20,643 Shares in Canadian Natural Resources Limited $CNQ Acquired by Morningstar Investment Management LLC

Morningstar Investment Management LLC purchased a new position in shares of Canadian Natural Resources Limited (NYSE:CNQ) (TSE:CNQ) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 20,643 shares of the oil and gas producer’s stock, valued at approximately $699,000.

A number of other large investors also recently modified their holdings of the business. Vanguard Group Inc. lifted its holdings in shares of Canadian Natural Resources by 0.9% during 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 buying an additional 818,809 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its holdings in shares of Canadian Natural Resources by 179.2% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 11,616,347 shares of the oil and gas producer’s stock worth $393,213,000 after buying an additional 7,455,286 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. lifted its holdings in shares of Canadian Natural Resources by 11.4% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 9,614,291 shares of the oil and gas producer’s stock worth $307,344,000 after buying an additional 983,892 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of Canadian Natural Resources by 11.2% during the third quarter. Dimensional Fund Advisors LP now owns 9,304,783 shares of the oil and gas producer’s stock worth $297,402,000 after buying an additional 934,708 shares during the last quarter. Finally, Bank of America Corp DE lifted its holdings in shares of Canadian Natural Resources by 17.6% during the third quarter. Bank of America Corp DE now owns 9,172,873 shares of the oil and gas producer’s stock worth $293,165,000 after buying an additional 1,371,122 shares during the last quarter. 74.03% of the stock is currently owned by institutional investors and hedge funds.

Canadian Natural Resources Stock Performance

Shares of NYSE CNQ opened at $48.67 on Tuesday. The business has a fifty day simple moving average of $47.24 and a 200 day simple moving average of $40.12. 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 firm has a market capitalization of $101.25 billion, a price-to-earnings ratio of 14.53 and a beta of 0.47. Canadian Natural Resources Limited has a one year low of $29.30 and a one year high of $51.34.

Canadian Natural Resources (NYSE:CNQ) (TSE:CNQ) last issued its earnings results on Thursday, May 7th. The oil and gas producer reported $0.85 EPS for the quarter, beating analysts’ consensus estimates of $0.74 by $0.11. The business had revenue of $7.72 billion during 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 period in the prior year, the company posted $1.16 earnings per share. Sell-side analysts expect that Canadian Natural Resources Limited will post 4.09 EPS for the current year.

Canadian Natural Resources Announces Dividend

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

Analyst Ratings Changes

A number of research analysts have recently commented on CNQ shares. Scotiabank reiterated an “outperform” rating on shares of Canadian Natural Resources in a report on Wednesday, May 20th. Raymond James Financial upgraded Canadian Natural Resources from a “market perform” rating to an “outperform” rating in a report on Thursday, May 7th. Weiss Ratings lowered Canadian Natural Resources from a “buy (b)” rating to a “buy (b-)” rating in a report on Monday, May 11th. Zacks Research upgraded Canadian Natural Resources from a “hold” rating to a “strong-buy” rating in a report on Tuesday, May 5th. Finally, ATB Cormark Capital Markets lowered Canadian Natural Resources from a “strong-buy” rating to a “moderate buy” rating in a report on Thursday, March 5th. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $57.00.

Canadian Natural Resources Company 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.