New England Research & Management Inc. Makes New $410,000 Investment in Canadian Natural Resources Limited $CNQ

New England Research & Management Inc. purchased a new position in Canadian Natural Resources Limited (NYSE:CNQ) (TSE:CNQ) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 12,100 shares of the oil and gas producer’s stock, valued at approximately $410,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Harbour Capital Advisors LLC purchased a new stake in shares of Canadian Natural Resources during the fourth quarter valued at $385,000. GoalVest Advisory LLC bought a new stake in Canadian Natural Resources in the 4th quarter worth about $32,000. Finivi Inc. raised its position in Canadian Natural Resources by 3.2% in the 3rd quarter. Finivi Inc. now owns 28,936 shares of the oil and gas producer’s stock worth $925,000 after buying an additional 895 shares during the last quarter. Mirabella Financial Services LLP raised its position in Canadian Natural Resources by 31.6% in the 3rd quarter. Mirabella Financial Services LLP now owns 31,331 shares of the oil and gas producer’s stock worth $1,002,000 after buying an additional 7,525 shares during the last quarter. Finally, Allworth Financial LP lifted its stake in Canadian Natural Resources by 33.1% during the 3rd quarter. Allworth Financial LP now owns 8,871 shares of the oil and gas producer’s stock valued at $284,000 after acquiring an additional 2,204 shares during the period. 74.03% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

CNQ has been the topic of a number of recent analyst reports. Desjardins downgraded shares of Canadian Natural Resources from a “buy” rating to a “hold” rating in a report on Monday, November 24th. 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. Wall Street Zen upgraded shares of Canadian Natural Resources from a “sell” rating to a “hold” rating in a research report on Saturday, January 31st. Evercore cut shares of Canadian Natural Resources from an “outperform” rating to an “in-line” rating in a report on Tuesday, January 6th. Finally, The Goldman Sachs Group lifted their target price on shares of Canadian Natural Resources from $37.00 to $49.00 and gave the stock a “buy” rating in a research report on Thursday, March 12th. Six analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $57.00.

Canadian Natural Resources Stock Down 3.0%

CNQ stock opened at $49.05 on Friday. The company has a market cap of $102.25 billion, a price-to-earnings 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. The business’s 50-day moving average is $40.96 and its two-hundred day moving average is $35.33. Canadian Natural Resources Limited has a fifty-two week low of $24.65 and a fifty-two week high of $51.34.

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

Canadian Natural Resources Increases Dividend

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

Canadian Natural Resources 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.