Geode Capital Management LLC Has $710.12 Million Position in Canadian Natural Resources Limited $CNQ

Geode Capital Management LLC grew its holdings in Canadian Natural Resources Limited (NYSE:CNQ) (TSE:CNQ) by 7.0% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 20,518,621 shares of the oil and gas producer’s stock after purchasing an additional 1,347,844 shares during the quarter. Geode Capital Management LLC’s holdings in Canadian Natural Resources were worth $710,119,000 as of its most recent filing with the SEC.

A number of other institutional investors have also added to or reduced their stakes in the company. Tacita Capital Inc grew its position in Canadian Natural Resources by 6.1% during the third quarter. Tacita Capital Inc now owns 5,753 shares of the oil and gas producer’s stock worth $184,000 after buying an additional 330 shares in the last quarter. Gateway Investment Advisers LLC grew its position in Canadian Natural Resources by 1.3% during the fourth quarter. Gateway Investment Advisers LLC now owns 26,486 shares of the oil and gas producer’s stock worth $897,000 after buying an additional 330 shares in the last quarter. Rathbones Group PLC grew its position in Canadian Natural Resources by 1.3% during the fourth quarter. Rathbones Group PLC now owns 26,308 shares of the oil and gas producer’s stock worth $892,000 after buying an additional 350 shares in the last quarter. Frank Rimerman Advisors LLC grew its position in Canadian Natural Resources by 2.2% during the third quarter. Frank Rimerman Advisors LLC now owns 17,886 shares of the oil and gas producer’s stock worth $572,000 after buying an additional 390 shares in the last quarter. Finally, PDS Planning Inc grew its position in Canadian Natural Resources by 3.7% during the fourth quarter. PDS Planning Inc now owns 11,794 shares of the oil and gas producer’s stock worth $399,000 after buying an additional 420 shares in the last quarter. 74.03% of the stock is owned by institutional investors and hedge funds.

Canadian Natural Resources Stock Down 1.0%

NYSE CNQ opened at $45.37 on Friday. The company has a current ratio of 0.98, a quick ratio of 0.68 and a debt-to-equity ratio of 0.37. The stock’s 50 day moving average is $47.01 and its two-hundred day moving average is $40.46. The company has a market capitalization of $94.39 billion, a price-to-earnings ratio of 13.54 and a beta of 0.47. Canadian Natural Resources Limited has a 1-year low of $29.30 and a 1-year high of $51.34.

Canadian Natural Resources (NYSE:CNQ) (TSE:CNQ) last released its quarterly earnings data on Thursday, May 7th. The oil and gas producer reported $0.85 earnings per share for the quarter, beating analysts’ consensus estimates of $0.74 by $0.11. The company had revenue of $7.72 billion for the quarter, compared to the consensus estimate of $7.57 billion. Canadian Natural Resources had a return on equity of 17.49% and a net margin of 22.04%.During the same period in the previous year, the business earned $1.16 earnings per share. Equities analysts forecast that Canadian Natural Resources Limited will post 4.2 earnings per share for the current fiscal year.

Canadian Natural Resources Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 7th. Shareholders of record on Tuesday, June 23rd will be issued a dividend of $0.625 per share. This represents a $2.50 dividend on an annualized basis and a yield of 5.5%. The ex-dividend date of this dividend is Tuesday, June 23rd. Canadian Natural Resources’s payout ratio is presently 54.93%.

Wall Street Analyst Weigh In

CNQ has been the topic of a number of recent research reports. Royal Bank Of Canada lifted their target price on Canadian Natural Resources from $61.00 to $65.00 and gave the stock an “outperform” rating in a research report on Friday, March 6th. The Goldman Sachs Group lifted their target price on Canadian Natural Resources from $37.00 to $49.00 and gave the stock a “buy” rating in a research report on Thursday, March 12th. Raymond James Financial raised Canadian Natural Resources from a “market perform” rating to an “outperform” rating in a research report on Thursday, May 7th. ATB Cormark Capital Markets downgraded Canadian Natural Resources from a “strong-buy” rating to a “moderate buy” rating in a research report on Thursday, March 5th. Finally, Wall Street Zen raised Canadian Natural Resources from a “sell” rating to a “hold” rating in a research report on Saturday, January 31st. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $57.00.

Canadian Natural Resources Company Profile

Canadian Natural Resources Limited (NYSE: CNQ) is a Calgary-based independent oil and natural gas exploration and production company. Established in the early 1970s and publicly listed in Canada and the United States, the company is principally engaged in the exploration, development, production, and marketing of crude oil, natural gas and natural gas liquids. Its asset base spans conventional and unconventional reservoirs and includes oil sands mining and in-situ thermal projects, midstream processing and upgrading capacity, and related field operations.

The company’s operations are concentrated in Western Canada, where it develops heavy crude, bitumen from oil sands and conventional light crude and natural gas resources.