Marks Group Wealth Management Inc Invests $1.02 Million in Canadian Natural Resources Limited $CNQ

Marks Group Wealth Management Inc bought a new stake in Canadian Natural Resources Limited (NYSE:CNQ) (TSE:CNQ) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 30,228 shares of the oil and gas producer’s stock, valued at approximately $1,023,000.

Several other institutional investors have also added to or reduced their stakes in the stock. Cerity Partners LLC boosted its holdings in Canadian Natural Resources by 3.2% in the fourth quarter. Cerity Partners LLC now owns 296,146 shares of the oil and gas producer’s stock valued at $10,025,000 after acquiring an additional 9,053 shares during the last quarter. LPL Financial LLC boosted its holdings in Canadian Natural Resources by 13.5% in the fourth quarter. LPL Financial LLC now owns 328,287 shares of the oil and gas producer’s stock valued at $11,112,000 after acquiring an additional 38,957 shares during the last quarter. Manchester Capital Management LLC bought a new stake in Canadian Natural Resources in the fourth quarter valued at approximately $28,000. JPMorgan Chase & Co. boosted its holdings in Canadian Natural Resources by 1.9% in the fourth quarter. JPMorgan Chase & Co. now owns 14,308,539 shares of the oil and gas producer’s stock valued at $484,344,000 after acquiring an additional 260,746 shares during the last quarter. Finally, Clearbridge Investments LLC boosted its holdings in Canadian Natural Resources by 7.5% in the fourth quarter. Clearbridge Investments LLC now owns 2,545,271 shares of the oil and gas producer’s stock valued at $86,157,000 after acquiring an additional 178,121 shares during the last quarter. 74.03% of the stock is currently owned by institutional investors.

Canadian Natural Resources Price Performance

Shares of CNQ opened at $44.72 on Wednesday. Canadian Natural Resources Limited has a 52-week low of $29.30 and a 52-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 business’s 50 day moving average price is $46.62 and its two-hundred day moving average price is $41.18. The firm has a market cap of $93.08 billion, a PE ratio of 13.35 and a beta of 0.45.

Canadian Natural Resources (NYSE:CNQ) (TSE:CNQ) last issued its quarterly earnings results 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. Canadian Natural Resources had a return on equity of 17.49% and a net margin of 22.04%.The firm had revenue of $7.72 billion for the quarter, compared to analyst estimates of $7.57 billion. During the same period in the previous year, the firm earned $1.16 earnings per share. On average, equities analysts anticipate that Canadian Natural Resources Limited will post 4.2 EPS for the current year.

Canadian Natural Resources Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 7th. Stockholders of record on Tuesday, June 23rd will be given a dividend of $0.625 per share. This represents a $2.50 dividend on an annualized basis and a dividend yield of 5.6%. The ex-dividend date of this dividend is Tuesday, June 23rd. Canadian Natural Resources’s dividend payout ratio is presently 54.63%.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the company. Raymond James Financial upgraded Canadian Natural Resources from a “market perform” rating to an “outperform” rating in a report on Thursday, May 7th. Royal Bank Of Canada upped 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. 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. Weiss Ratings cut Canadian Natural Resources from a “buy (b)” rating to a “buy (b-)” rating in a report on Monday, May 11th. Finally, Scotiabank reiterated an “outperform” rating on shares of Canadian Natural Resources in a report on Wednesday, May 20th. One equities research 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 company’s stock. According to MarketBeat.com, the company presently has a consensus 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.