Cumberland Partners Ltd Increases Stake in Canadian Natural Resources Limited $CNQ

Cumberland Partners Ltd grew its stake in Canadian Natural Resources Limited (NYSE:CNQ) (TSE:CNQ) by 48.2% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 260,352 shares of the oil and gas producer’s stock after acquiring an additional 84,727 shares during the quarter. Cumberland Partners Ltd’s holdings in Canadian Natural Resources were worth $8,827,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. RD Lewis Holdings Inc. increased its stake in shares of Canadian Natural Resources by 2.0% in the 4th quarter. RD Lewis Holdings Inc. now owns 55,551 shares of the oil and gas producer’s stock worth $2,082,000 after acquiring an additional 1,082 shares during the last quarter. Cadence Wealth Management LLC increased its position in shares of Canadian Natural Resources by 4.7% during the 4th quarter. Cadence Wealth Management LLC now owns 20,262 shares of the oil and gas producer’s stock worth $686,000 after purchasing an additional 903 shares during the last quarter. Mraz Amerine & Associates Inc. increased its position in shares of Canadian Natural Resources by 4.1% during the 4th quarter. Mraz Amerine & Associates Inc. now owns 235,705 shares of the oil and gas producer’s stock worth $7,979,000 after purchasing an additional 9,192 shares during the last quarter. Global Retirement Partners LLC boosted its holdings in Canadian Natural Resources by 162.3% during the 4th quarter. Global Retirement Partners LLC now owns 6,099 shares of the oil and gas producer’s stock valued at $206,000 after acquiring an additional 3,774 shares during the period. Finally, Leonteq Securities AG purchased a new position in Canadian Natural Resources during the 4th quarter valued at about $31,000. 74.03% of the stock is owned by institutional investors and hedge funds.

Canadian Natural Resources Stock Performance

Shares of CNQ opened at $48.67 on Friday. The stock has a 50-day simple moving average of $47.24 and a 200-day simple moving average of $39.94. 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 stock has a market capitalization of $101.25 billion, a PE ratio of 14.53 and a beta of 0.47. Canadian Natural Resources Limited has a 1 year low of $29.30 and a 1 year high of $51.34.

Canadian Natural Resources (NYSE:CNQ) (TSE:CNQ) last announced its quarterly earnings data on Thursday, May 7th. The oil and gas producer reported $0.85 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.74 by $0.11. The business had revenue of $7.72 billion during the quarter, compared to analysts’ expectations 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 business posted $1.16 EPS. On average, analysts predict that Canadian Natural Resources Limited will post 4.09 earnings per share for the current fiscal year.

Canadian Natural Resources Dividend Announcement

The firm 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 dividend of $0.625 per share. The ex-dividend date is Tuesday, June 23rd. This represents a $2.50 annualized dividend and a yield of 5.1%. Canadian Natural Resources’s payout ratio is presently 54.63%.

Analyst Upgrades and Downgrades

CNQ has been the subject of a number of research analyst reports. Weiss Ratings cut Canadian Natural Resources from a “buy (b)” rating to a “buy (b-)” rating in a report on Monday, May 11th. ATB Cormark Capital Markets cut Canadian Natural Resources from a “strong-buy” rating to a “moderate buy” rating in a report on Thursday, March 5th. Royal Bank Of Canada raised their target price on Canadian Natural Resources from $61.00 to $65.00 and gave the company an “outperform” rating in a report on Friday, March 6th. Zacks Research upgraded Canadian Natural Resources from a “hold” rating to a “strong-buy” rating in a report on Tuesday, May 5th. Finally, Scotiabank restated an “outperform” rating on shares of Canadian Natural Resources in a report on Wednesday. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat.com, Canadian Natural Resources presently has an average 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.