Canadian Natural Resources Limited $CNQ Shares Purchased by Geode Capital Management LLC

Geode Capital Management LLC boosted its position in shares of Canadian Natural Resources Limited (NYSE:CNQ) (TSE:CNQ) by 19.8% during the 2nd quarter, HoldingsChannel reports. The institutional investor owned 17,146,792 shares of the oil and gas producer’s stock after acquiring an additional 2,832,155 shares during the quarter. Geode Capital Management LLC’s holdings in Canadian Natural Resources were worth $548,214,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also modified their holdings of the business. MAI Capital Management boosted its stake in Canadian Natural Resources by 9.6% during the 1st quarter. MAI Capital Management now owns 4,365 shares of the oil and gas producer’s stock worth $134,000 after purchasing an additional 382 shares during the period. Haven Private LLC grew its holdings in shares of Canadian Natural Resources by 3.4% during the second quarter. Haven Private LLC now owns 11,617 shares of the oil and gas producer’s stock worth $365,000 after buying an additional 383 shares during the last quarter. King Luther Capital Management Corp increased its position in Canadian Natural Resources by 1.2% in the 2nd quarter. King Luther Capital Management Corp now owns 32,283 shares of the oil and gas producer’s stock valued at $1,014,000 after acquiring an additional 387 shares during the period. Thurston Springer Miller Herd & Titak Inc. raised its stake in Canadian Natural Resources by 8.7% during the 2nd quarter. Thurston Springer Miller Herd & Titak Inc. now owns 5,613 shares of the oil and gas producer’s stock valued at $176,000 after acquiring an additional 448 shares during the last quarter. Finally, Verdence Capital Advisors LLC grew its stake in shares of Canadian Natural Resources by 0.8% in the 2nd quarter. Verdence Capital Advisors LLC now owns 58,891 shares of the oil and gas producer’s stock valued at $1,849,000 after purchasing an additional 460 shares during the last quarter. 74.03% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on CNQ shares. Scotiabank reaffirmed an “outperform” rating on shares of Canadian Natural Resources in a report on Thursday, October 9th. Royal Bank Of Canada restated an “outperform” rating and issued a $62.00 target price on shares of Canadian Natural Resources in a research note on Wednesday, September 24th. Raymond James Financial reaffirmed an “outperform” rating on shares of Canadian Natural Resources in a report on Friday, August 8th. Wells Fargo & Company raised shares of Canadian Natural Resources to a “hold” rating in a report on Thursday, October 16th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Canadian Natural Resources in a research report on Wednesday, October 8th. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $62.00.

Canadian Natural Resources Stock Performance

NYSE:CNQ opened at $33.54 on Friday. The firm’s fifty day simple moving average is $31.74 and its 200-day simple moving average is $31.36. The company has a quick ratio of 0.54, a current ratio of 0.85 and a debt-to-equity ratio of 0.38. The stock has a market cap of $69.86 billion, a PE ratio of 11.89 and a beta of 0.96. Canadian Natural Resources Limited has a fifty-two week low of $24.65 and a fifty-two week high of $34.97.

Canadian Natural Resources (NYSE:CNQ) (TSE:CNQ) last announced its quarterly earnings data on Thursday, November 6th. The oil and gas producer reported $0.62 EPS for the quarter, beating the consensus estimate of $0.54 by $0.08. Canadian Natural Resources had a net margin of 19.00% and a return on equity of 19.67%. The firm had revenue of $6.79 billion during the quarter, compared to analysts’ expectations of $6.81 billion. During the same quarter last year, the business earned $0.97 earnings per share. Analysts expect that Canadian Natural Resources Limited will post 2.45 earnings per share for the current fiscal year.

Canadian Natural Resources Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, January 6th. Investors of record on Friday, December 12th will be issued a $0.5875 dividend. The ex-dividend date is Friday, December 12th. This represents a $2.35 dividend on an annualized basis and a dividend yield of 7.0%. This is an increase from Canadian Natural Resources’s previous quarterly dividend of $0.43. Canadian Natural Resources’s payout ratio is currently 73.89%.

Canadian Natural Resources Company 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).