Canadian Natural Resources Limited (NYSE:CNQ) Position Increased by Financial Perspectives Inc

Financial Perspectives Inc raised its position in shares of Canadian Natural Resources Limited (NYSE:CNQ) (TSE:CNQ) by 92.1% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,797 shares of the oil and gas producer’s stock after purchasing an additional 2,779 shares during the period. Financial Perspectives Inc’s holdings in Canadian Natural Resources were worth $380,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in CNQ. Healthcare of Ontario Pension Plan Trust Fund raised its position in Canadian Natural Resources by 43.2% during the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 7,640,000 shares of the oil and gas producer’s stock valued at $494,262,000 after acquiring an additional 2,305,000 shares in the last quarter. WCM Investment Management LLC raised its holdings in shares of Canadian Natural Resources by 9,297.9% during the 4th quarter. WCM Investment Management LLC now owns 2,192,895 shares of the oil and gas producer’s stock valued at $143,284,000 after purchasing an additional 2,169,561 shares in the last quarter. Morgan Stanley boosted its holdings in Canadian Natural Resources by 33.4% in the third quarter. Morgan Stanley now owns 7,311,061 shares of the oil and gas producer’s stock worth $472,806,000 after purchasing an additional 1,831,015 shares in the last quarter. The Manufacturers Life Insurance Company boosted its holdings in Canadian Natural Resources by 15.8% in the third quarter. The Manufacturers Life Insurance Company now owns 12,852,785 shares of the oil and gas producer’s stock worth $837,145,000 after purchasing an additional 1,750,013 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. increased its position in Canadian Natural Resources by 32.5% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 7,066,855 shares of the oil and gas producer’s stock worth $456,999,000 after buying an additional 1,733,988 shares during the last quarter. Institutional investors own 74.03% of the company’s stock.

Canadian Natural Resources Stock Performance

Shares of NYSE:CNQ traded up $0.31 during midday trading on Tuesday, hitting $77.08. The company’s stock had a trading volume of 3,421,367 shares, compared to its average volume of 3,337,046. Canadian Natural Resources Limited has a fifty-two week low of $52.66 and a fifty-two week high of $82.58. The stock has a market capitalization of $82.64 billion, a price-to-earnings ratio of 13.86 and a beta of 1.54. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.69 and a current ratio of 0.96. The stock’s 50 day simple moving average is $72.85 and its 200 day simple moving average is $67.44.

Canadian Natural Resources (NYSE:CNQ) (TSE:CNQ) last posted its earnings results on Thursday, February 29th. The oil and gas producer reported $1.72 earnings per share for the quarter, beating analysts’ consensus estimates of $1.59 by $0.13. The business had revenue of $7.02 billion for the quarter, compared to analysts’ expectations of $6.73 billion. Canadian Natural Resources had a net margin of 20.15% and a return on equity of 21.74%. As a group, research analysts anticipate that Canadian Natural Resources Limited will post 5.7 earnings per share for the current year.

Canadian Natural Resources Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, April 5th. Stockholders of record on Friday, March 15th were issued a $0.774 dividend. The ex-dividend date was Thursday, March 14th. This is a boost from Canadian Natural Resources’s previous quarterly dividend of $0.72. This represents a $3.10 dividend on an annualized basis and a dividend yield of 4.02%. Canadian Natural Resources’s dividend payout ratio is presently 53.25%.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on CNQ. JPMorgan Chase & Co. boosted 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. Desjardins downgraded Canadian Natural Resources from a “buy” rating to a “hold” rating in a research note on Tuesday. Six investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $94.00.

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).