Hohimer Wealth Management LLC Takes Position in Canadian Natural Resources Limited (NYSE:CNQ)

Hohimer Wealth Management LLC acquired a new stake in Canadian Natural Resources Limited (NYSE:CNQ - Free Report) TSE: CNQ in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 49,799 shares of the oil and gas producer's stock, valued at approximately $1,534,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Lee Danner & Bass Inc. acquired a new position in shares of Canadian Natural Resources in the fourth quarter valued at approximately $25,000. Hurley Capital LLC acquired a new position in shares of Canadian Natural Resources in the fourth quarter valued at approximately $31,000. Sandy Spring Bank acquired a new position in shares of Canadian Natural Resources in the fourth quarter valued at approximately $31,000. CoreFirst Bank & Trust acquired a new position in shares of Canadian Natural Resources in the fourth quarter valued at approximately $31,000. Finally, Assetmark Inc. increased its stake in shares of Canadian Natural Resources by 57.3% in the fourth quarter. Assetmark Inc. now owns 1,205 shares of the oil and gas producer's stock valued at $37,000 after buying an additional 439 shares during the period. Institutional investors and hedge funds own 74.03% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the stock. Royal Bank Of Canada reissued an "outperform" rating and set a $63.00 target price on shares of Canadian Natural Resources in a research report on Thursday, March 27th. Raymond James Financial raised shares of Canadian Natural Resources from a "market perform" rating to an "outperform" rating in a research report on Wednesday, April 9th. Finally, Scotiabank raised shares of Canadian Natural Resources from a "sector perform" rating to a "sector outperform" rating in a research report on Wednesday, March 19th. Three research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $63.00.

Canadian Natural Resources Price Performance

Canadian Natural Resources stock opened at $32.09 on Monday. The stock has a market capitalization of $67.12 billion, a price-to-earnings ratio of 12.58 and a beta of 1.03. Canadian Natural Resources Limited has a 52-week low of $24.65 and a 52-week high of $37.91. The stock's 50 day moving average price is $31.51 and its two-hundred day moving average price is $30.41. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.53 and a current ratio of 0.84.

Canadian Natural Resources (NYSE:CNQ - Get Free Report) TSE: CNQ last posted its quarterly earnings results on Thursday, May 8th. The oil and gas producer reported $0.81 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.73 by $0.08. The firm 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 20.90% and a net margin of 16.92%. During the same period in the prior year, the business earned $1.37 EPS. On average, equities analysts predict that Canadian Natural Resources Limited will post 2.45 earnings per share for the current year.

Canadian Natural Resources Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, July 3rd. Shareholders of record on Friday, June 13th were issued a dividend of $0.4227 per share. This represents a $1.69 dividend on an annualized basis and a dividend yield of 5.27%. This is a boost from Canadian Natural Resources's previous quarterly dividend of $0.41. The ex-dividend date of this dividend was Friday, June 13th. Canadian Natural Resources's dividend payout ratio is presently 67.06%.

Canadian Natural Resources 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).

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