GeoSphere Capital Management LLC decreased its position in shares of Canadian Natural Resources Limited (NYSE:CNQ - Free Report) TSE: CNQ by 58.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 70,000 shares of the oil and gas producer's stock after selling 100,000 shares during the quarter. Canadian Natural Resources comprises about 1.0% of GeoSphere Capital Management LLC's investment portfolio, making the stock its 20th largest holding. GeoSphere Capital Management LLC's holdings in Canadian Natural Resources were worth $2,161,000 at the end of the most recent reporting period.
Other institutional investors have also modified their holdings of the company. Duncker Streett & Co. Inc. acquired a new position in Canadian Natural Resources during the 4th quarter valued at about $25,000. Lee Danner & Bass Inc. acquired a new position in shares of Canadian Natural Resources during the fourth quarter worth approximately $25,000. Sandy Spring Bank bought a new position in Canadian Natural Resources in the 4th quarter worth approximately $31,000. CoreFirst Bank & Trust bought a new position in Canadian Natural Resources in the 4th quarter worth approximately $31,000. Finally, Hurley Capital LLC bought a new stake in Canadian Natural Resources during the 4th quarter valued at $31,000. Institutional investors own 74.03% of the company's stock.
Wall Street Analyst Weigh In
Several research firms have recently issued reports on CNQ. Tudor Pickering cut Canadian Natural Resources from a "strong-buy" rating to a "hold" rating in a research note on Monday, February 10th. Raymond James upgraded shares of Canadian Natural Resources from a "market perform" rating to an "outperform" rating in a research report on Wednesday, April 9th. Royal Bank of Canada restated an "outperform" rating and set a $63.00 price target on shares of Canadian Natural Resources in a research report on Thursday, March 27th. Scotiabank upgraded shares of Canadian Natural Resources from a "sector perform" rating to a "sector outperform" rating in a report on Wednesday, March 19th. Finally, Evercore ISI raised Canadian Natural Resources from an "in-line" rating to an "outperform" rating in a report on Friday, March 7th. Three research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $63.00.
View Our Latest Research Report on Canadian Natural Resources
Canadian Natural Resources Price Performance
Shares of Canadian Natural Resources stock opened at $30.53 on Friday. Canadian Natural Resources Limited has a 52 week low of $24.65 and a 52 week high of $39.20. The company has a current ratio of 0.84, a quick ratio of 0.53 and a debt-to-equity ratio of 0.21. The stock has a market cap of $64.04 billion, a PE ratio of 11.86 and a beta of 1.04. The company's 50-day moving average price is $28.98 and its two-hundred day moving average price is $30.84.
Canadian Natural Resources (NYSE:CNQ - Get Free Report) TSE: CNQ last released its earnings results on Thursday, May 8th. The oil and gas producer reported $0.81 EPS for the quarter, topping analysts' consensus estimates of $0.73 by $0.08. The business had revenue of $6.96 billion for the quarter, compared to the consensus estimate of $10.14 billion. Canadian Natural Resources had a net margin of 18.45% and a return on equity of 20.07%. During the same period in the previous year, the firm earned $1.37 EPS. As a group, sell-side analysts anticipate that Canadian Natural Resources Limited will post 2.45 EPS for the current fiscal year.
Canadian Natural Resources Increases Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 3rd. Shareholders of record on Friday, June 13th will be issued a dividend of $0.4227 per share. This represents a $1.69 annualized dividend and a yield of 5.54%. The ex-dividend date of this dividend is Friday, June 13th. This is an increase from Canadian Natural Resources's previous quarterly dividend of $0.41. Canadian Natural Resources's payout ratio is presently 77.88%.
Canadian Natural Resources Company Profile
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Free Report)
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).
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