Peterson Wealth Services increased its position in Canadian Natural Resources Limited (NYSE:CNQ – Free Report) (TSE:CNQ) by 593,340.6% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 189,901 shares of the oil and gas producer’s stock after purchasing an additional 189,869 shares during the period. Canadian Natural Resources accounts for about 1.6% of Peterson Wealth Services’ investment portfolio, making the stock its 16th biggest holding. Peterson Wealth Services’ holdings in Canadian Natural Resources were worth $6,428,000 at the end of the most recent reporting period.
A number of other hedge funds have also bought and sold shares of the company. Burkett Asset Management Ltd acquired a new position in Canadian Natural Resources in the fourth quarter worth about $4,022,000. UniSuper Management Pty Ltd grew its stake in Canadian Natural Resources by 13.4% in the fourth quarter. UniSuper Management Pty Ltd now owns 40,700 shares of the oil and gas producer’s stock worth $1,378,000 after purchasing an additional 4,800 shares in the last quarter. Canopy Partners LLC acquired a new position in Canadian Natural Resources in the fourth quarter worth about $214,000. Empowered Funds LLC grew its stake in Canadian Natural Resources by 16.5% in the fourth quarter. Empowered Funds LLC now owns 90,597 shares of the oil and gas producer’s stock worth $3,067,000 after purchasing an additional 12,799 shares in the last quarter. Finally, Mitchell Mcleod Pugh & Williams Inc. acquired a new position in Canadian Natural Resources in the fourth quarter worth about $239,000. 74.03% of the stock is currently owned by institutional investors and hedge funds.
Canadian Natural Resources Stock Performance
Shares of CNQ stock opened at $45.47 on Friday. The company has a quick ratio of 0.68, a current ratio of 0.98 and a debt-to-equity ratio of 0.37. The business has a 50 day moving average of $46.48 and a two-hundred day moving average of $41.34. 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 cap of $94.64 billion, a P/E ratio of 13.57 and a beta of 0.45.
Canadian Natural Resources Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 7th. Stockholders of record on Tuesday, June 23rd will be given a dividend of $0.625 per share. 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 currently 54.03%.
Analysts Set New Price Targets
CNQ has been the subject of a number of research reports. Weiss Ratings downgraded Canadian Natural Resources from a “buy (b)” rating to a “buy (b-)” rating in a research note on Monday, May 11th. The Goldman Sachs Group lifted their target price on Canadian Natural Resources from $37.00 to $49.00 and gave the company a “buy” rating in a research note on Thursday, March 12th. Royal Bank Of Canada lifted 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. Scotiabank restated an “outperform” rating on shares of Canadian Natural Resources in a research note on Wednesday, May 20th. Finally, ATB Cormark Capital Markets downgraded Canadian Natural Resources from a “strong-buy” rating to a “moderate buy” rating in a research note on Thursday, March 5th. Seven research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $57.00.
Check Out Our Latest Research Report on Canadian Natural Resources
Canadian Natural Resources Company 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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