Canadian Natural Resources Limited (NYSE:CNQ) Shares Acquired by Financial Perspectives Inc

Financial Perspectives Inc boosted its holdings in shares of Canadian Natural Resources Limited (NYSE:CNQ) (TSE:CNQ) by 92.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 5,797 shares of the oil and gas producer’s stock after acquiring an additional 2,779 shares during the quarter. Financial Perspectives Inc’s holdings in Canadian Natural Resources were worth $380,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Healthcare of Ontario Pension Plan Trust Fund boosted its stake in shares of Canadian Natural Resources by 43.2% in the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 7,640,000 shares of the oil and gas producer’s stock valued at $494,262,000 after purchasing an additional 2,305,000 shares during the period. WCM Investment Management LLC lifted its stake in Canadian Natural Resources by 9,297.9% in the fourth quarter. WCM Investment Management LLC now owns 2,192,895 shares of the oil and gas producer’s stock valued at $143,284,000 after buying an additional 2,169,561 shares during the last quarter. Morgan Stanley boosted its stake in Canadian Natural Resources by 33.4% during the 3rd quarter. Morgan Stanley now owns 7,311,061 shares of the oil and gas producer’s stock worth $472,806,000 after purchasing an additional 1,831,015 shares during the period. The Manufacturers Life Insurance Company grew its holdings in shares of Canadian Natural Resources by 15.8% during the third quarter. The Manufacturers Life Insurance Company now owns 12,852,785 shares of the oil and gas producer’s stock worth $837,145,000 after buying an additional 1,750,013 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. increased its holdings in shares of Canadian Natural Resources by 32.5% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 7,066,855 shares of the oil and gas producer’s stock valued at $456,999,000 after purchasing an additional 1,733,988 shares during the period. Hedge funds and other institutional investors own 74.03% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on CNQ. Desjardins lowered shares of Canadian Natural Resources from a “buy” rating to a “hold” rating in a research note on Tuesday. JPMorgan Chase & Co. upped their target price on shares of Canadian Natural Resources from $101.00 to $102.00 and gave the stock a “neutral” rating in a research report on Thursday, January 11th. Six research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $94.00.

Canadian Natural Resources Price Performance

CNQ stock traded up $0.31 on Tuesday, reaching $77.08. The company had a trading volume of 3,421,367 shares, compared to its average volume of 3,337,046. The company’s fifty day moving average is $72.85 and its 200 day moving average is $67.44. The company has a market cap of $82.64 billion, a P/E ratio of 13.86 and a beta of 1.54. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.69 and a current ratio of 0.96. Canadian Natural Resources Limited has a 1 year low of $52.66 and a 1 year high of $82.58.

Canadian Natural Resources (NYSE:CNQ) (TSE:CNQ) last posted its quarterly earnings data on Thursday, February 29th. The oil and gas producer reported $1.72 earnings per share for the quarter, beating analysts’ consensus estimates of $1.59 by $0.13. Canadian Natural Resources had a net margin of 20.15% and a return on equity of 21.74%. The business had revenue of $7.02 billion during the quarter, compared to analyst estimates of $6.73 billion. On average, research analysts forecast that Canadian Natural Resources Limited will post 5.7 earnings per share for the current year.

Canadian Natural Resources Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, April 5th. Stockholders of record on Friday, March 15th were issued a dividend of $0.774 per share. This is a boost from Canadian Natural Resources’s previous quarterly dividend of $0.72. The ex-dividend date was Thursday, March 14th. This represents a $3.10 annualized dividend and a dividend yield of 4.02%. Canadian Natural Resources’s dividend payout ratio (DPR) is 53.25%.

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).