Resources’s previous quarterly dividend of $0.38. The ex-dividend date is Friday, December 13th. This represents a $1.55 annualized dividend and a dividend yield of 4.37%. Canadian Natural Resources’s dividend payout ratio (DPR) is 66.14%.

Canadian Natural Resources Company 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).