Institute for Wealth Management LLC. bought a new position in Canadian Natural Resources Limited (NYSE:CNQ - Free Report) TSE: CNQ during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 12,504 shares of the oil and gas producer's stock, valued at approximately $385,000.
Other institutional investors and hedge funds have also bought and sold shares of the company. FMR LLC lifted its position in shares of Canadian Natural Resources by 8.7% during the 4th quarter. FMR LLC now owns 92,550,104 shares of the oil and gas producer's stock valued at $2,857,337,000 after buying an additional 7,372,718 shares in the last quarter. Vanguard Group Inc. lifted its position in shares of Canadian Natural Resources by 0.5% during the 4th quarter. Vanguard Group Inc. now owns 90,002,235 shares of the oil and gas producer's stock valued at $2,778,729,000 after buying an additional 456,814 shares in the last quarter. Fisher Asset Management LLC lifted its position in shares of Canadian Natural Resources by 1.3% during the 4th quarter. Fisher Asset Management LLC now owns 44,131,266 shares of the oil and gas producer's stock valued at $1,362,332,000 after buying an additional 550,242 shares in the last quarter. Canada Pension Plan Investment Board lifted its position in shares of Canadian Natural Resources by 5.3% during the 4th quarter. Canada Pension Plan Investment Board now owns 36,963,702 shares of the oil and gas producer's stock valued at $1,139,753,000 after buying an additional 1,844,700 shares in the last quarter. Finally, T. Rowe Price Investment Management Inc. lifted its position in shares of Canadian Natural Resources by 7.3% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 34,052,775 shares of the oil and gas producer's stock valued at $1,051,210,000 after buying an additional 2,312,437 shares in the last quarter. 74.03% of the stock is owned by hedge funds and other institutional investors.
Canadian Natural Resources Price Performance
CNQ traded down $1.25 on Monday, hitting $32.13. 12,115,384 shares of the company's stock traded hands, compared to its average volume of 5,720,802. The company's 50 day simple moving average is $30.68 and its 200-day simple moving average is $30.30. The firm has a market cap of $67.21 billion, a price-to-earnings ratio of 12.60 and a beta of 1.03. Canadian Natural Resources Limited has a one year low of $24.65 and a one year high of $37.91. The company has a current ratio of 0.84, a quick ratio of 0.53 and a debt-to-equity ratio of 0.40.
Canadian Natural Resources (NYSE:CNQ - Get Free Report) TSE: CNQ last issued its earnings results on Thursday, May 8th. The oil and gas producer reported $0.81 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.73 by $0.08. The company had revenue of $6.96 billion for the quarter, compared to the consensus estimate of $10.14 billion. Canadian Natural Resources had a return on equity of 20.90% and a net margin of 16.92%. During the same quarter last year, the company earned $1.37 EPS. As a group, research analysts anticipate that Canadian Natural Resources Limited will post 2.45 EPS for the current year.
Canadian Natural Resources Increases Dividend
The company also recently disclosed 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 is an increase from Canadian Natural Resources's previous quarterly dividend of $0.41. The ex-dividend date of this dividend is Friday, June 13th. This represents a $1.69 dividend on an annualized basis and a yield of 5.26%. Canadian Natural Resources's payout ratio is presently 67.06%.
Wall Street Analyst Weigh In
A number of research analysts have recently weighed in on the company. Royal Bank Of Canada reaffirmed an "outperform" rating and set a $63.00 price objective on shares of Canadian Natural Resources in a research report on Thursday, March 27th. Scotiabank raised Canadian Natural Resources from a "sector perform" rating to a "sector outperform" rating in a research report on Wednesday, March 19th. Raymond James Financial raised Canadian Natural Resources from a "market perform" rating to an "outperform" rating in a research note on Wednesday, April 9th. Finally, Evercore ISI raised Canadian Natural Resources from an "in-line" rating to an "outperform" rating in a research note on Friday, March 7th. Three investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $63.00.
Read Our Latest Report on Canadian Natural Resources
Canadian Natural Resources Company Profile
(
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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