Peterson Wealth Services Makes New Investment in Canadian Natural Resources Limited (NYSE:CNQ)

Peterson Wealth Services acquired a new stake in shares of Canadian Natural Resources Limited (NYSE:CNQ) (TSE:CNQ) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 74,679 shares of the oil and gas producer’s stock, valued at approximately $4,893,000. Canadian Natural Resources comprises about 2.1% of Peterson Wealth Services’ portfolio, making the stock its 14th largest holding.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Waterfront Wealth Inc. raised its stake in shares of Canadian Natural Resources by 2.4% during the fourth quarter. Waterfront Wealth Inc. now owns 13,345 shares of the oil and gas producer’s stock valued at $874,000 after acquiring an additional 308 shares during the last quarter. Daiwa Securities Group Inc. purchased a new position in shares of Canadian Natural Resources during the fourth quarter valued at about $1,542,000. Dakota Wealth Management increased its position in shares of Canadian Natural Resources by 41.9% during the fourth quarter. Dakota Wealth Management now owns 75,338 shares of the oil and gas producer’s stock valued at $4,936,000 after buying an additional 22,250 shares during the period. Conning Inc. increased its position in shares of Canadian Natural Resources by 2.2% during the fourth quarter. Conning Inc. now owns 31,261 shares of the oil and gas producer’s stock valued at $2,048,000 after buying an additional 666 shares during the period. Finally, Vontobel Holding Ltd. increased its position in shares of Canadian Natural Resources by 23.1% during the fourth quarter. Vontobel Holding Ltd. now owns 9,400 shares of the oil and gas producer’s stock valued at $616,000 after buying an additional 1,764 shares during the period. 74.03% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Separately, JPMorgan Chase & Co. boosted their price target on shares of Canadian Natural Resources from $101.00 to $102.00 and gave the company a “neutral” rating in a research report on Thursday, January 11th. Five equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Canadian Natural Resources has a consensus rating of “Hold” and a consensus target price of $94.00.

Canadian Natural Resources Stock Up 0.2 %

CNQ traded up $0.19 during midday trading on Thursday, reaching $77.41. The company’s stock had a trading volume of 340,795 shares, compared to its average volume of 3,296,405. The firm has a market capitalization of $82.99 billion, a price-to-earnings ratio of 13.97 and a beta of 1.54. The company has a current ratio of 0.96, a quick ratio of 0.69 and a debt-to-equity ratio of 0.25. Canadian Natural Resources Limited has a 1 year low of $52.66 and a 1 year high of $82.58. The stock’s 50-day moving average is $71.89 and its 200-day moving average is $67.09.

Canadian Natural Resources (NYSE:CNQ) (TSE:CNQ) last announced its quarterly earnings data on Thursday, February 29th. The oil and gas producer reported $1.72 earnings per share for the quarter, topping analysts’ consensus estimates of $1.59 by $0.13. The business had revenue of $7.02 billion for the quarter, compared to analysts’ expectations of $6.73 billion. Canadian Natural Resources had a net margin of 20.15% and a return on equity of 21.74%. As a group, research analysts expect that Canadian Natural Resources Limited will post 5.67 EPS for the current year.

Canadian Natural Resources Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, April 5th. Shareholders of record on Friday, March 15th were issued a $0.774 dividend. This represents a $3.10 dividend on an annualized basis and a yield of 4.00%. The ex-dividend date was Thursday, March 14th. This is a boost from Canadian Natural Resources’s previous quarterly dividend of $0.72. Canadian Natural Resources’s dividend payout ratio is 53.25%.

Canadian Natural Resources Company Profile

Canadian Natural Resources Limited acquires, explores for, develops, produces, markets, and sells crude oil, natural gas, and natural gas liquids (NGLs). The company offers light and medium crude oil, primary heavy crude oil, Pelican Lake heavy crude oil, bitumen (thermal oil), and synthetic crude oil (SCO).