Rockefeller Capital Management L.P. acquired a new position in Canadian Natural Resources Ltd (NYSE:CNQ) (TSE:CNQ) in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm acquired 36,829 shares of the oil and gas producer’s stock, valued at approximately $1,013,000.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. IFP Advisors Inc lifted its holdings in Canadian Natural Resources by 71.7% in the 4th quarter. IFP Advisors Inc now owns 1,042 shares of the oil and gas producer’s stock worth $25,000 after buying an additional 435 shares during the period. Bremer Trust National Association purchased a new stake in Canadian Natural Resources in the 4th quarter worth approximately $28,000. Icon Wealth Partners LLC purchased a new stake in Canadian Natural Resources in the 1st quarter worth approximately $28,000. Zions Bancorporation N.A. purchased a new stake in Canadian Natural Resources in the 1st quarter worth approximately $28,000. Finally, Bremer Bank National Association purchased a new stake in Canadian Natural Resources in the 1st quarter worth approximately $34,000. Institutional investors and hedge funds own 64.83% of the company’s stock.
NYSE CNQ traded down $0.01 on Monday, hitting $26.97. 1,755,200 shares of the company traded hands, compared to its average volume of 2,932,225. The firm has a market cap of $32.86 billion, a P/E ratio of 12.54, a price-to-earnings-growth ratio of 2.03 and a beta of 1.15. The company has a quick ratio of 0.57, a current ratio of 0.76 and a debt-to-equity ratio of 0.60. The business has a 50 day simple moving average of $26.96. Canadian Natural Resources Ltd has a 52-week low of $21.85 and a 52-week high of $37.41.
The firm also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Friday, June 14th will be issued a dividend of $0.2794 per share. The ex-dividend date of this dividend is Thursday, June 13th. This represents a $1.12 dividend on an annualized basis and a yield of 4.14%. Canadian Natural Resources’s dividend payout ratio is presently 51.63%.
Several equities research analysts have weighed in on CNQ shares. Zacks Investment Research upgraded Canadian Natural Resources from a “strong sell” rating to a “hold” rating in a report on Wednesday, April 10th. ValuEngine lowered Canadian Natural Resources from a “hold” rating to a “sell” rating in a research report on Tuesday, March 5th. Scotiabank reissued a “buy” rating on shares of Canadian Natural Resources in a research report on Tuesday, April 2nd. Royal Bank of Canada reissued a “buy” rating on shares of Canadian Natural Resources in a research report on Tuesday, March 5th. Finally, Mizuho assumed coverage on Canadian Natural Resources in a research report on Monday, March 11th. They issued a “buy” rating and a $45.00 target price for the company. Four equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of $41.09.
Canadian Natural Resources Company Profile
Canadian Natural Resources Limited explores for, develops, produces, and markets crude oil, natural gas, and natural gas liquids (NGLs). The company offers synthetic crude oil (SCO), light and medium crude oil, bitumen (thermal oil), primary heavy crude oil, and Pelican Lake heavy crude oil. Its midstream assets include two crude oil pipeline systems; and a 50% working interest in an 84-megawatt cogeneration plant at Primrose.
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