Capital International Inc. CA Boosts Stock Holdings in Canadian Natural Resources Limited $CNQ

Capital International Inc. CA raised its holdings in shares of Canadian Natural Resources Limited (NYSE:CNQ) (TSE:CNQ) by 2.0% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 950,104 shares of the oil and gas producer’s stock after purchasing an additional 18,259 shares during the period. Capital International Inc. CA’s holdings in Canadian Natural Resources were worth $32,167,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Envestnet Asset Management Inc. increased its position in Canadian Natural Resources by 2.8% during the 3rd quarter. Envestnet Asset Management Inc. now owns 1,616,219 shares of the oil and gas producer’s stock valued at $51,654,000 after purchasing an additional 43,356 shares during the period. TD Waterhouse Canada Inc. increased its position in Canadian Natural Resources by 4.9% during the 4th quarter. TD Waterhouse Canada Inc. now owns 6,758,445 shares of the oil and gas producer’s stock valued at $228,729,000 after purchasing an additional 315,460 shares during the period. SCP Investment LP purchased a new position in Canadian Natural Resources during the 3rd quarter valued at about $1,144,000. Marshall Financial Group LLC purchased a new position in Canadian Natural Resources during the 4th quarter valued at about $869,000. Finally, Numerai GP LLC grew its position in shares of Canadian Natural Resources by 102.5% in the 3rd quarter. Numerai GP LLC now owns 77,164 shares of the oil and gas producer’s stock worth $2,466,000 after buying an additional 39,049 shares during the last quarter. Hedge funds and other institutional investors own 74.03% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on CNQ. Zacks Research raised shares of Canadian Natural Resources from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, May 5th. Weiss Ratings downgraded shares of Canadian Natural Resources from a “buy (b)” rating to a “buy (b-)” rating in a research report on Monday, May 11th. The Goldman Sachs Group lifted their price objective on shares of Canadian Natural Resources from $37.00 to $49.00 and gave the stock a “buy” rating in a research report on Thursday, March 12th. Scotiabank reaffirmed an “outperform” rating on shares of Canadian Natural Resources in a research report on Wednesday, May 20th. Finally, Royal Bank Of Canada lifted their price objective on shares of Canadian Natural Resources from $61.00 to $65.00 and gave the stock an “outperform” rating in a research report on Friday, March 6th. One equities 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 company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $57.00.

Canadian Natural Resources Stock Down 4.0%

Shares of Canadian Natural Resources stock opened at $45.74 on Friday. The firm’s 50 day moving average price is $46.78 and its 200-day moving average price is $40.96. The company has a quick ratio of 0.68, a current ratio of 0.98 and a debt-to-equity ratio of 0.37. Canadian Natural Resources Limited has a 52-week low of $29.30 and a 52-week high of $51.34. The company has a market cap of $95.20 billion, a P/E ratio of 13.65 and a beta of 0.45.

Canadian Natural Resources (NYSE:CNQ) (TSE:CNQ) last released 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 for the quarter, compared to the consensus estimate 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 in the previous year, the firm earned $1.16 EPS. On average, sell-side analysts predict that Canadian Natural Resources Limited will post 4.2 EPS for the current fiscal 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 given 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 payout ratio is currently 54.63%.

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.