Farrow Financial Inc. Buys Shares of 68,860 Canadian Natural Resources Limited $CNQ

Key Points

• Farrow Financial Inc. bought a new stake of 68,860 shares in Canadian Natural Resources (CNQ) during the fourth quarter, valued at about $2.33 million.
• Canadian Natural raised its quarterly dividend to $0.625 (from $0.59), a $2.50 annualized payout that yields roughly 5.8% with a payout ratio near 49.6%.
• The firm beat last-quarter estimates with $0.59 EPS vs. $0.53 expected and $6.89 billion in revenue; analysts project ~2.45 EPS for the year and the stock carries a MarketBeat average target of $57 ("Moderate Buy").

Farrow Financial Inc. bought a new stake in Canadian Natural Resources Limited (NYSE:CNQ - Free Report) TSE: CNQ during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 68,860 shares of the oil and gas producer's stock, valued at approximately $2,331,000.

A number of other large investors also recently bought and sold shares of the stock. Tacita Capital Inc lifted its position in Canadian Natural Resources by 6.1% in the third quarter. Tacita Capital Inc now owns 5,753 shares of the oil and gas producer's stock valued at $184,000 after buying an additional 330 shares during the last quarter. Rathbones Group PLC lifted its position in Canadian Natural Resources by 1.3% in the fourth quarter. Rathbones Group PLC now owns 26,308 shares of the oil and gas producer's stock valued at $892,000 after buying an additional 350 shares during the last quarter. Frank Rimerman Advisors LLC lifted its position in Canadian Natural Resources by 2.2% in the third quarter. Frank Rimerman Advisors LLC now owns 17,886 shares of the oil and gas producer's stock valued at $572,000 after buying an additional 390 shares during the last quarter. PDS Planning Inc lifted its position in Canadian Natural Resources by 3.7% in the fourth quarter. PDS Planning Inc now owns 11,794 shares of the oil and gas producer's stock valued at $399,000 after buying an additional 420 shares during the last quarter. Finally, EverSource Wealth Advisors LLC lifted its position in Canadian Natural Resources by 9.4% in the third quarter. EverSource Wealth Advisors LLC now owns 4,939 shares of the oil and gas producer's stock valued at $158,000 after buying an additional 426 shares during the last quarter. Institutional investors and hedge funds own 74.03% of the company's stock.

Canadian Natural Resources Trading Down 7.3%

NYSE CNQ opened at $42.93 on Friday. The firm has a 50 day simple moving average of $45.54 and a 200-day simple moving average of $37.51. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.63 and a current ratio of 0.95. Canadian Natural Resources Limited has a one year low of $27.93 and a one year high of $51.34. The firm has a market cap of $89.55 billion, a price-to-earnings ratio of 11.63 and a beta of 0.53.

Canadian Natural Resources (NYSE:CNQ - Get Free Report) TSE: CNQ last posted its quarterly earnings data on Thursday, March 5th. The oil and gas producer reported $0.59 EPS for the quarter, beating the consensus estimate of $0.53 by $0.06. Canadian Natural Resources had a net margin of 24.48% and a return on equity of 17.84%. The business had revenue of $6.89 billion during the quarter, compared to analyst estimates of $6.64 billion. During the same quarter last year, the firm posted $0.93 earnings per share. Equities research analysts anticipate that Canadian Natural Resources Limited will post 2.45 EPS for the current fiscal year.

Canadian Natural Resources Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, April 7th. Stockholders of record on Friday, March 20th were paid a $0.625 dividend. The ex-dividend date of this dividend was Friday, March 20th. This is a positive change from Canadian Natural Resources's previous quarterly dividend of $0.59. This represents a $2.50 annualized dividend and a dividend yield of 5.8%. Canadian Natural Resources's payout ratio is 49.59%.

Wall Street Analyst Weigh In

A number of research analysts have commented on CNQ shares. Weiss Ratings raised shares of Canadian Natural Resources from a "hold (c+)" rating to a "buy (b)" rating in a research report on Friday, March 27th. The Goldman Sachs Group upped their target price on shares of Canadian Natural Resources from $37.00 to $49.00 and gave the company a "buy" rating in a research report on Thursday, March 12th. Zacks Research raised shares of Canadian Natural Resources from a "strong sell" rating to a "hold" rating in a research report on Monday, April 6th. Evercore lowered shares of Canadian Natural Resources from an "outperform" rating to an "in-line" rating in a research note on Tuesday, January 6th. Finally, Raymond James Financial lowered shares of Canadian Natural Resources from a "moderate buy" rating to a "hold" rating in a research note on Monday, March 30th. Six research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $57.00.

About Canadian Natural Resources

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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