Capital International Investors Acquires 652,303 Shares of Canadian Natural Resources Limited $CNQ

Capital International Investors raised its position in shares of Canadian Natural Resources Limited (NYSE:CNQ) (TSE:CNQ) by 68.1% during the 4th quarter, Holdings Channel reports. The fund owned 1,609,863 shares of the oil and gas producer’s stock after purchasing an additional 652,303 shares during the period. Capital International Investors’ holdings in Canadian Natural Resources were worth $54,528,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the company. TT Capital Management LLC purchased a new stake in shares of Canadian Natural Resources during the 4th quarter worth approximately $259,000. Fore Capital LLC purchased a new stake in shares of Canadian Natural Resources during the 4th quarter worth approximately $1,016,000. Vise Technologies Inc. raised its holdings in shares of Canadian Natural Resources by 36.2% during the 4th quarter. Vise Technologies Inc. now owns 59,789 shares of the oil and gas producer’s stock worth $2,024,000 after acquiring an additional 15,898 shares in the last quarter. Ted Buchan & Co raised its holdings in shares of Canadian Natural Resources by 0.6% during the 4th quarter. Ted Buchan & Co now owns 43,814 shares of the oil and gas producer’s stock worth $1,483,000 after acquiring an additional 260 shares in the last quarter. Finally, Avalon Capital Management raised its holdings in shares of Canadian Natural Resources by 36.3% during the 4th quarter. Avalon Capital Management now owns 21,259 shares of the oil and gas producer’s stock worth $720,000 after acquiring an additional 5,662 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 recent research reports. 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. Scotiabank reaffirmed an “outperform” rating on shares of Canadian Natural Resources in a report on Wednesday, May 20th. Zacks Research raised Canadian Natural Resources from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, May 5th. Weiss Ratings downgraded Canadian Natural Resources from a “buy (b)” rating to a “buy (b-)” rating in a research report on Monday, May 11th. Finally, Raymond James Financial raised Canadian Natural Resources from a “market perform” rating to an “outperform” rating in a research report on Thursday, May 7th. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and four have given a Hold rating to the company. According to MarketBeat, Canadian Natural Resources presently has an average rating of “Moderate Buy” and a consensus target price of $57.00.

Canadian Natural Resources Stock Performance

NYSE CNQ opened at $46.37 on Tuesday. The business’s 50 day moving average price is $46.73 and its 200-day moving average price is $41.10. Canadian Natural Resources Limited has a fifty-two week low of $29.30 and a fifty-two week high of $51.34. 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 company has a market cap of $96.50 billion, a P/E ratio of 13.84 and a beta of 0.45.

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 EPS for the quarter, beating the consensus estimate of $0.74 by $0.11. The company had revenue of $7.72 billion for the quarter, compared to the consensus estimate 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 in the prior year, the company posted $1.16 EPS. Sell-side analysts predict that Canadian Natural Resources Limited will post 4.2 earnings per share for the current year.

Canadian Natural Resources Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 7th. Stockholders of record on Tuesday, June 23rd will be paid a dividend of $0.625 per share. This represents a $2.50 dividend on an annualized basis and a dividend yield of 5.4%. The ex-dividend date of this dividend is Tuesday, June 23rd. Canadian Natural Resources’s payout ratio is currently 54.03%.

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.