Pacific Heights Asset Management LLC Has $18.62 Million Stock Position in Canadian Natural Resources Limited $CNQ

Pacific Heights Asset Management LLC boosted its position in shares of Canadian Natural Resources Limited (NYSE:CNQ) (TSE:CNQ) by 10.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 550,000 shares of the oil and gas producer’s stock after purchasing an additional 50,000 shares during the period. Pacific Heights Asset Management LLC’s holdings in Canadian Natural Resources were worth $18,618,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of CNQ. Nisa Investment Advisors LLC boosted its position in Canadian Natural Resources by 100.0% during the third quarter. Nisa Investment Advisors LLC now owns 1,000 shares of the oil and gas producer’s stock valued at $32,000 after purchasing an additional 500 shares during the last quarter. GoalVest Advisory LLC acquired a new stake in Canadian Natural Resources during the fourth quarter valued at $32,000. Quarry LP acquired a new stake in Canadian Natural Resources during the third quarter valued at $32,000. LOM Asset Management Ltd acquired a new stake in Canadian Natural Resources during the fourth quarter valued at $34,000. Finally, Boyd Watterson Asset Management LLC OH acquired a new stake in Canadian Natural Resources during the fourth quarter valued at $51,000. Institutional investors and hedge funds own 74.03% of the company’s stock.

Canadian Natural Resources Price Performance

NYSE CNQ opened at $47.99 on Monday. Canadian Natural Resources Limited has a fifty-two week low of $29.30 and a fifty-two week high of $51.34. The stock’s 50-day moving average is $46.97 and its two-hundred day moving average is $39.40. The company has a debt-to-equity ratio of 0.37, a current ratio of 0.98 and a quick ratio of 0.68. The firm has a market cap of $99.83 billion, a P/E ratio of 14.32 and a beta of 0.47.

Canadian Natural Resources (NYSE:CNQ) (TSE:CNQ) last posted its earnings results 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 return on equity of 17.49% and a net margin of 22.04%.The company had revenue of $7.72 billion for the quarter, compared to analyst estimates of $7.57 billion. During the same period last year, the company earned $1.16 earnings per share. On average, analysts anticipate that Canadian Natural Resources Limited will post 4.09 earnings per share for the current fiscal year.

Canadian Natural Resources Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 7th. Stockholders of record on Tuesday, June 23rd will be paid a $0.625 dividend. The ex-dividend date is Tuesday, June 23rd. This represents a $2.50 dividend on an annualized basis and a dividend yield of 5.2%. Canadian Natural Resources’s payout ratio is presently 54.63%.

Wall Street Analyst Weigh In

CNQ has been the subject of a number of research reports. Weiss Ratings cut Canadian Natural Resources from a “buy (b)” rating to a “buy (b-)” rating in a research report on Monday, May 11th. ATB Cormark Capital Markets lowered Canadian Natural Resources from a “strong-buy” rating to a “moderate buy” rating in a report on Thursday, March 5th. Wall Street Zen upgraded Canadian Natural Resources from a “sell” rating to a “hold” rating in a report on Saturday, January 31st. Royal Bank Of Canada raised their target price on Canadian Natural Resources from $61.00 to $65.00 and gave the company an “outperform” rating in a report on Friday, March 6th. Finally, The Goldman Sachs Group raised their target price on Canadian Natural Resources from $37.00 to $49.00 and gave the company a “buy” rating in a report on Thursday, March 12th. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus 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.