Canadian Natural Resources Limited $CNQ Shares Purchased by Capital Research Global Investors

Capital Research Global Investors lifted its position in Canadian Natural Resources Limited (NYSE:CNQ) (TSE:CNQ) by 31.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 146,331,336 shares of the oil and gas producer’s stock after purchasing an additional 35,067,143 shares during the period. Canadian Natural Resources comprises about 0.9% of Capital Research Global Investors’ portfolio, making the stock its 22nd biggest holding. Capital Research Global Investors owned about 7.03% of Canadian Natural Resources worth $4,956,204,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in CNQ. Leonteq Securities AG acquired a new position in shares of Canadian Natural Resources in the 4th quarter valued at $31,000. GoalVest Advisory LLC acquired a new position in shares of Canadian Natural Resources in the 4th quarter valued at $32,000. Quarry LP acquired a new position in shares of Canadian Natural Resources in the 3rd quarter valued at $32,000. LOM Asset Management Ltd acquired a new position in shares of Canadian Natural Resources in the 4th quarter valued at $34,000. Finally, Boyd Watterson Asset Management LLC OH acquired a new position in shares of Canadian Natural Resources in the 4th quarter valued at $51,000. 74.03% of the stock is currently owned by institutional investors and hedge funds.

Canadian Natural Resources Stock Performance

NYSE:CNQ opened at $45.74 on Friday. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.68 and a current ratio of 0.98. The company has a fifty day moving average of $46.78 and a two-hundred day moving average of $40.96. The stock has a market capitalization of $95.20 billion, a PE ratio of 13.65 and a beta of 0.45. Canadian Natural Resources Limited has a fifty-two week low of $29.30 and a fifty-two week high of $51.34.

Canadian Natural Resources (NYSE:CNQ) (TSE:CNQ) last posted its quarterly earnings data on Thursday, May 7th. The oil and gas producer reported $0.85 earnings per share for the quarter, topping analysts’ consensus estimates of $0.74 by $0.11. The company had revenue of $7.72 billion during the quarter, compared to analysts’ expectations of $7.57 billion. Canadian Natural Resources had a net margin of 22.04% and a return on equity of 17.49%. During the same period in the prior year, the business posted $1.16 earnings per share. As a group, research analysts forecast that Canadian Natural Resources Limited will post 4.2 earnings per share for the current fiscal year.

Canadian Natural Resources Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 7th. Shareholders of record on Tuesday, June 23rd will be given a dividend of $0.625 per share. The ex-dividend date is Tuesday, June 23rd. This represents a $2.50 dividend on an annualized basis and a yield of 5.5%. Canadian Natural Resources’s dividend payout ratio is currently 54.63%.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on CNQ shares. The Goldman Sachs Group boosted their target price on shares of Canadian Natural Resources from $37.00 to $49.00 and gave the company a “buy” rating in a research note on Thursday, March 12th. Scotiabank reiterated an “outperform” rating on shares of Canadian Natural Resources in a research note on Wednesday, May 20th. Royal Bank Of Canada boosted their target price 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. Raymond James Financial upgraded shares of Canadian Natural Resources from a “market perform” rating to an “outperform” rating in a research note on Thursday, May 7th. Finally, Zacks Research upgraded shares of Canadian Natural Resources from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, May 5th. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price 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.