Canadian Natural Resources Limited (NYSE:CNQ) Stock Position Lifted by Cumberland Partners Ltd

Cumberland Partners Ltd boosted its stake in shares of Canadian Natural Resources Limited (NYSE:CNQ) (TSE:CNQ) by 8.4% during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 110,877 shares of the oil and gas producer’s stock after purchasing an additional 8,620 shares during the period. Cumberland Partners Ltd’s holdings in Canadian Natural Resources were worth $7,268,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in CNQ. Vontobel Holding Ltd. purchased a new position in Canadian Natural Resources during the third quarter valued at approximately $494,000. CWM LLC grew its position in Canadian Natural Resources by 52.0% during the third quarter. CWM LLC now owns 2,559 shares of the oil and gas producer’s stock valued at $165,000 after purchasing an additional 875 shares in the last quarter. SG Americas Securities LLC grew its position in Canadian Natural Resources by 5.0% during the third quarter. SG Americas Securities LLC now owns 40,333 shares of the oil and gas producer’s stock valued at $2,619,000 after purchasing an additional 1,938 shares in the last quarter. Baskin Financial Services Inc. grew its position in Canadian Natural Resources by 0.4% during the third quarter. Baskin Financial Services Inc. now owns 448,741 shares of the oil and gas producer’s stock valued at $29,015,000 after purchasing an additional 1,732 shares in the last quarter. Finally, Washington Trust Advisors Inc. grew its position in Canadian Natural Resources by 238.1% in the third quarter. Washington Trust Advisors Inc. now owns 1,136 shares of the oil and gas producer’s stock worth $73,000 after acquiring an additional 800 shares in the last quarter. 74.03% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have commented on the stock. JPMorgan Chase & Co. boosted 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. Desjardins downgraded shares of Canadian Natural Resources from a “buy” rating to a “hold” rating in a research report on Tuesday. Six research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat.com, Canadian Natural Resources presently has an average rating of “Hold” and an average price target of $94.00.

Canadian Natural Resources Stock Performance

Shares of Canadian Natural Resources stock traded up $0.31 on Tuesday, reaching $77.08. The stock had a trading volume of 3,421,367 shares, compared to its average volume of 3,337,046. The business’s 50-day moving average price is $73.20 and its two-hundred day moving average price is $67.55. 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 fifty-two week low of $52.66 and a fifty-two week high of $82.58. The stock has a market cap of $82.64 billion, a P/E ratio of 13.91 and a beta of 1.54.

Canadian Natural Resources (NYSE:CNQ) (TSE:CNQ) last released its earnings results on Thursday, February 29th. The oil and gas producer reported $1.72 EPS for the quarter, beating the consensus estimate of $1.59 by $0.13. The firm had revenue of $7.02 billion during the quarter, compared to analysts’ expectations of $6.73 billion. Canadian Natural Resources had a net margin of 20.15% and a return on equity of 21.74%. On average, sell-side analysts forecast that Canadian Natural Resources Limited will post 5.7 EPS for the current year.

Canadian Natural Resources Increases Dividend

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

Canadian Natural Resources 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).