MAI Capital Management Invests $430,000 in Canadian Natural Resources Limited (NYSE:CNQ)

MAI Capital Management purchased a new position in Canadian Natural Resources Limited (NYSE:CNQGet Rating) (TSE:CNQ) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 10,172 shares of the oil and gas producer’s stock, valued at approximately $430,000.

Other institutional investors have also recently added to or reduced their stakes in the company. AdvisorNet Financial Inc bought a new position in shares of Canadian Natural Resources in the fourth quarter worth $25,000. Lindbrook Capital LLC increased its stake in Canadian Natural Resources by 106.0% in the fourth quarter. Lindbrook Capital LLC now owns 853 shares of the oil and gas producer’s stock valued at $36,000 after acquiring an additional 439 shares during the last quarter. TCTC Holdings LLC bought a new position in Canadian Natural Resources in the fourth quarter valued at $36,000. Cordasco Financial Network increased its stake in Canadian Natural Resources by 32.2% in the third quarter. Cordasco Financial Network now owns 1,190 shares of the oil and gas producer’s stock valued at $43,000 after acquiring an additional 290 shares during the last quarter. Finally, Harel Insurance Investments & Financial Services Ltd. bought a new position in Canadian Natural Resources in the fourth quarter valued at $66,000. 68.45% of the stock is currently owned by hedge funds and other institutional investors.

Canadian Natural Resources stock opened at $61.84 on Friday. The company has a current ratio of 0.75, a quick ratio of 0.57 and a debt-to-equity ratio of 0.29. Canadian Natural Resources Limited has a 1-year low of $29.53 and a 1-year high of $70.60. The firm has a 50-day moving average of $62.60 and a 200-day moving average of $52.77. The firm has a market cap of $71.44 billion, a P/E ratio of 9.77, a P/E/G ratio of 0.40 and a beta of 1.53.

Canadian Natural Resources (NYSE:CNQGet Rating) (TSE:CNQ) last issued its quarterly earnings data on Thursday, May 5th. The oil and gas producer reported $2.26 EPS for the quarter, topping the consensus estimate of $1.94 by $0.32. Canadian Natural Resources had a net margin of 24.71% and a return on equity of 26.32%. The business had revenue of $8.43 billion during the quarter, compared to analyst estimates of $7.12 billion. Research analysts forecast that Canadian Natural Resources Limited will post 8.23 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 5th. Shareholders of record on Friday, June 17th will be issued a $0.583 dividend. The ex-dividend date is Thursday, June 16th. This represents a $2.33 annualized dividend and a yield of 3.77%. Canadian Natural Resources’s dividend payout ratio (DPR) is presently 37.44%.

A number of research analysts recently commented on CNQ shares. Desjardins increased their target price on Canadian Natural Resources from C$75.00 to C$85.00 in a research note on Monday, March 7th. Credit Suisse Group increased their target price on Canadian Natural Resources from C$85.00 to C$93.00 in a research note on Monday, May 9th. TD Securities raised their price objective on Canadian Natural Resources from C$90.00 to C$94.00 in a research note on Friday, May 6th. BMO Capital Markets raised their price objective on Canadian Natural Resources from C$92.00 to C$95.00 in a research note on Friday, May 6th. Finally, CIBC raised their price objective on Canadian Natural Resources from C$80.00 to C$90.00 in a research note on Thursday, April 14th. Five analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Buy” and a consensus target price of $78.35.

Canadian Natural Resources Profile (Get Rating)

Canadian Natural Resources Limited acquires, explores for, develops, produces, markets, and sells crude oil, natural gas, and natural gas liquids (NGLs). The company offers synthetic crude oil (SCO), light and medium crude oil, bitumen (thermal oil), primary heavy crude oil, and Pelican Lake heavy crude oil.

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Institutional Ownership by Quarter for Canadian Natural Resources (NYSE:CNQ)

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