Waterfront Wealth Inc. Acquires 308 Shares of Canadian Natural Resources Limited (NYSE:CNQ)

Waterfront Wealth Inc. boosted its stake in shares of Canadian Natural Resources Limited (NYSE:CNQ) (TSE:CNQ) by 2.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 13,345 shares of the oil and gas producer’s stock after purchasing an additional 308 shares during the quarter. Waterfront Wealth Inc.’s holdings in Canadian Natural Resources were worth $874,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Central Bank & Trust Co. bought a new stake in shares of Canadian Natural Resources in the fourth quarter valued at about $26,000. Money Concepts Capital Corp bought a new stake in Canadian Natural Resources in the 4th quarter valued at about $25,000. Captrust Financial Advisors boosted its holdings in Canadian Natural Resources by 57.6% in the 2nd quarter. Captrust Financial Advisors now owns 594 shares of the oil and gas producer’s stock valued at $32,000 after purchasing an additional 217 shares during the period. Janiczek Wealth Management LLC grew its position in shares of Canadian Natural Resources by 39.7% during the 4th quarter. Janiczek Wealth Management LLC now owns 609 shares of the oil and gas producer’s stock worth $40,000 after purchasing an additional 173 shares in the last quarter. Finally, Fortis Capital Advisors LLC bought a new position in shares of Canadian Natural Resources during the first quarter worth approximately $35,000. 74.03% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Separately, JPMorgan Chase & Co. raised their price target on Canadian Natural Resources from $101.00 to $102.00 and gave the stock a “neutral” rating in a research report on Thursday, January 11th. Five analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, Canadian Natural Resources currently has an average rating of “Hold” and a consensus target price of $94.00.

Canadian Natural Resources Trading Up 0.2 %

Shares of CNQ stock traded up $0.12 during trading hours on Thursday, hitting $77.34. 205,965 shares of the company’s stock traded hands, compared to its average volume of 3,295,464. The stock has a market cap of $82.92 billion, a PE ratio of 13.93 and a beta of 1.54. The stock’s 50 day simple moving average is $71.89 and its 200 day simple moving average is $67.09. The company has a quick ratio of 0.69, a current ratio of 0.96 and a debt-to-equity ratio of 0.25. Canadian Natural Resources Limited has a 12 month low of $52.66 and a 12 month high of $82.58.

Canadian Natural Resources (NYSE:CNQ) (TSE:CNQ) last announced its earnings results on Thursday, February 29th. The oil and gas producer reported $1.72 EPS for the quarter, topping the consensus estimate of $1.59 by $0.13. The firm had revenue of $7.02 billion for the quarter, compared to the consensus estimate of $6.73 billion. Canadian Natural Resources had a return on equity of 21.74% and a net margin of 20.15%. On average, sell-side analysts anticipate that Canadian Natural Resources Limited will post 5.67 EPS for the current year.

Canadian Natural Resources Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, April 5th. Stockholders of record on Friday, March 15th were paid a $0.774 dividend. This represents a $3.10 dividend on an annualized basis and a dividend yield of 4.00%. This is an increase from Canadian Natural Resources’s previous quarterly dividend of $0.72. The ex-dividend date was Thursday, March 14th. Canadian Natural Resources’s payout ratio is currently 53.25%.

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).