Ferguson Wellman Capital Management Inc. Invests $23.72 Million in Canadian Natural Resources Limited $CNQ

Key Points

• Ferguson Wellman Capital Management disclosed a new first-quarter stake in Canadian Natural Resources, buying 486,675 shares worth about $23.7 million.
• Canadian Natural Resources recently reported better-than-expected earnings, posting $0.85 EPS on revenue of $7.72 billion, while analysts now expect about 4.2 EPS for the full fiscal year.
• The company paid a quarterly dividend of $0.625, equal to a $2.50 annualized payout and a 6.0% yield; analysts currently have a consensus rating of Moderate Buy with a $57 target price.

Ferguson Wellman Capital Management Inc. bought a new stake in Canadian Natural Resources Limited (NYSE:CNQ - Free Report) TSE: CNQ in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 486,675 shares of the oil and gas producer's stock, valued at approximately $23,716,000.

A number of other large investors have also recently added to or reduced their stakes in CNQ. Sunbelt Securities Inc. acquired a new stake in Canadian Natural Resources in the 4th quarter valued at about $25,000. Manchester Capital Management LLC bought a new position in shares of Canadian Natural Resources during the 4th quarter worth approximately $28,000. Leonteq Securities AG bought a new position in shares of Canadian Natural Resources during the 4th quarter worth approximately $31,000. GoalVest Advisory LLC acquired a new position in shares of Canadian Natural Resources during the 4th quarter worth approximately $32,000. Finally, Quarry LP bought a new stake in Canadian Natural Resources in the 3rd quarter valued at $32,000. Institutional investors and hedge funds own 74.03% of the company's stock.

Canadian Natural Resources Stock Performance

NYSE CNQ traded down $0.13 during trading on Friday, reaching $41.75. The company's stock had a trading volume of 8,711,117 shares, compared to its average volume of 9,797,030. The firm has a 50 day moving average price of $44.40 and a 200 day moving average price of $42.43. Canadian Natural Resources Limited has a 12 month low of $29.30 and a 12 month high of $51.34. The firm has a market capitalization of $86.67 billion, a price-to-earnings ratio of 12.46 and a beta of 0.47. The company has a current ratio of 0.98, a quick ratio of 0.68 and a debt-to-equity ratio of 0.37.

Canadian Natural Resources (NYSE:CNQ - Get Free Report) TSE: CNQ last announced its earnings results on Thursday, May 7th. The oil and gas producer reported $0.85 EPS for the quarter, topping the consensus estimate of $0.74 by $0.11. The company had revenue of $7.72 billion for the quarter, compared to analysts' expectations of $7.57 billion. Canadian Natural Resources had a net margin of 22.04% and a return on equity of 17.49%. During the same period last year, the firm earned $1.16 earnings per share. As a group, equities analysts anticipate that Canadian Natural Resources Limited will post 4.2 EPS for the current fiscal year.

Canadian Natural Resources Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, July 7th. Shareholders of record on Tuesday, June 23rd were issued a $0.625 dividend. The ex-dividend date of this dividend was Tuesday, June 23rd. This represents a $2.50 annualized dividend and a yield of 6.0%. Canadian Natural Resources's payout ratio is currently 54.03%.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on CNQ shares. Weiss Ratings cut shares of Canadian Natural Resources from a "buy (b)" rating to a "buy (b-)" rating in a research report on Monday, May 11th. Raymond James Financial upgraded shares of Canadian Natural Resources from a "market perform" rating to an "outperform" rating in a research report on Thursday, May 7th. Zacks Research cut Canadian Natural Resources from a "strong-buy" rating to a "hold" rating in a report on Monday, June 8th. Finally, Scotiabank upgraded Canadian Natural Resources to a "hold" rating in a research note on Friday, June 26th. Six equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. According to MarketBeat.com, Canadian Natural Resources has a consensus 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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