Canadian Natural Resources Limited $CNQ Shares Acquired by Geode Capital Management LLC

Geode Capital Management LLC boosted its holdings in Canadian Natural Resources Limited (NYSE:CNQ) (TSE:CNQ) by 7.0% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 20,518,621 shares of the oil and gas producer’s stock after acquiring an additional 1,347,844 shares during the quarter. Geode Capital Management LLC owned 0.99% of Canadian Natural Resources worth $710,119,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in CNQ. Leonteq Securities AG bought a new stake in shares of Canadian Natural Resources during the 4th quarter worth $31,000. GoalVest Advisory LLC acquired a new stake in shares of Canadian Natural Resources in the fourth quarter worth $32,000. LOM Asset Management Ltd purchased a new stake in shares of Canadian Natural Resources during the fourth quarter worth $34,000. Quarry LP purchased a new stake in shares of Canadian Natural Resources during the third quarter worth $32,000. Finally, Boyd Watterson Asset Management LLC OH purchased a new stake in shares of Canadian Natural Resources during the fourth quarter worth $51,000. 74.03% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts have weighed in on the company. Zacks Research upgraded Canadian Natural Resources from a “hold” rating to a “strong-buy” rating in a report on Tuesday, May 5th. Raymond James Financial upgraded Canadian Natural Resources from a “market perform” rating to an “outperform” rating in a report on Thursday, May 7th. Weiss Ratings lowered Canadian Natural Resources from a “buy (b)” rating to a “buy (b-)” rating in a report on Monday, May 11th. ATB Cormark Capital Markets lowered Canadian Natural Resources from a “strong-buy” rating to a “moderate buy” rating in a report on Thursday, March 5th. Finally, Wall Street Zen upgraded Canadian Natural Resources from a “sell” rating to a “hold” rating in a report on Saturday, January 31st. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $57.00.

Canadian Natural Resources Trading Down 1.0%

Shares of NYSE:CNQ opened at $45.37 on Friday. The company has a market cap of $94.39 billion, a P/E ratio of 13.54 and a beta of 0.47. The stock’s 50-day moving average is $47.01 and its 200-day moving average is $40.46. Canadian Natural Resources Limited has a 52-week low of $29.30 and a 52-week high of $51.34. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.68 and a current ratio of 0.98.

Canadian Natural Resources (NYSE:CNQ) (TSE:CNQ) last issued its quarterly earnings results on Thursday, May 7th. The oil and gas producer reported $0.85 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.74 by $0.11. The company had revenue of $7.72 billion for the quarter, compared to the consensus estimate of $7.57 billion. Canadian Natural Resources had a return on equity of 17.49% and a net margin of 22.04%.During the same period last year, the business posted $1.16 earnings per share. Equities research analysts predict that Canadian Natural Resources Limited will post 4.2 earnings per share for the current year.

Canadian Natural Resources Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 7th. Stockholders of record on Tuesday, June 23rd will be given a $0.625 dividend. This represents a $2.50 annualized dividend and a dividend yield of 5.5%. The ex-dividend date of this dividend is Tuesday, June 23rd. Canadian Natural Resources’s dividend payout ratio (DPR) is currently 54.93%.

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.