Ferguson Wellman Capital Management Inc. bought a new stake in Canadian Natural Resources Limited (NYSE:CNQ – Free Report) (TSE:CNQ) in the 1st quarter, Holdings Channel reports. The institutional investor bought 486,675 shares of the oil and gas producer’s stock, valued at approximately $23,716,000.
Several other large investors have also made changes to their positions in the company. Sunbelt Securities Inc. acquired a new position in Canadian Natural Resources during the fourth quarter valued at approximately $25,000. Manchester Capital Management LLC bought a new position in shares of Canadian Natural Resources in the 4th quarter valued at $28,000. Leonteq Securities AG bought a new position in shares of Canadian Natural Resources in the 4th quarter valued at $31,000. GoalVest Advisory LLC acquired a new position in shares of Canadian Natural Resources during the 4th quarter worth $32,000. Finally, Quarry LP acquired a new position in shares of Canadian Natural Resources during the 3rd quarter worth $32,000. Institutional investors and hedge funds own 74.03% of the company’s stock.
Canadian Natural Resources Price Performance
Shares of NYSE CNQ traded down $0.13 during mid-day trading on Friday, hitting $41.75. 8,711,117 shares of the stock traded hands, compared to its average volume of 9,797,030. The company has a market cap of $86.67 billion, a PE ratio of 12.46 and a beta of 0.47. Canadian Natural Resources Limited has a twelve month low of $29.30 and a twelve month high of $51.34. The company has a debt-to-equity ratio of 0.37, a current ratio of 0.98 and a quick ratio of 0.68. The firm has a 50 day simple moving average of $44.40 and a two-hundred day simple moving average of $42.43.
Canadian Natural Resources Dividend Announcement
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, July 7th. Investors of record on Tuesday, June 23rd were issued a $0.625 dividend. This represents a $2.50 dividend on an annualized basis and a yield of 6.0%. The ex-dividend date was Tuesday, June 23rd. Canadian Natural Resources’s dividend payout ratio (DPR) is 54.03%.
Wall Street Analysts Forecast Growth
CNQ has been the topic of several research analyst reports. Scotiabank raised Canadian Natural Resources to a “hold” rating in a research note on Friday, June 26th. Raymond James Financial raised shares of Canadian Natural Resources from a “market perform” rating to an “outperform” rating in a report on Thursday, May 7th. Zacks Research downgraded shares of Canadian Natural Resources from a “strong-buy” rating to a “hold” rating in a research note on Monday, June 8th. Finally, Weiss Ratings lowered shares of Canadian Natural Resources from a “buy (b)” rating to a “buy (b-)” rating in a report on Monday, May 11th. Six analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $57.00.
View Our Latest Stock Analysis on CNQ
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.
Featured Articles
- Five stocks we like better than Canadian Natural Resources
- Microsoft Bets on In-House AI to Cut OpenAI and Anthropic Costs
- Delta Air Lines Lives Up to Its Claims: Shares Can Keep Climbing
- This Dividend ETF Choice Could Shape Your Income Strategy Through 2026
- Why “Big Short” Investor Michael Burry Sees Upside in Beaten-Down Sportbook Stocks
Want to see what other hedge funds are holding CNQ? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Canadian Natural Resources Limited (NYSE:CNQ – Free Report) (TSE:CNQ).
Receive News & Ratings for Canadian Natural Resources Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Canadian Natural Resources and related companies with MarketBeat.com's FREE daily email newsletter.
