Cary Street Partners Financial LLC Makes New Investment in Canadian Natural Resources Limited (NYSE:CNQ)

Cary Street Partners Financial LLC bought a new position in shares of Canadian Natural Resources Limited (NYSE:CNQ - Free Report) TSE: CNQ in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 11,862 shares of the oil and gas producer's stock, valued at approximately $366,000.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Duncker Streett & Co. Inc. acquired a new position in shares of Canadian Natural Resources in the 4th quarter valued at about $25,000. Lee Danner & Bass Inc. acquired a new stake in shares of Canadian Natural Resources during the 4th quarter worth approximately $25,000. Hurley Capital LLC bought a new stake in shares of Canadian Natural Resources in the 4th quarter valued at $31,000. Sandy Spring Bank acquired a new position in shares of Canadian Natural Resources during the 4th quarter valued at $31,000. Finally, CoreFirst Bank & Trust bought a new position in Canadian Natural Resources during the fourth quarter worth $31,000. Institutional investors and hedge funds own 74.03% of the company's stock.

Canadian Natural Resources Trading Up 1.6 %

Shares of CNQ 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 50-day simple moving average of $28.98 and a two-hundred day simple moving average of $30.84. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.53 and a current ratio of 0.84. The company has a market capitalization of $64.04 billion, a price-to-earnings ratio of 11.86 and a beta of 1.04.

Canadian Natural Resources (NYSE:CNQ - Get Free Report) TSE: CNQ last posted its quarterly earnings data on Thursday, May 8th. The oil and gas producer reported $0.81 earnings per share for the quarter, topping the consensus estimate of $0.73 by $0.08. The business had revenue of $6.96 billion for the quarter, compared to analysts' expectations of $10.14 billion. Canadian Natural Resources had a return on equity of 20.07% and a net margin of 18.45%. During the same quarter in the previous year, the firm earned $1.37 earnings per share. Research 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 announced a quarterly dividend, which will be paid on Thursday, July 3rd. Shareholders of record on Friday, June 13th will be paid a $0.4227 dividend. This represents a $1.69 dividend on an annualized basis and a yield of 5.54%. This is a boost from Canadian Natural Resources's previous quarterly dividend of $0.41. The ex-dividend date of this dividend is Friday, June 13th. Canadian Natural Resources's payout ratio is presently 77.88%.

Analysts Set New Price Targets

Several research analysts have issued reports on the company. Tudor Pickering lowered Canadian Natural Resources from a "strong-buy" rating to a "hold" rating in a report on Monday, February 10th. Evercore ISI raised shares of Canadian Natural Resources from an "in-line" rating to an "outperform" rating in a research report on Friday, March 7th. Scotiabank upgraded shares of Canadian Natural Resources from a "sector perform" rating to a "sector outperform" rating in a report on Wednesday, March 19th. Royal Bank of Canada restated an "outperform" rating and issued a $63.00 target price on shares of Canadian Natural Resources in a report on Thursday, March 27th. Finally, Raymond James upgraded Canadian Natural Resources from a "market perform" rating to an "outperform" rating in a research note on Wednesday, April 9th. Three investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $63.00.

About Canadian Natural Resources

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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