Goehring & Rozencwajg Associates LLC Has $137.88 Million Stock Position in Canadian Natural Resources Limited $CNQ

Goehring & Rozencwajg Associates LLC boosted its stake in Canadian Natural Resources Limited (NYSE:CNQ) (TSE:CNQ) by 48.6% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,827,853 shares of the oil and gas producer’s stock after buying an additional 925,440 shares during the quarter. Canadian Natural Resources makes up about 7.4% of Goehring & Rozencwajg Associates LLC’s investment portfolio, making the stock its largest position. Goehring & Rozencwajg Associates LLC’s holdings in Canadian Natural Resources were worth $137,877,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also recently bought and sold shares of the stock. Capital Research Global Investors lifted its holdings in shares of Canadian Natural Resources by 31.5% during the fourth quarter. Capital Research Global Investors now owns 146,331,336 shares of the oil and gas producer’s stock valued at $4,956,204,000 after acquiring an additional 35,067,143 shares during the period. Vanguard Group Inc. grew its holdings in shares of Canadian Natural Resources by 0.9% in the 4th quarter. Vanguard Group Inc. now owns 93,305,198 shares of the oil and gas producer’s stock worth $3,160,340,000 after purchasing an additional 818,809 shares during the last quarter. Fisher Asset Management LLC increased its position in shares of Canadian Natural Resources by 3.2% during the 4th quarter. Fisher Asset Management LLC now owns 42,745,981 shares of the oil and gas producer’s stock worth $1,446,951,000 after purchasing an additional 1,342,954 shares in the last quarter. Geode Capital Management LLC increased its position in shares of Canadian Natural Resources by 7.0% during the 4th quarter. Geode Capital Management LLC now owns 20,518,621 shares of the oil and gas producer’s stock worth $710,119,000 after purchasing an additional 1,347,844 shares in the last quarter. Finally, JPMorgan Chase & Co. increased its position in shares of Canadian Natural Resources by 1.9% during the 4th quarter. JPMorgan Chase & Co. now owns 14,308,539 shares of the oil and gas producer’s stock worth $484,344,000 after purchasing an additional 260,746 shares in the last quarter. 74.03% of the stock is currently owned by institutional investors.

Canadian Natural Resources Stock Up 0.4%

Shares of NYSE CNQ opened at $42.78 on Thursday. Canadian Natural Resources Limited has a 12-month low of $29.30 and a 12-month high of $51.34. The firm’s 50-day simple moving average is $44.14 and its 200 day simple moving average is $42.71. The company has a quick ratio of 0.68, a current ratio of 0.98 and a debt-to-equity ratio of 0.37. The company has a market cap of $88.81 billion, a price-to-earnings ratio of 12.77 and a beta of 0.47.

Canadian Natural Resources (NYSE:CNQ) (TSE:CNQ) last posted its quarterly earnings data on Thursday, May 7th. The oil and gas producer reported $0.85 earnings per share for the quarter, beating the consensus estimate of $0.74 by $0.11. Canadian Natural Resources had a net margin of 22.04% and a return on equity of 17.49%. The firm had revenue of $7.72 billion during the quarter, compared to analysts’ expectations of $7.57 billion. During the same quarter last year, the company posted $1.16 EPS. On average, research analysts expect 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 declared a quarterly dividend, which was paid on Tuesday, July 7th. Stockholders of record on Tuesday, June 23rd were paid a dividend of $0.625 per share. This represents a $2.50 annualized dividend and a dividend yield of 5.8%. The ex-dividend date of this dividend was Tuesday, June 23rd. Canadian Natural Resources’s dividend payout ratio is 54.03%.

Wall Street Analysts Forecast Growth

CNQ has been the topic of a number of recent analyst reports. Raymond James Financial upgraded shares of Canadian Natural Resources from a “market perform” rating to an “outperform” rating in a research report on Thursday, May 7th. Zacks Research cut shares of Canadian Natural Resources from a “strong-buy” rating to a “hold” rating in a research note on Monday, June 8th. Weiss Ratings downgraded Canadian Natural Resources from a “buy (b)” rating to a “buy (b-)” rating in a report on Monday, May 11th. Finally, Scotiabank upgraded Canadian Natural Resources to a “hold” rating in a research report on Friday, June 26th. Six research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $57.00.

Canadian Natural Resources 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.