Nordea Investment Management AB boosted its position in shares of Canadian Natural Resources Ltd (NYSE:CNQ) (TSE:CNQ) by 3.5% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 53,875 shares of the oil and gas producer’s stock after buying an additional 1,800 shares during the quarter. Nordea Investment Management AB’s holdings in Canadian Natural Resources were worth $1,976,000 at the end of the most recent reporting period.
Other hedge funds have also recently added to or reduced their stakes in the company. Bremer Trust National Association acquired a new stake in shares of Canadian Natural Resources during the fourth quarter valued at about $28,000. Icon Wealth Partners LLC acquired a new stake in shares of Canadian Natural Resources during the first quarter valued at about $28,000. Zions Bancorporation N.A. acquired a new stake in shares of Canadian Natural Resources during the first quarter valued at about $28,000. Bremer Bank National Association acquired a new stake in shares of Canadian Natural Resources during the first quarter valued at about $34,000. Finally, Cornerstone Advisors Inc. increased its position in shares of Canadian Natural Resources by 245.3% during the first quarter. Cornerstone Advisors Inc. now owns 1,806 shares of the oil and gas producer’s stock valued at $50,000 after acquiring an additional 1,283 shares during the last quarter. Institutional investors own 65.06% of the company’s stock.
A number of brokerages have weighed in on CNQ. Evercore ISI cut shares of Suncor Energy from an “outperform” rating to an “in-line” rating and dropped their price target for the company from C$58.00 to C$54.00 in a research report on Wednesday, April 3rd. Canaccord Genuity restated a “buy” rating and issued a $7.50 price objective on shares of in a report on Tuesday, July 9th. Scotiabank restated a “buy” rating on shares of Canadian Natural Resources in a report on Tuesday, April 2nd. Royal Bank of Canada restated a “sell” rating on shares of CI Financial in a report on Friday, May 10th. Finally, Raymond James restated a “buy” rating on shares of Canadian Natural Resources in a report on Friday, May 10th. Four equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $41.43.
Canadian Natural Resources (NYSE:CNQ) (TSE:CNQ) last issued its quarterly earnings data on Thursday, May 9th. The oil and gas producer reported $0.70 earnings per share for the quarter, topping the consensus estimate of $0.39 by $0.31. The business had revenue of $3.95 billion during the quarter, compared to the consensus estimate of $3.73 billion. Canadian Natural Resources had a net margin of 13.50% and a return on equity of 8.98%. During the same quarter in the previous year, the firm earned $0.71 EPS. As a group, analysts forecast that Canadian Natural Resources Ltd will post 2.3 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Monday, July 1st. Investors of record on Friday, June 14th were given a $0.2794 dividend. The ex-dividend date was Thursday, June 13th. This represents a $1.12 annualized dividend and a yield of 4.29%. Canadian Natural Resources’s dividend payout ratio (DPR) is 51.63%.
Canadian Natural Resources 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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