Mirae Asset Global Investments Co. Ltd. Acquires New Holdings in Canadian Natural Resources Limited (NYSE:CNQ)

Mirae Asset Global Investments Co. Ltd. acquired a new stake in shares of Canadian Natural Resources Limited (NYSE:CNQ) (TSE:CNQ) during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 31,985 shares of the oil and gas producer’s stock, valued at approximately $2,096,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Raymond James Financial Services Advisors Inc. raised its stake in shares of Canadian Natural Resources by 993.8% during the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 206,580 shares of the oil and gas producer’s stock valued at $13,535,000 after purchasing an additional 187,694 shares in the last quarter. Baskin Financial Services Inc. raised its stake in shares of Canadian Natural Resources by 3.5% during the fourth quarter. Baskin Financial Services Inc. now owns 464,287 shares of the oil and gas producer’s stock valued at $30,406,000 after purchasing an additional 15,546 shares in the last quarter. Principal Financial Group Inc. raised its stake in shares of Canadian Natural Resources by 130.6% during the third quarter. Principal Financial Group Inc. now owns 158,407 shares of the oil and gas producer’s stock valued at $10,292,000 after purchasing an additional 89,700 shares in the last quarter. Old West Investment Management LLC grew its stake in Canadian Natural Resources by 117.1% during the 3rd quarter. Old West Investment Management LLC now owns 79,247 shares of the oil and gas producer’s stock valued at $5,125,000 after acquiring an additional 42,744 shares in the last quarter. Finally, Alberta Investment Management Corp grew its stake in Canadian Natural Resources by 0.5% during the 3rd quarter. Alberta Investment Management Corp now owns 3,237,831 shares of the oil and gas producer’s stock valued at $210,363,000 after acquiring an additional 17,100 shares in the last quarter. 74.03% of the stock is currently owned by institutional investors.

Canadian Natural Resources Stock Down 0.4 %

Shares of Canadian Natural Resources stock opened at $76.54 on Friday. The firm has a market cap of $82.06 billion, a price-to-earnings ratio of 13.82 and a beta of 1.54. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.96 and a quick ratio of 0.69. Canadian Natural Resources Limited has a 52-week low of $52.66 and a 52-week high of $82.58. The stock has a 50-day simple moving average of $72.53 and a 200-day simple moving average of $67.25.

Canadian Natural Resources (NYSE:CNQ) (TSE:CNQ) last announced its quarterly earnings results on Thursday, February 29th. The oil and gas producer reported $1.72 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.59 by $0.13. The business had revenue of $7.02 billion during the quarter, compared to analyst estimates of $6.73 billion. Canadian Natural Resources had a return on equity of 21.74% and a net margin of 20.15%. On average, equities research analysts expect that Canadian Natural Resources Limited will post 5.7 earnings per share for the current fiscal year.

Canadian Natural Resources Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, April 5th. Stockholders of record on Friday, March 15th were issued a dividend of $0.774 per share. This represents a $3.10 annualized dividend and a dividend yield of 4.04%. This is a positive change from Canadian Natural Resources’s previous quarterly dividend of $0.72. The ex-dividend date was Thursday, March 14th. Canadian Natural Resources’s payout ratio is currently 53.25%.

Analysts Set New Price Targets

Separately, JPMorgan Chase & Co. lifted their target price on Canadian Natural Resources from $101.00 to $102.00 and gave the company a “neutral” rating in a research note on Thursday, January 11th. Five analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $94.00.

Canadian Natural Resources Profile

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).