Vise Technologies Inc. increased its holdings in shares of Canadian Natural Resources Limited (NYSE:CNQ – Free Report) (TSE:CNQ) by 36.2% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 59,789 shares of the oil and gas producer’s stock after acquiring an additional 15,898 shares during the quarter. Vise Technologies Inc.’s holdings in Canadian Natural Resources were worth $2,024,000 as of its most recent SEC filing.
Several other hedge funds have also recently made changes to their positions in CNQ. Massachusetts Financial Services Co. MA raised its stake in shares of Canadian Natural Resources by 179.2% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 11,616,347 shares of the oil and gas producer’s stock valued at $393,213,000 after buying an additional 7,455,286 shares during the period. Vanguard Group Inc. raised its stake in shares of Canadian Natural Resources by 1.9% in the third quarter. Vanguard Group Inc. now owns 92,486,389 shares of the oil and gas producer’s stock valued at $2,957,252,000 after buying an additional 1,744,290 shares during the period. Bank of America Corp DE raised its stake in shares of Canadian Natural Resources by 17.6% in the third quarter. Bank of America Corp DE now owns 9,172,873 shares of the oil and gas producer’s stock valued at $293,165,000 after buying an additional 1,371,122 shares during the period. Geode Capital Management LLC raised its stake in shares of Canadian Natural Resources by 7.0% in the fourth quarter. Geode Capital Management LLC now owns 20,518,621 shares of the oil and gas producer’s stock valued at $710,119,000 after buying an additional 1,347,844 shares during the period. Finally, Fisher Asset Management LLC raised its stake in shares of Canadian Natural Resources by 3.2% in the fourth quarter. Fisher Asset Management LLC now owns 42,745,981 shares of the oil and gas producer’s stock valued at $1,446,951,000 after buying an additional 1,342,954 shares during the period. 74.03% of the stock is currently owned by institutional investors.
Wall Street Analyst Weigh In
Several analysts have issued reports on CNQ shares. Royal Bank Of Canada boosted their target price on Canadian Natural Resources from $61.00 to $65.00 and gave the company an “outperform” rating in a research note on Friday, March 6th. Raymond James Financial upgraded Canadian Natural Resources from a “market perform” rating to an “outperform” rating in a research note on Thursday, May 7th. Weiss Ratings lowered Canadian Natural Resources from a “buy (b)” rating to a “buy (b-)” rating in a research note on Monday, May 11th. Scotiabank restated an “outperform” rating on shares of Canadian Natural Resources in a research note on Wednesday, May 20th. Finally, Zacks Research upgraded Canadian Natural Resources from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, May 5th. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and four have issued a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $57.00.
Canadian Natural Resources Price Performance
Shares of NYSE CNQ opened at $45.74 on Monday. The stock has a market cap of $95.20 billion, a PE ratio of 13.65 and a beta of 0.45. Canadian Natural Resources Limited has a fifty-two week low of $29.30 and a fifty-two week high of $51.34. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.68 and a current ratio of 0.98. The stock has a fifty day moving average of $46.78 and a 200-day moving average of $41.01.
Canadian Natural Resources (NYSE:CNQ – Get Free Report) (TSE:CNQ) last announced its quarterly earnings results on Thursday, May 7th. The oil and gas producer reported $0.85 earnings per share for the quarter, beating the consensus estimate of $0.74 by $0.11. The company had revenue of $7.72 billion during the quarter, compared to analysts’ expectations of $7.57 billion. Canadian Natural Resources had a return on equity of 17.49% and a net margin of 22.04%.During the same period in the previous year, the business earned $1.16 earnings per share. Equities research analysts anticipate that Canadian Natural Resources Limited will post 4.2 earnings per share for the current year.
Canadian Natural Resources Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 7th. Stockholders of record on Tuesday, June 23rd will be given a $0.625 dividend. The ex-dividend date is Tuesday, June 23rd. This represents a $2.50 annualized dividend and a dividend yield of 5.5%. Canadian Natural Resources’s payout ratio is 54.63%.
About Canadian Natural Resources
Canadian Natural Resources Limited (NYSE: CNQ) is a Calgary-based independent oil and natural gas exploration and production company. Established in the early 1970s and publicly listed in Canada and the United States, the company is principally engaged in the exploration, development, production, and marketing of crude oil, natural gas and natural gas liquids. Its asset base spans conventional and unconventional reservoirs and includes oil sands mining and in-situ thermal projects, midstream processing and upgrading capacity, and related field operations.
The company’s operations are concentrated in Western Canada, where it develops heavy crude, bitumen from oil sands and conventional light crude and natural gas resources.
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