Canadian Natural Resources Limited (NYSE:CNQ) Shares Purchased by Waterfront Wealth Inc.

Waterfront Wealth Inc. increased its holdings in shares of Canadian Natural Resources Limited (NYSE:CNQ) (TSE:CNQ) by 2.4% during the 4th quarter, Holdings Channel reports. The institutional investor owned 13,345 shares of the oil and gas producer’s stock after purchasing an additional 308 shares during the period. Waterfront Wealth Inc.’s holdings in Canadian Natural Resources were worth $874,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Money Concepts Capital Corp purchased a new stake in shares of Canadian Natural Resources during the fourth quarter worth about $25,000. Central Bank & Trust Co. acquired a new stake in Canadian Natural Resources in the 4th quarter worth approximately $26,000. Captrust Financial Advisors grew its position in Canadian Natural Resources by 57.6% during the 2nd quarter. Captrust Financial Advisors now owns 594 shares of the oil and gas producer’s stock worth $32,000 after purchasing an additional 217 shares during the last quarter. Fortis Capital Advisors LLC acquired a new position in Canadian Natural Resources during the 1st quarter valued at approximately $35,000. Finally, Janiczek Wealth Management LLC increased its stake in Canadian Natural Resources by 39.7% during the 4th quarter. Janiczek Wealth Management LLC now owns 609 shares of the oil and gas producer’s stock valued at $40,000 after purchasing an additional 173 shares in the last quarter. 74.03% of the stock is owned by institutional investors and hedge funds.

Canadian Natural Resources Stock Performance

CNQ traded up $0.12 during trading on Thursday, reaching $77.34. 205,965 shares of the company’s stock were exchanged, compared to its average volume of 3,295,464. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.96 and a quick ratio of 0.69. Canadian Natural Resources Limited has a 1 year low of $52.66 and a 1 year high of $82.58. The company’s fifty day simple moving average is $71.89 and its 200-day simple moving average is $67.09. The stock has a market capitalization of $82.92 billion, a P/E ratio of 13.93 and a beta of 1.54.

Canadian Natural Resources (NYSE:CNQ) (TSE:CNQ) last released its quarterly earnings data on Thursday, February 29th. The oil and gas producer reported $1.72 earnings per share for the quarter, topping analysts’ consensus estimates of $1.59 by $0.13. The firm had revenue of $7.02 billion for the quarter, compared to analyst estimates of $6.73 billion. Canadian Natural Resources had a net margin of 20.15% and a return on equity of 21.74%. As a group, research analysts predict that Canadian Natural Resources Limited will post 5.67 earnings per share for the current fiscal year.

Canadian Natural Resources Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, April 5th. Shareholders of record on Friday, March 15th were paid a dividend of $0.774 per share. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $3.10 dividend on an annualized basis and a dividend yield of 4.00%. This is a positive change from Canadian Natural Resources’s previous quarterly dividend of $0.72. Canadian Natural Resources’s dividend payout ratio (DPR) is presently 53.25%.

Analyst Upgrades and Downgrades

Separately, JPMorgan Chase & Co. boosted their price objective on shares of Canadian Natural Resources from $101.00 to $102.00 and gave the company a “neutral” rating in a report on Thursday, January 11th. Five research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target 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).