Northwestern Mutual Wealth Management Co. Has $15.47 Million Position in Canadian Natural Resources Limited $CNQ

Northwestern Mutual Wealth Management Co. lifted its position in shares of Canadian Natural Resources Limited (NYSE:CNQ) (TSE:CNQ) by 255.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 457,067 shares of the oil and gas producer’s stock after buying an additional 328,630 shares during the period. Northwestern Mutual Wealth Management Co.’s holdings in Canadian Natural Resources were worth $15,472,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently modified their holdings of the company. Tacita Capital Inc boosted its position in shares of Canadian Natural Resources by 6.1% during the third quarter. Tacita Capital Inc now owns 5,753 shares of the oil and gas producer’s stock worth $184,000 after buying an additional 330 shares during the period. Gateway Investment Advisers LLC boosted its position in shares of Canadian Natural Resources by 1.3% during the fourth quarter. Gateway Investment Advisers LLC now owns 26,486 shares of the oil and gas producer’s stock worth $897,000 after buying an additional 330 shares during the period. Rathbones Group PLC boosted its position in shares of Canadian Natural Resources by 1.3% during the fourth quarter. Rathbones Group PLC now owns 26,308 shares of the oil and gas producer’s stock worth $892,000 after buying an additional 350 shares during the period. Frank Rimerman Advisors LLC boosted its position in shares of Canadian Natural Resources by 2.2% during the third quarter. Frank Rimerman Advisors LLC now owns 17,886 shares of the oil and gas producer’s stock worth $572,000 after buying an additional 390 shares during the period. Finally, PDS Planning Inc boosted its position in shares of Canadian Natural Resources by 3.7% during the fourth quarter. PDS Planning Inc now owns 11,794 shares of the oil and gas producer’s stock worth $399,000 after buying an additional 420 shares during the period. 74.03% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

CNQ has been the subject of several recent research reports. Zacks Research raised Canadian Natural Resources from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, May 5th. Raymond James Financial raised Canadian Natural Resources from a “market perform” rating to an “outperform” rating in a research report on Thursday, May 7th. Wall Street Zen raised Canadian Natural Resources from a “sell” rating to a “hold” rating in a research report on Saturday, January 31st. Royal Bank Of Canada upped their price objective on Canadian Natural Resources from $61.00 to $65.00 and gave the stock an “outperform” rating in a research report on Friday, March 6th. Finally, Scotiabank reaffirmed an “outperform” rating on shares of Canadian Natural Resources in a research report on Wednesday. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat.com, Canadian Natural Resources currently has an average rating of “Moderate Buy” and an average target price of $57.00.

Canadian Natural Resources Stock Performance

CNQ opened at $48.79 on Thursday. Canadian Natural Resources Limited has a 52-week low of $29.30 and a 52-week high of $51.34. The firm has a market capitalization of $101.49 billion, a PE ratio of 14.56 and a beta of 0.47. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.68 and a current ratio of 0.98. The business’s 50-day simple moving average is $47.15 and its 200 day simple moving average is $39.76.

Canadian Natural Resources (NYSE:CNQ) (TSE:CNQ) last released its earnings results on Thursday, May 7th. The oil and gas producer reported $0.85 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.74 by $0.11. Canadian Natural Resources had a return on equity of 17.49% and a net margin of 22.04%.The business had revenue of $7.72 billion for the quarter, compared to analyst estimates of $7.57 billion. During the same quarter in the prior year, the company posted $1.16 earnings per share. As a group, sell-side analysts expect that Canadian Natural Resources Limited will post 4.09 earnings per share for the current fiscal year.

Canadian Natural Resources Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 7th. Investors of record on Tuesday, June 23rd will be issued a dividend of $0.625 per share. This represents a $2.50 annualized dividend and a yield of 5.1%. The ex-dividend date is Tuesday, June 23rd. Canadian Natural Resources’s dividend payout ratio is presently 54.63%.

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.