Investors Research Corp Invests $465,000 in Canadian Natural Resource Ltd (CNQ) Stock
Investors Research Corp purchased a new stake in shares of Canadian Natural Resource Ltd (NYSE:CNQ) (TSE:CNQ) in the fourth quarter, Holdings Channel reports. The firm purchased 13,026 shares of the oil and gas producer’s stock, valued at approximately $465,000.
Other hedge funds also recently added to or reduced their stakes in the company. Calton & Associates Inc. acquired a new position in Canadian Natural Resource during the 4th quarter valued at about $178,000. Lucas Capital Management acquired a new position in Canadian Natural Resource during the 3rd quarter valued at about $203,000. Eqis Capital Management Inc. acquired a new position in Canadian Natural Resource during the 4th quarter valued at about $205,000. Cubist Systematic Strategies LLC boosted its stake in Canadian Natural Resource by 1,129.0% during the 3rd quarter. Cubist Systematic Strategies LLC now owns 6,145 shares of the oil and gas producer’s stock valued at $206,000 after purchasing an additional 5,645 shares during the last quarter. Finally, Royal Bank of Scotland Group PLC acquired a new position in Canadian Natural Resource during the 4th quarter valued at about $210,000. Institutional investors and hedge funds own 59.77% of the company’s stock.
A number of research firms have issued reports on CNQ. Canaccord Genuity reiterated a “buy” rating and set a $53.00 price target on shares of Canadian Natural Resource in a research note on Wednesday, November 8th. Wells Fargo & Co downgraded Canadian Natural Resource from an “outperform” rating to a “market perform” rating in a research note on Tuesday, February 6th. Zacks Investment Research downgraded Canadian Natural Resource from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, February 14th. Morgan Stanley lifted their price target on Canadian Natural Resource from $52.00 to $58.00 and gave the company an “overweight” rating in a research note on Wednesday, January 24th. Finally, AltaCorp Capital restated a “buy” rating and issued a $52.00 target price on shares of Canadian Natural Resource in a research note on Monday, January 15th. One analyst has rated the stock with a sell rating, four have assigned a hold rating, five have issued a buy rating and one has given a strong buy rating to the stock. The stock currently has an average rating of “Buy” and an average price target of $47.71.
The firm also recently announced a quarterly dividend, which will be paid on Sunday, April 1st. Stockholders of record on Friday, March 16th will be paid a $0.261 dividend. This represents a $1.04 dividend on an annualized basis and a dividend yield of 3.38%. The ex-dividend date is Thursday, March 15th. This is an increase from Canadian Natural Resource’s previous quarterly dividend of $0.21. Canadian Natural Resource’s payout ratio is presently 0.28%.
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About Canadian Natural Resource
Canadian Natural Resources Limited is an independent crude oil and natural gas exploration, development and production company. The Company’s segments include Exploration and Production, Oil Sands Mining and Upgrading, and Midstream. The Exploration and Production segment includes exploration, development, production and marketing of crude oil, natural gas liquids (NGLs) and natural gas.
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