Marks Group Wealth Management Inc Invests $1.02 Million in Canadian Natural Resources Limited $CNQ

Marks Group Wealth Management Inc bought a new position in shares of Canadian Natural Resources Limited (NYSE:CNQ) (TSE:CNQ) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 30,228 shares of the oil and gas producer’s stock, valued at approximately $1,023,000.

A number of other institutional investors also recently modified their holdings of the company. Capital Research Global Investors raised its position in shares of Canadian Natural Resources by 31.5% during the fourth quarter. Capital Research Global Investors now owns 146,331,336 shares of the oil and gas producer’s stock worth $4,956,204,000 after purchasing an additional 35,067,143 shares during the period. Vanguard Group Inc. raised its position in shares of Canadian Natural Resources by 0.9% during the fourth quarter. Vanguard Group Inc. now owns 93,305,198 shares of the oil and gas producer’s stock worth $3,160,340,000 after purchasing an additional 818,809 shares during the period. Fisher Asset Management LLC raised its position in shares of Canadian Natural Resources by 3.2% during the fourth quarter. Fisher Asset Management LLC now owns 42,745,981 shares of the oil and gas producer’s stock worth $1,446,951,000 after purchasing an additional 1,342,954 shares during the period. Geode Capital Management LLC raised its position in shares of Canadian Natural Resources by 7.0% during the fourth quarter. Geode Capital Management LLC now owns 20,518,621 shares of the oil and gas producer’s stock worth $710,119,000 after purchasing an additional 1,347,844 shares during the period. Finally, JPMorgan Chase & Co. raised its position in shares of Canadian Natural Resources by 1.9% during the fourth quarter. JPMorgan Chase & Co. now owns 14,308,539 shares of the oil and gas producer’s stock worth $484,344,000 after purchasing an additional 260,746 shares during the period. 74.03% of the stock is owned by institutional investors and hedge funds.

Canadian Natural Resources Trading Down 3.4%

Shares of Canadian Natural Resources stock opened at $44.72 on Wednesday. Canadian Natural Resources Limited has a 1 year low of $29.30 and a 1 year high of $51.34. The firm has a market cap of $93.08 billion, a PE ratio of 13.35 and a beta of 0.45. The stock has a fifty day moving average price of $46.62 and a 200-day moving average price of $41.18. The company has a debt-to-equity ratio of 0.37, a current ratio of 0.98 and a quick ratio of 0.68.

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 (EPS) 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 firm had revenue of $7.72 billion during the quarter, compared to analyst estimates of $7.57 billion. During the same period last year, the firm posted $1.16 EPS. Equities research analysts anticipate that Canadian Natural Resources Limited will post 4.2 EPS for the current year.

Canadian Natural Resources Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 7th. Stockholders of record on Tuesday, June 23rd will be given a dividend of $0.625 per share. The ex-dividend date of this dividend is Tuesday, June 23rd. This represents a $2.50 annualized dividend and a dividend yield of 5.6%. Canadian Natural Resources’s dividend payout ratio (DPR) is currently 54.63%.

Analysts Set New Price Targets

A number of equities research analysts recently commented on CNQ shares. Royal Bank Of Canada increased their price target on Canadian Natural Resources from $61.00 to $65.00 and gave the company an “outperform” rating in a research report on Friday, March 6th. ATB Cormark Capital Markets lowered Canadian Natural Resources from a “strong-buy” rating to a “moderate buy” rating in a research report on Thursday, March 5th. The Goldman Sachs Group increased their price target on Canadian Natural Resources from $37.00 to $49.00 and gave the company a “buy” rating in a research report on Thursday, March 12th. Zacks Research raised Canadian Natural Resources from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, May 5th. Finally, Raymond James Financial raised Canadian Natural Resources from a “market perform” rating to an “outperform” rating in a research report on Thursday, May 7th. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price 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.