Cary Street Partners Financial LLC Takes $366,000 Position in Canadian Natural Resources Limited (NYSE:CNQ)

Cary Street Partners Financial LLC acquired a new position in Canadian Natural Resources Limited (NYSE:CNQ) (TSE:CNQ) in the 4th quarter, HoldingsChannel reports. The fund acquired 11,862 shares of the oil and gas producer’s stock, valued at approximately $366,000.

Other institutional investors have also added to or reduced their stakes in the company. FMR LLC raised its position in shares of Canadian Natural Resources by 8.7% in the fourth quarter. FMR LLC now owns 92,550,104 shares of the oil and gas producer’s stock valued at $2,857,337,000 after purchasing an additional 7,372,718 shares during the period. Vanguard Group Inc. grew its position in shares of Canadian Natural Resources by 0.5% in the fourth quarter. Vanguard Group Inc. now owns 90,002,235 shares of the oil and gas producer’s stock valued at $2,778,729,000 after purchasing an additional 456,814 shares in the last quarter. Fisher Asset Management LLC raised its stake in shares of Canadian Natural Resources by 1.3% during the 4th quarter. Fisher Asset Management LLC now owns 44,131,266 shares of the oil and gas producer’s stock valued at $1,362,332,000 after purchasing an additional 550,242 shares during the period. Canada Pension Plan Investment Board boosted its stake in Canadian Natural Resources by 5.3% in the 4th quarter. Canada Pension Plan Investment Board now owns 36,963,702 shares of the oil and gas producer’s stock worth $1,139,753,000 after purchasing an additional 1,844,700 shares during the period. Finally, T. Rowe Price Investment Management Inc. increased its position in shares of Canadian Natural Resources by 7.3% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 34,052,775 shares of the oil and gas producer’s stock valued at $1,051,210,000 after buying an additional 2,312,437 shares during the period. 74.03% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the stock. Royal Bank of Canada reaffirmed an “outperform” rating and set a $63.00 price objective on shares of Canadian Natural Resources in a research note on Thursday, March 27th. Tudor Pickering cut Canadian Natural Resources from a “strong-buy” rating to a “hold” rating in a research report on Monday, February 10th. Evercore ISI raised Canadian Natural Resources from an “in-line” rating to an “outperform” rating in a report on Friday, March 7th. Raymond James raised Canadian Natural Resources from a “market perform” rating to an “outperform” rating in a report on Wednesday, April 9th. Finally, Scotiabank raised shares of Canadian Natural Resources from a “sector perform” rating to a “sector outperform” rating in a research note on Wednesday, March 19th. Three equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, Canadian Natural Resources currently has a consensus rating of “Moderate Buy” and an average target price of $63.00.

Canadian Natural Resources Price Performance

Shares of Canadian Natural Resources stock opened at $30.53 on Friday. The firm has a market capitalization of $64.04 billion, a PE ratio of 11.86 and a beta of 1.04. The company has a current ratio of 0.84, a quick ratio of 0.53 and a debt-to-equity ratio of 0.21. Canadian Natural Resources Limited has a 12 month low of $24.65 and a 12 month high of $39.20. The business’s 50-day moving average price is $28.98 and its 200-day moving average price is $30.84.

Canadian Natural Resources (NYSE:CNQ) (TSE:CNQ) last issued its quarterly earnings results on Thursday, May 8th. The oil and gas producer reported $0.81 EPS for the quarter, beating analysts’ consensus estimates of $0.73 by $0.08. The business had revenue of $6.96 billion for the quarter, compared to analysts’ expectations of $10.14 billion. Canadian Natural Resources had a net margin of 18.45% and a return on equity of 20.07%. During the same period last year, the business earned $1.37 earnings per share. Sell-side analysts forecast that Canadian Natural Resources Limited will post 2.45 EPS for the current fiscal 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 paid a $0.4227 dividend. The ex-dividend date of this dividend is Friday, June 13th. This is an increase from Canadian Natural Resources’s previous quarterly dividend of $0.41. This represents a $1.69 annualized dividend and a yield of 5.54%. Canadian Natural Resources’s payout ratio is currently 77.88%.

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).