Canadian Natural Resources Limited (NYSE:CNQ) Shares Purchased by Algert Global LLC

Algert Global LLC lifted its stake in Canadian Natural Resources Limited (NYSE:CNQ) (TSE:CNQ) by 22.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 56,154 shares of the oil and gas producer’s stock after acquiring an additional 10,436 shares during the period. Algert Global LLC’s holdings in Canadian Natural Resources were worth $1,732,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. FMR LLC lifted its position in Canadian Natural Resources by 8.7% in the fourth quarter. FMR LLC now owns 92,550,104 shares of the oil and gas producer’s stock worth $2,857,337,000 after purchasing an additional 7,372,718 shares during the period. Assenagon Asset Management S.A. lifted its holdings in shares of Canadian Natural Resources by 6,902.0% in the fourth quarter. Assenagon Asset Management S.A. now owns 3,652,855 shares of the oil and gas producer’s stock valued at $112,763,000 after buying an additional 3,600,686 shares during the period. Connor Clark & Lunn Investment Management Ltd. grew its holdings in Canadian Natural Resources by 31.6% during the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 13,433,797 shares of the oil and gas producer’s stock worth $414,223,000 after acquiring an additional 3,224,548 shares during the period. Geode Capital Management LLC lifted its holdings in Canadian Natural Resources by 30.1% in the 4th quarter. Geode Capital Management LLC now owns 12,708,163 shares of the oil and gas producer’s stock valued at $400,222,000 after acquiring an additional 2,939,866 shares during the last quarter. Finally, T. Rowe Price Investment Management Inc. boosted its position in shares of Canadian Natural Resources by 7.3% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 34,052,775 shares of the oil and gas producer’s stock valued at $1,051,210,000 after purchasing an additional 2,312,437 shares in the last quarter. 74.03% of the stock is currently owned by institutional investors.

Canadian Natural Resources Price Performance

CNQ opened at $30.53 on Friday. Canadian Natural Resources Limited has a 12-month low of $24.65 and a 12-month high of $39.20. The company has a quick ratio of 0.53, a current ratio of 0.84 and a debt-to-equity ratio of 0.21. The firm has a market capitalization of $64.04 billion, a P/E ratio of 11.86 and a beta of 1.04. The stock has a fifty day moving average of $28.98 and a 200-day moving average of $30.84.

Canadian Natural Resources (NYSE:CNQ) (TSE:CNQ) last released its earnings results on Thursday, May 8th. The oil and gas producer reported $0.81 earnings per share for the quarter, beating the consensus estimate of $0.73 by $0.08. The company 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 20.07% and a net margin of 18.45%. During the same quarter in the previous year, the business posted $1.37 EPS. Equities analysts forecast that Canadian Natural Resources Limited will post 2.45 EPS for the current fiscal year.

Canadian Natural Resources Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, July 3rd. Shareholders of record on Friday, June 13th will be given a $0.4227 dividend. This is an increase from Canadian Natural Resources’s previous quarterly dividend of $0.41. The ex-dividend date of this dividend is Friday, June 13th. This represents a $1.69 dividend on an annualized basis and a yield of 5.54%. Canadian Natural Resources’s dividend payout ratio is presently 77.88%.

Wall Street Analyst Weigh In

Several analysts recently commented on CNQ shares. Royal Bank of Canada reissued an “outperform” rating and set a $63.00 target price on shares of Canadian Natural Resources in a research note on Thursday, March 27th. Evercore ISI raised Canadian Natural Resources from an “in-line” rating to an “outperform” rating in a research note on Friday, March 7th. Tudor Pickering lowered Canadian Natural Resources from a “strong-buy” rating to a “hold” rating in a research report on Monday, February 10th. Raymond James upgraded Canadian Natural Resources from a “market perform” rating to an “outperform” rating in a research report on Wednesday, April 9th. Finally, Scotiabank raised Canadian Natural Resources from a “sector perform” rating to a “sector outperform” rating in a research note on Wednesday, March 19th. Three research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $63.00.

About Canadian Natural Resources

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).