Goehring & Rozencwajg Associates LLC increased its holdings in shares of Canadian Natural Resources Limited (NYSE:CNQ – Free Report) (TSE:CNQ) by 89.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,902,413 shares of the oil and gas producer’s stock after buying an additional 897,432 shares during the period. Canadian Natural Resources comprises approximately 6.2% of Goehring & Rozencwajg Associates LLC’s investment portfolio, making the stock its 3rd largest holding. Goehring & Rozencwajg Associates LLC’s holdings in Canadian Natural Resources were worth $64,444,000 as of its most recent SEC filing.
Other hedge funds have also recently added to or reduced their stakes in the company. AQR Capital Management LLC lifted its holdings in Canadian Natural Resources by 85.5% in the 1st quarter. AQR Capital Management LLC now owns 18,090 shares of the oil and gas producer’s stock valued at $557,000 after purchasing an additional 8,336 shares in the last quarter. Jones Financial Companies Lllp lifted its holdings in Canadian Natural Resources by 92.7% in the 1st quarter. Jones Financial Companies Lllp now owns 29,096 shares of the oil and gas producer’s stock valued at $896,000 after purchasing an additional 13,996 shares in the last quarter. Empowered Funds LLC lifted its holdings in Canadian Natural Resources by 4.3% in the 1st quarter. Empowered Funds LLC now owns 79,374 shares of the oil and gas producer’s stock valued at $2,445,000 after purchasing an additional 3,266 shares in the last quarter. Geneos Wealth Management Inc. lifted its holdings in Canadian Natural Resources by 47.3% in the 1st quarter. Geneos Wealth Management Inc. now owns 1,644 shares of the oil and gas producer’s stock valued at $51,000 after purchasing an additional 528 shares in the last quarter. Finally, EverSource Wealth Advisors LLC lifted its holdings in Canadian Natural Resources by 65.5% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 4,513 shares of the oil and gas producer’s stock valued at $142,000 after purchasing an additional 1,786 shares in the last quarter. 74.03% of the stock is owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
A number of research analysts have weighed in on the company. Weiss Ratings lowered Canadian Natural Resources from a “buy (b)” rating to a “buy (b-)” rating in a report on Monday, May 11th. The Goldman Sachs Group raised their price objective on Canadian Natural Resources from $37.00 to $49.00 and gave the company a “buy” rating in a report on Thursday, March 12th. Scotiabank restated an “outperform” rating on shares of Canadian Natural Resources in a report on Wednesday, May 20th. Royal Bank Of Canada raised their price objective on Canadian Natural Resources from $61.00 to $65.00 and gave the company an “outperform” rating in a report on Friday, March 6th. Finally, ATB Cormark Capital Markets lowered Canadian Natural Resources from a “strong-buy” rating to a “moderate buy” rating in a report on Thursday, March 5th. Seven analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $57.00.
Canadian Natural Resources Stock Down 0.3%
Shares of CNQ opened at $45.32 on Friday. Canadian Natural Resources Limited has a 52-week low of $29.30 and a 52-week high of $51.34. The company has a market capitalization of $94.33 billion, a PE ratio of 13.53 and a beta of 0.45. The stock has a fifty day simple moving average of $46.46 and a two-hundred day simple moving average of $41.37. The company has a quick ratio of 0.68, a current ratio of 0.98 and a debt-to-equity ratio of 0.37.
Canadian Natural Resources (NYSE:CNQ – Get Free Report) (TSE:CNQ) last issued its earnings results on Thursday, May 7th. The oil and gas producer reported $0.85 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.74 by $0.11. Canadian Natural Resources had a return on equity of 17.49% and a net margin of 22.04%.The business had revenue of $7.72 billion during the quarter, compared to the consensus estimate of $7.57 billion. During the same period last year, the company earned $1.16 EPS. As a group, equities analysts forecast that Canadian Natural Resources Limited will post 4.2 EPS for the current year.
Canadian Natural Resources Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 7th. Shareholders of record on Tuesday, June 23rd will be paid a $0.625 dividend. The ex-dividend date of this dividend is Tuesday, June 23rd. This represents a $2.50 dividend on an annualized basis and a dividend yield of 5.5%. Canadian Natural Resources’s dividend payout ratio (DPR) is 54.63%.
Canadian Natural Resources Profile
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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