Recurrent Investment Advisors LLC Purchases New Position in Canadian Natural Resources Limited (NYSE:CNQ)

Recurrent Investment Advisors LLC acquired a new stake in shares of Canadian Natural Resources Limited (NYSE:CNQ) (TSE:CNQ) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 59,020 shares of the oil and gas producer’s stock, valued at approximately $1,822,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Barclays PLC lifted its stake in shares of Canadian Natural Resources by 23.4% in the 3rd quarter. Barclays PLC now owns 716,670 shares of the oil and gas producer’s stock valued at $23,800,000 after purchasing an additional 136,107 shares during the last quarter. Moody National Bank Trust Division acquired a new stake in shares of Canadian Natural Resources in the fourth quarter worth about $204,000. AdvisorNet Financial Inc increased its holdings in shares of Canadian Natural Resources by 187.2% during the 4th quarter. AdvisorNet Financial Inc now owns 6,540 shares of the oil and gas producer’s stock valued at $202,000 after acquiring an additional 4,263 shares during the last quarter. FNY Investment Advisers LLC bought a new position in shares of Canadian Natural Resources in the 4th quarter valued at approximately $259,000. Finally, Pacifica Partners Inc. lifted its holdings in Canadian Natural Resources by 2.3% in the 4th quarter. Pacifica Partners Inc. now owns 178,856 shares of the oil and gas producer’s stock worth $5,605,000 after purchasing an additional 4,005 shares during the last quarter. 74.03% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on CNQ shares. Royal Bank of Canada restated an “outperform” rating and issued a $63.00 price objective on shares of Canadian Natural Resources in a research note on Thursday, March 27th. Tudor Pickering lowered shares of Canadian Natural Resources from a “strong-buy” rating to a “hold” rating in a research report on Monday, February 10th. Raymond James raised Canadian Natural Resources from a “market perform” rating to an “outperform” rating in a research report on Wednesday, April 9th. Evercore ISI upgraded Canadian Natural Resources from an “in-line” rating to an “outperform” rating in a research note on Friday, March 7th. Finally, Scotiabank raised Canadian Natural Resources from a “sector perform” rating to a “sector outperform” rating in a report on Wednesday, March 19th. Three equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $63.00.

Canadian Natural Resources Stock Down 2.1%

CNQ stock opened at $31.54 on Thursday. Canadian Natural Resources Limited has a twelve month low of $24.65 and a twelve month high of $38.86. The company has a quick ratio of 0.53, a current ratio of 0.84 and a debt-to-equity ratio of 0.21. The company has a market cap of $66.07 billion, a PE ratio of 12.25 and a beta of 1.04. The business’s 50-day simple moving average is $29.21 and its 200 day simple moving average is $30.77.

Canadian Natural Resources (NYSE:CNQ) (TSE:CNQ) last announced its quarterly earnings data 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. The company had revenue of $6.96 billion for the quarter, compared to analyst estimates of $10.14 billion. Canadian Natural Resources had a return on equity of 20.07% and a net margin of 18.45%. During the same quarter last year, the firm earned $1.37 EPS. On average, research analysts anticipate that Canadian Natural Resources Limited will post 2.45 earnings per share for the current year.

Canadian Natural Resources Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, July 3rd. Shareholders of record on Friday, June 13th will be issued a $0.4227 dividend. This represents a $1.69 annualized dividend and a yield of 5.36%. The ex-dividend date of this dividend is Friday, June 13th. This is a positive change from Canadian Natural Resources’s previous quarterly dividend of $0.41. Canadian Natural Resources’s payout ratio is 63.92%.

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).