Canadian Natural Resources Limited $CNQ Shares Acquired by Capital Research Global Investors

Capital Research Global Investors grew its holdings in Canadian Natural Resources Limited (NYSE:CNQ) (TSE:CNQ) by 31.5% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 146,331,336 shares of the oil and gas producer’s stock after buying an additional 35,067,143 shares during the quarter. Canadian Natural Resources makes up 0.9% of Capital Research Global Investors’ holdings, making the stock its 22nd biggest holding. Capital Research Global Investors owned approximately 0.07% of Canadian Natural Resources worth $4,956,204,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Leonteq Securities AG purchased a new stake in shares of Canadian Natural Resources in the fourth quarter valued at about $31,000. GoalVest Advisory LLC purchased a new stake in shares of Canadian Natural Resources in the fourth quarter valued at about $32,000. LOM Asset Management Ltd purchased a new stake in shares of Canadian Natural Resources in the fourth quarter valued at about $34,000. Quarry LP purchased a new stake in shares of Canadian Natural Resources in the third quarter valued at about $32,000. Finally, Boyd Watterson Asset Management LLC OH purchased a new stake in shares of Canadian Natural Resources in the fourth quarter valued at about $51,000. Hedge funds and other institutional investors own 74.03% of the company’s stock.

Canadian Natural Resources Trading Down 4.0%

Shares of CNQ stock opened at $45.74 on Friday. 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 $95.20 billion, a PE ratio of 13.65 and a beta of 0.45. The company has a 50-day moving average of $46.78 and a two-hundred day moving average of $40.96. 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 announced its earnings results on Thursday, May 7th. The oil and gas producer reported $0.85 earnings per share for the quarter, topping the consensus estimate of $0.74 by $0.11. The company had revenue of $7.72 billion during the quarter, compared to analyst estimates of $7.57 billion. Canadian Natural Resources had a net margin of 22.04% and a return on equity of 17.49%. During the same quarter last year, the firm posted $1.16 earnings per share. On average, analysts predict that Canadian Natural Resources Limited will post 4.2 EPS for the current year.

Canadian Natural Resources Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 7th. Shareholders of record on Tuesday, June 23rd will be paid a dividend of $0.625 per share. This represents a $2.50 annualized dividend and a yield of 5.5%. The ex-dividend date of this dividend is Tuesday, June 23rd. Canadian Natural Resources’s dividend payout ratio (DPR) is 54.63%.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the stock. Weiss Ratings lowered shares of Canadian Natural Resources from a “buy (b)” rating to a “buy (b-)” rating in a report on Monday, May 11th. The Goldman Sachs Group upped their price objective on shares of Canadian Natural Resources from $37.00 to $49.00 and gave the company a “buy” rating in a report on Thursday, March 12th. Scotiabank reissued an “outperform” rating on shares of Canadian Natural Resources in a report on Wednesday, May 20th. Royal Bank Of Canada upped their price objective on shares of Canadian Natural Resources from $61.00 to $65.00 and gave the company an “outperform” rating in a report on Friday, March 6th. Finally, Raymond James Financial raised shares of Canadian Natural Resources from a “market perform” rating to an “outperform” rating in a report on Thursday, May 7th. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and four have issued a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus 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.