Burkett Asset Management Ltd Purchases New Shares in Canadian Natural Resources Limited $CNQ

Burkett Asset Management Ltd purchased a new stake in shares of Canadian Natural Resources Limited (NYSE:CNQ) (TSE:CNQ) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 118,568 shares of the oil and gas producer’s stock, valued at approximately $4,022,000. Canadian Natural Resources makes up about 4.1% of Burkett Asset Management Ltd’s investment portfolio, making the stock its 9th largest position.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Ted Buchan & Co lifted its holdings in Canadian Natural Resources by 0.6% during the fourth quarter. Ted Buchan & Co now owns 43,814 shares of the oil and gas producer’s stock worth $1,483,000 after acquiring an additional 260 shares in the last quarter. FDx Advisors Inc. lifted its holdings in Canadian Natural Resources by 2.7% during the fourth quarter. FDx Advisors Inc. now owns 10,312 shares of the oil and gas producer’s stock worth $349,000 after acquiring an additional 270 shares in the last quarter. Tacita Capital Inc lifted its holdings in Canadian Natural Resources by 6.1% during the third quarter. Tacita Capital Inc now owns 5,753 shares of the oil and gas producer’s stock worth $184,000 after acquiring an additional 330 shares in the last quarter. Gateway Investment Advisers LLC lifted its holdings in Canadian Natural Resources by 1.3% during the fourth quarter. Gateway Investment Advisers LLC now owns 26,486 shares of the oil and gas producer’s stock worth $897,000 after acquiring an additional 330 shares in the last quarter. Finally, Rathbones Group PLC lifted its holdings in Canadian Natural Resources by 1.3% during the fourth quarter. Rathbones Group PLC now owns 26,308 shares of the oil and gas producer’s stock worth $892,000 after acquiring an additional 350 shares in the last quarter. 74.03% of the stock is owned by institutional investors and hedge funds.

Canadian Natural Resources Stock Performance

Shares of Canadian Natural Resources stock opened at $45.47 on Friday. The firm has a market cap of $94.64 billion, a price-to-earnings ratio of 13.57 and a beta of 0.45. The stock’s 50-day moving average is $46.48 and its 200-day moving average is $41.34. Canadian Natural Resources Limited has a one year low of $29.30 and a one year high of $51.34. The company has a debt-to-equity ratio of 0.37, a current ratio of 0.98 and a quick ratio of 0.68.

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 EPS for the quarter, beating analysts’ consensus estimates of $0.74 by $0.11. The company had revenue of $7.72 billion for the quarter, compared to analyst estimates 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 in the previous year, the company posted $1.16 earnings per share. Equities analysts predict that Canadian Natural Resources Limited will post 4.2 earnings per share for the current fiscal year.

Canadian Natural Resources Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 7th. Investors of record on Tuesday, June 23rd will be given a $0.625 dividend. The ex-dividend date of this dividend is Tuesday, June 23rd. This represents a $2.50 dividend on an annualized basis and a dividend yield of 5.5%. Canadian Natural Resources’s payout ratio is currently 54.03%.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on CNQ shares. 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. Royal Bank Of Canada boosted their price target on Canadian Natural Resources from $61.00 to $65.00 and gave the company an “outperform” rating in a report on Friday, March 6th. Finally, Zacks Research lowered Canadian Natural Resources from a “strong-buy” rating to a “hold” rating in a report on Monday. Seven investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus 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.