Canadian Natural Resources Limited (NYSE:CNQ) is Mudita Advisors LLP’s 4th Largest Position

Mudita Advisors LLP lifted its stake in Canadian Natural Resources Limited (NYSE:CNQ) (TSE:CNQ) by 11.7% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 568,744 shares of the oil and gas producer’s stock after purchasing an additional 59,800 shares during the quarter. Canadian Natural Resources comprises about 9.9% of Mudita Advisors LLP’s portfolio, making the stock its 4th largest holding. Mudita Advisors LLP’s holdings in Canadian Natural Resources were worth $17,557,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. FMR LLC grew its stake in shares of Canadian Natural Resources by 8.7% during the 4th 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. Principal Securities Inc. lifted its holdings in Canadian Natural Resources by 595.2% in the 4th quarter. Principal Securities Inc. now owns 6,987 shares of the oil and gas producer’s stock valued at $216,000 after purchasing an additional 5,982 shares in the last quarter. SG Americas Securities LLC lifted its holdings in Canadian Natural Resources by 6.3% in the 4th quarter. SG Americas Securities LLC now owns 296,424 shares of the oil and gas producer’s stock valued at $9,151,000 after purchasing an additional 17,694 shares in the last quarter. CIBC Asset Management Inc lifted its holdings in Canadian Natural Resources by 5.6% in the 4th quarter. CIBC Asset Management Inc now owns 24,109,432 shares of the oil and gas producer’s stock valued at $746,025,000 after purchasing an additional 1,270,945 shares in the last quarter. Finally, Bank of New York Mellon Corp lifted its holdings in Canadian Natural Resources by 87.0% in the 4th quarter. Bank of New York Mellon Corp now owns 4,437,771 shares of the oil and gas producer’s stock valued at $136,994,000 after purchasing an additional 2,064,492 shares in the last quarter. 74.03% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

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

Canadian Natural Resources Price Performance

CNQ stock opened at $31.40 on Tuesday. The company has a market capitalization of $65.78 billion, a P/E ratio of 12.20 and a beta of 1.04. Canadian Natural Resources Limited has a twelve month low of $24.65 and a twelve month high of $38.86. The business has a 50 day simple moving average of $29.06 and a 200-day simple moving average of $30.75. The company has a current ratio of 0.84, a quick ratio of 0.53 and a debt-to-equity ratio of 0.21.

Canadian Natural Resources (NYSE:CNQ) (TSE:CNQ) last issued its quarterly earnings results on Thursday, May 8th. The oil and gas producer reported $0.81 earnings per share for the quarter, topping the consensus estimate of $0.73 by $0.08. Canadian Natural Resources had a return on equity of 20.07% and a net margin of 18.45%. The firm had revenue of $6.96 billion during the quarter, compared to the consensus estimate of $10.14 billion. During the same period last year, the company earned $1.37 earnings per share. As a group, equities analysts anticipate that Canadian Natural Resources Limited will post 2.45 EPS for the current year.

Canadian Natural Resources Increases Dividend

The firm also recently disclosed 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 a boost 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 annualized dividend and a yield of 5.38%. Canadian Natural Resources’s dividend payout ratio is presently 63.92%.

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).