FCG Investment Co Purchases Shares of 13,010 Canadian Natural Resources Limited $CNQ

Key Points

• FCG Investment Co acquired 13,010 shares of Canadian Natural Resources Limited, valued at approximately $409,000, during the second quarter of the year.
• The company has recently increased its quarterly dividend to $0.4269 per share, representing a 5.3% yield and a positive adjustment from its previous dividend of $0.42.
• Research firms have maintained a mostly positive outlook on the stock, with a consensus rating of "Moderate Buy" and a price target of $62.00.

FCG Investment Co purchased a new stake in shares of Canadian Natural Resources Limited (NYSE:CNQ - Free Report) TSE: CNQ during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 13,010 shares of the oil and gas producer's stock, valued at approximately $409,000.

A number of other large investors have also added to or reduced their stakes in CNQ. Goldman Sachs Group Inc. raised its position in Canadian Natural Resources by 240.8% during the first quarter. Goldman Sachs Group Inc. now owns 22,776,594 shares of the oil and gas producer's stock valued at $701,519,000 after purchasing an additional 16,094,168 shares in the last quarter. Bank of Nova Scotia increased its holdings in shares of Canadian Natural Resources by 86.6% in the first quarter. Bank of Nova Scotia now owns 24,262,707 shares of the oil and gas producer's stock worth $746,675,000 after buying an additional 11,259,267 shares during the period. T. Rowe Price Investment Management Inc. increased its holdings in shares of Canadian Natural Resources by 29.1% in the first quarter. T. Rowe Price Investment Management Inc. now owns 43,968,120 shares of the oil and gas producer's stock worth $1,354,219,000 after buying an additional 9,915,345 shares during the period. Canada Pension Plan Investment Board increased its holdings in shares of Canadian Natural Resources by 13.0% in the first quarter. Canada Pension Plan Investment Board now owns 41,769,153 shares of the oil and gas producer's stock worth $1,285,464,000 after buying an additional 4,805,451 shares during the period. Finally, Canoe Financial LP increased its holdings in shares of Canadian Natural Resources by 403.7% in the first quarter. Canoe Financial LP now owns 4,738,577 shares of the oil and gas producer's stock worth $145,828,000 after buying an additional 3,797,846 shares during the period. Hedge funds and other institutional investors own 74.03% of the company's stock.

Canadian Natural Resources Stock Down 0.9%

NYSE CNQ opened at $32.48 on Friday. The business's 50-day moving average is $31.16 and its 200 day moving average is $30.69. The company has a debt-to-equity ratio of 0.38, a current ratio of 0.85 and a quick ratio of 0.54. The stock has a market capitalization of $67.78 billion, a PE ratio of 11.52 and a beta of 1.03. Canadian Natural Resources Limited has a 1 year low of $24.65 and a 1 year high of $37.91.

Canadian Natural Resources (NYSE:CNQ - Get Free Report) TSE: CNQ last posted its quarterly earnings data on Thursday, August 7th. The oil and gas producer reported $0.51 earnings per share for the quarter, beating the consensus estimate of $0.44 by $0.07. The business had revenue of $6.39 billion for the quarter, compared to analysts' expectations of $8.97 billion. Canadian Natural Resources had a return on equity of 19.67% and a net margin of 19.00%.During the same period in the previous year, the firm posted $0.88 EPS. Sell-side analysts forecast that Canadian Natural Resources Limited will post 2.45 earnings per share for the current year.

Canadian Natural Resources Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 3rd. Shareholders of record on Friday, September 19th will be given a dividend of $0.4269 per share. This represents a $1.71 annualized dividend and a yield of 5.3%. The ex-dividend date of this dividend is Friday, September 19th. This is a positive change from Canadian Natural Resources's previous quarterly dividend of $0.42. Canadian Natural Resources's payout ratio is presently 60.64%.

Analysts Set New Price Targets

Several research firms have recently commented on CNQ. Scotiabank reiterated an "outperform" rating on shares of Canadian Natural Resources in a report on Friday, July 11th. Royal Bank Of Canada reiterated an "outperform" rating and issued a $62.00 price objective on shares of Canadian Natural Resources in a report on Wednesday. National Bankshares reiterated a "sector perform" rating on shares of Canadian Natural Resources in a report on Thursday, July 17th. Raymond James Financial reiterated an "outperform" rating on shares of Canadian Natural Resources in a report on Friday, August 8th. Finally, Zacks Research upgraded Canadian Natural Resources from a "hold" rating to a "strong-buy" rating in a report on Tuesday, August 26th. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, Canadian Natural Resources currently has a consensus rating of "Moderate Buy" and a consensus price target of $62.00.

Canadian Natural Resources Company 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).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.