Brooklands Fund Management Ltd Makes New Investment in Canadian Natural Resources Limited $CNQ

Brooklands Fund Management Ltd purchased a new position in shares of Canadian Natural Resources Limited (NYSE:CNQ) (TSE:CNQ) during the 4th quarter, Holdings Channel.com reports. The fund purchased 143,911 shares of the oil and gas producer’s stock, valued at approximately $5,355,000. Canadian Natural Resources accounts for about 0.7% of Brooklands Fund Management Ltd’s holdings, making the stock its 8th largest position.

Several other institutional investors have also recently made changes to their positions in CNQ. Capital Research Global Investors increased its holdings in shares of Canadian Natural Resources by 31.5% during the 4th quarter. Capital Research Global Investors now owns 146,331,336 shares of the oil and gas producer’s stock worth $4,956,204,000 after acquiring an additional 35,067,143 shares during the last quarter. Vanguard Group Inc. increased its holdings in shares of Canadian Natural Resources by 0.9% during the 4th quarter. Vanguard Group Inc. now owns 93,305,198 shares of the oil and gas producer’s stock worth $3,160,340,000 after acquiring an additional 818,809 shares during the last quarter. Fisher Asset Management LLC increased its holdings in shares of Canadian Natural Resources by 3.2% during the 4th quarter. Fisher Asset Management LLC now owns 42,745,981 shares of the oil and gas producer’s stock worth $1,446,951,000 after acquiring an additional 1,342,954 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of Canadian Natural Resources by 7.0% during the 4th quarter. Geode Capital Management LLC now owns 20,518,621 shares of the oil and gas producer’s stock worth $710,119,000 after acquiring an additional 1,347,844 shares during the last quarter. Finally, JPMorgan Chase & Co. increased its holdings in shares of Canadian Natural Resources by 1.9% during the 4th quarter. JPMorgan Chase & Co. now owns 14,308,539 shares of the oil and gas producer’s stock worth $484,344,000 after acquiring an additional 260,746 shares during the last quarter. Institutional investors and hedge funds own 74.03% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently weighed in on CNQ. Raymond James Financial raised 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. Royal Bank Of Canada boosted their target price on Canadian Natural Resources from $61.00 to $65.00 and gave the stock an “outperform” rating in a report on Friday, March 6th. Scotiabank reissued an “outperform” rating on shares of Canadian Natural Resources in a report on Wednesday, May 20th. Finally, The Goldman Sachs Group boosted their target price on Canadian Natural Resources from $37.00 to $49.00 and gave the stock a “buy” rating in a report on Thursday, March 12th. Seven research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $57.00.

Canadian Natural Resources Trading Down 2.8%

Shares of Canadian Natural Resources stock opened at $44.04 on Tuesday. The firm has a 50-day moving average of $46.39 and a 200-day moving average of $41.51. The stock has a market cap of $91.67 billion, a PE ratio of 13.15 and a beta of 0.45. 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 announced its earnings results on Thursday, May 7th. The oil and gas producer reported $0.85 earnings per share (EPS) for the quarter, beating 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 quarter in the previous year, the business posted $1.16 earnings per share. As a group, sell-side analysts forecast that Canadian Natural Resources Limited will post 4.2 EPS for the current year.

Canadian Natural Resources Announces Dividend

The firm also recently announced 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 dividend on an annualized basis and a dividend yield of 5.7%. The ex-dividend date of this dividend is Tuesday, June 23rd. Canadian Natural Resources’s payout ratio is presently 54.63%.

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.