Swiss Life Asset Management Ltd Acquires 17,590 Shares of Canadian Natural Resources Limited $CNQ

Swiss Life Asset Management Ltd boosted its holdings in Canadian Natural Resources Limited (NYSE:CNQ) (TSE:CNQ) by 13.8% during the 3rd quarter, Holdings Channel reports. The firm owned 144,701 shares of the oil and gas producer’s stock after acquiring an additional 17,590 shares during the period. Swiss Life Asset Management Ltd’s holdings in Canadian Natural Resources were worth $4,634,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of the business. Tacita Capital Inc increased its position in shares of Canadian Natural Resources by 6.1% during the 3rd quarter. Tacita Capital Inc now owns 5,753 shares of the oil and gas producer’s stock valued at $184,000 after purchasing an additional 330 shares during the last quarter. Frank Rimerman Advisors LLC raised its stake in shares of Canadian Natural Resources by 2.2% during the 3rd quarter. Frank Rimerman Advisors LLC now owns 17,886 shares of the oil and gas producer’s stock worth $572,000 after purchasing an additional 390 shares during the period. EverSource Wealth Advisors LLC boosted its holdings in shares of Canadian Natural Resources by 9.4% in the 3rd quarter. EverSource Wealth Advisors LLC now owns 4,939 shares of the oil and gas producer’s stock worth $158,000 after buying an additional 426 shares during the last quarter. Kingsview Wealth Management LLC boosted its holdings in shares of Canadian Natural Resources by 5.7% in the 2nd quarter. Kingsview Wealth Management LLC now owns 8,109 shares of the oil and gas producer’s stock worth $255,000 after buying an additional 434 shares during the last quarter. Finally, United Capital Financial Advisors LLC grew its position in Canadian Natural Resources by 5.0% during the third quarter. United Capital Financial Advisors LLC now owns 9,193 shares of the oil and gas producer’s stock valued at $294,000 after buying an additional 436 shares during the period. Institutional investors own 74.03% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on CNQ. The Goldman Sachs Group raised their price objective on shares of Canadian Natural Resources from $37.00 to $49.00 and gave the stock a “buy” rating in a report on Thursday, March 12th. Royal Bank Of Canada boosted their target price on shares of Canadian Natural Resources from $61.00 to $65.00 and gave the company an “outperform” rating in a research note on Friday, March 6th. Evercore lowered shares of Canadian Natural Resources from an “outperform” rating to an “in-line” rating in a research note on Tuesday, January 6th. ATB Cormark Capital Markets cut shares of Canadian Natural Resources from a “strong-buy” rating to a “moderate buy” rating in a report on Thursday, March 5th. Finally, Zacks Research downgraded Canadian Natural Resources from a “hold” rating to a “strong sell” rating in a research note on Friday, March 6th. Six equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Canadian Natural Resources currently has an average rating of “Hold” and a consensus price target of $57.00.

Canadian Natural Resources Trading Down 3.0%

Shares of CNQ opened at $49.05 on Friday. Canadian Natural Resources Limited has a fifty-two week low of $24.65 and a fifty-two week high of $51.34. The business has a 50-day moving average of $40.96 and a 200 day moving average of $35.33. The firm has a market cap of $102.25 billion, a P/E ratio of 13.29 and a beta of 0.63. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.63 and a current ratio of 0.95.

Canadian Natural Resources (NYSE:CNQ) (TSE:CNQ) last released its quarterly earnings data on Thursday, March 5th. The oil and gas producer reported $0.59 EPS for the quarter, beating the consensus estimate of $0.53 by $0.06. The business had revenue of $6.89 billion for the quarter, compared to the consensus estimate of $6.64 billion. Canadian Natural Resources had a net margin of 24.48% and a return on equity of 17.84%. During the same period in the prior year, the firm earned $0.93 earnings per share. As a group, research analysts forecast that Canadian Natural Resources Limited will post 2.45 EPS for the current year.

Canadian Natural Resources Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 7th. Investors of record on Friday, March 20th will be paid a dividend of $0.625 per share. This represents a $2.50 dividend on an annualized basis and a dividend yield of 5.1%. The ex-dividend date is Friday, March 20th. This is an increase from Canadian Natural Resources’s previous quarterly dividend of $0.59. Canadian Natural Resources’s dividend payout ratio is currently 49.59%.

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.