WIT Partners Advisory Pte. Ltd. Grows Position in Canadian Natural Resources Limited $CNQ

WIT Partners Advisory Pte. Ltd. raised its position in Canadian Natural Resources Limited (NYSE:CNQ) (TSE:CNQ) by 332.2% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 41,487 shares of the oil and gas producer’s stock after purchasing an additional 31,887 shares during the quarter. Canadian Natural Resources accounts for approximately 0.6% of WIT Partners Advisory Pte. Ltd.’s holdings, making the stock its 11th biggest holding. WIT Partners Advisory Pte. Ltd.’s holdings in Canadian Natural Resources were worth $2,022,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of the business. TD Waterhouse Canada Inc. grew its position in Canadian Natural Resources by 4.9% in the 4th quarter. TD Waterhouse Canada Inc. now owns 6,758,445 shares of the oil and gas producer’s stock valued at $228,729,000 after acquiring an additional 315,460 shares during the last quarter. Marshall Financial Group LLC bought a new stake in shares of Canadian Natural Resources during the fourth quarter worth $869,000. Novem Group purchased a new stake in shares of Canadian Natural Resources during the fourth quarter valued at $1,270,000. Bleakley Financial Group LLC grew its holdings in shares of Canadian Natural Resources by 59.8% in the fourth quarter. Bleakley Financial Group LLC now owns 78,161 shares of the oil and gas producer’s stock worth $2,646,000 after purchasing an additional 29,249 shares during the last quarter. Finally, Vanguard Group Inc. grew its holdings in shares of Canadian Natural Resources by 0.9% in the fourth quarter. Vanguard Group Inc. now owns 93,305,198 shares of the oil and gas producer’s stock worth $3,160,340,000 after purchasing an additional 818,809 shares during the last quarter. Hedge funds and other institutional investors own 74.03% of the company’s stock.

Canadian Natural Resources Price Performance

CNQ opened at $42.85 on Friday. Canadian Natural Resources Limited has a 12-month low of $29.30 and a 12-month high of $51.34. The company has a current ratio of 0.98, a quick ratio of 0.68 and a debt-to-equity ratio of 0.37. The business’s fifty day simple moving average is $44.11 and its 200-day simple moving average is $42.78. The company has a market capitalization of $88.95 billion, a price-to-earnings ratio of 12.79 and a beta of 0.47.

Canadian Natural Resources (NYSE:CNQ) (TSE:CNQ) last announced its quarterly earnings results on Thursday, May 7th. The oil and gas producer reported $0.85 EPS for the quarter, beating the consensus estimate of $0.74 by $0.11. The firm had revenue of $7.72 billion for the quarter, compared to analyst estimates of $7.57 billion. Canadian Natural Resources had a return on equity of 17.49% and a net margin of 22.04%.During the same quarter last year, the firm posted $1.16 earnings per share. On average, equities research analysts anticipate that Canadian Natural Resources Limited will post 4.2 earnings per share for the current fiscal year.

Canadian Natural Resources Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, July 7th. Shareholders of record on Tuesday, June 23rd were issued a dividend of $0.625 per share. This represents a $2.50 annualized dividend and a yield of 5.8%. The ex-dividend date was Tuesday, June 23rd. Canadian Natural Resources’s dividend payout ratio is presently 54.03%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on CNQ shares. Raymond James Financial upgraded shares of Canadian Natural Resources from a “market perform” rating to an “outperform” rating in a report on Thursday, May 7th. Scotiabank upgraded shares of Canadian Natural Resources to a “hold” rating in a research note on Friday, June 26th. Zacks Research lowered shares of Canadian Natural Resources from a “strong-buy” rating to a “hold” rating in a research report on Monday, June 8th. Finally, Weiss Ratings downgraded shares of Canadian Natural Resources from a “buy (b)” rating to a “buy (b-)” rating in a research note on Monday, May 11th. Six research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $57.00.

Canadian Natural Resources Profile

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.