Investec Asset Management LTD decreased its position in Canadian Natural Resources Ltd (NYSE:CNQ) (TSE:CNQ) by 27.8% in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 648,507 shares of the oil and gas producer’s stock after selling 249,753 shares during the period. Investec Asset Management LTD owned about 0.05% of Canadian Natural Resources worth $25,497,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Dimensional Fund Advisors LP increased its stake in shares of Canadian Natural Resources by 33.3% during the fourth quarter. Dimensional Fund Advisors LP now owns 6,046,432 shares of the oil and gas producer’s stock worth $145,900,000 after purchasing an additional 1,508,995 shares in the last quarter. Geode Capital Management LLC boosted its position in Canadian Natural Resources by 23.7% during the fourth quarter. Geode Capital Management LLC now owns 11,718 shares of the oil and gas producer’s stock worth $282,000 after acquiring an additional 2,242 shares during the last quarter. Macquarie Group Ltd. boosted its position in Canadian Natural Resources by 5.4% during the fourth quarter. Macquarie Group Ltd. now owns 35,840 shares of the oil and gas producer’s stock worth $865,000 after acquiring an additional 1,840 shares during the last quarter. Scout Investments Inc. acquired a new position in Canadian Natural Resources during the first quarter worth about $216,000. Finally, DORCHESTER WEALTH MANAGEMENT Co boosted its position in Canadian Natural Resources by 4.0% during the first quarter. DORCHESTER WEALTH MANAGEMENT Co now owns 218,843 shares of the oil and gas producer’s stock worth $6,009,000 after acquiring an additional 8,398 shares during the last quarter. 65.83% of the stock is owned by institutional investors.
A number of equities analysts recently weighed in on CNQ shares. CIBC restated a “buy” rating and set a $48.00 price target on shares of Canadian Natural Resources in a research report on Sunday, August 4th. Zacks Investment Research lowered shares of Canadian Natural Resources from a “buy” rating to a “hold” rating and set a $28.00 target price on the stock. in a report on Monday, July 22nd. Royal Bank of Canada reiterated an “average” rating and issued a $45.00 target price on shares of Canadian Natural Resources in a report on Friday, May 10th. Canaccord Genuity reiterated a “buy” rating and issued a $53.00 target price on shares of Canadian Natural Resources in a report on Tuesday, July 9th. Finally, Goldman Sachs Group restated a “neutral” rating on shares of Canadian Natural Resources in a report on Monday, July 22nd. Six investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus price target of $41.88.
Shares of CNQ opened at $22.74 on Monday. Canadian Natural Resources Ltd has a fifty-two week low of $21.85 and a fifty-two week high of $35.95. The firm’s 50 day moving average price is $25.08 and its 200 day moving average price is $27.13. The company has a market cap of $27.99 billion, a P/E ratio of 10.58, a PEG ratio of 1.37 and a beta of 1.13. The company has a quick ratio of 0.44, a current ratio of 0.59 and a debt-to-equity ratio of 0.57.
Canadian Natural Resources (NYSE:CNQ) (TSE:CNQ) last announced its earnings results on Thursday, August 1st. The oil and gas producer reported $0.87 earnings per share for the quarter, topping the consensus estimate of $0.62 by $0.25. Canadian Natural Resources had a net margin of 22.22% and a return on equity of 8.62%. The firm had revenue of $4.16 billion for the quarter, compared to the consensus estimate of $4.36 billion. During the same period in the prior year, the firm earned $1.04 EPS. Research analysts forecast that Canadian Natural Resources Ltd will post 2.41 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Friday, September 13th will be paid a dividend of $0.284 per share. This is an increase from Canadian Natural Resources’s previous quarterly dividend of $0.28. This represents a $1.14 annualized dividend and a yield of 5.00%. The ex-dividend date is Thursday, September 12th. Canadian Natural Resources’s dividend payout ratio is presently 51.63%.
Canadian Natural Resources Company Profile
Canadian Natural Resources Limited explores for, develops, produces, and markets crude oil, natural gas, and natural gas liquids (NGLs). The company offers synthetic crude oil (SCO), light and medium crude oil, bitumen (thermal oil), primary heavy crude oil, and Pelican Lake heavy crude oil. Its midstream assets include two crude oil pipeline systems; and a 50% working interest in an 84-megawatt cogeneration plant at Primrose.
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