Harbour Capital Advisors LLC Takes $385,000 Position in Canadian Natural Resources Limited $CNQ

Harbour Capital Advisors LLC purchased a new position in shares of Canadian Natural Resources Limited (NYSE:CNQ) (TSE:CNQ) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 11,225 shares of the oil and gas producer’s stock, valued at approximately $385,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Picton Mahoney Asset Management bought a new stake in shares of Canadian Natural Resources in the 2nd quarter valued at about $162,575,000. The Manufacturers Life Insurance Company raised its position in shares of Canadian Natural Resources by 10.3% during the second quarter. The Manufacturers Life Insurance Company now owns 27,359,777 shares of the oil and gas producer’s stock worth $855,414,000 after acquiring an additional 2,546,233 shares during the last quarter. Fisher Asset Management LLC raised its position in shares of Canadian Natural Resources by 4.5% during the second quarter. Fisher Asset Management LLC now owns 47,939,585 shares of the oil and gas producer’s stock worth $1,505,303,000 after acquiring an additional 2,051,714 shares during the last quarter. Vanguard Group Inc. lifted its stake in shares of Canadian Natural Resources by 1.9% in the third quarter. Vanguard Group Inc. now owns 92,486,389 shares of the oil and gas producer’s stock worth $2,957,252,000 after acquiring an additional 1,744,290 shares during the period. Finally, Bank of America Corp DE boosted its holdings in Canadian Natural Resources by 17.6% in the third quarter. Bank of America Corp DE now owns 9,172,873 shares of the oil and gas producer’s stock valued at $293,165,000 after acquiring an additional 1,371,122 shares during the last quarter. Institutional investors and hedge funds own 74.03% of the company’s stock.

Canadian Natural Resources Price Performance

Shares of NYSE CNQ opened at $49.05 on Friday. The firm’s 50-day moving average price is $40.96 and its 200-day moving average price is $35.33. Canadian Natural Resources Limited has a 1-year low of $24.65 and a 1-year high of $51.34. The firm has a market capitalization of $102.25 billion, a P/E ratio of 13.29 and a beta of 0.63. The company has a current ratio of 0.95, a quick ratio of 0.63 and a debt-to-equity ratio of 0.36.

Canadian Natural Resources (NYSE:CNQ) (TSE:CNQ) last announced its quarterly earnings data on Thursday, March 5th. The oil and gas producer reported $0.59 EPS for the quarter, beating analysts’ consensus estimates of $0.53 by $0.06. The firm had revenue of $6.89 billion during the quarter, compared to analysts’ expectations of $6.64 billion. Canadian Natural Resources had a return on equity of 17.84% and a net margin of 24.48%.During the same quarter last year, the firm posted $0.93 earnings per share. Equities research analysts anticipate that Canadian Natural Resources Limited will post 2.45 earnings per share for the current fiscal year.

Canadian Natural Resources Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 7th. Shareholders of record on Friday, March 20th will be paid a $0.625 dividend. This is a positive change from Canadian Natural Resources’s previous quarterly dividend of $0.59. The ex-dividend date is Friday, March 20th. This represents a $2.50 annualized dividend and a yield of 5.1%. Canadian Natural Resources’s dividend payout ratio (DPR) is 49.59%.

Analyst Ratings Changes

A number of research firms have recently commented on CNQ. Royal Bank Of Canada upped their price objective 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. The Goldman Sachs Group upped their price target on shares of Canadian Natural Resources from $37.00 to $49.00 and gave the company a “buy” rating in a research report on Thursday, March 12th. Evercore lowered Canadian Natural Resources from an “outperform” rating to an “in-line” rating in a research report on Tuesday, January 6th. Wall Street Zen upgraded Canadian Natural Resources from a “sell” rating to a “hold” rating in a research report on Saturday, January 31st. Finally, ATB Cormark Capital Markets downgraded Canadian Natural Resources from a “strong-buy” rating to a “moderate buy” rating in a report on Thursday, March 5th. Six research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target 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.