Barnett & Company Inc. Invests $906,000 in Canadian Natural Resources Limited $CNQ

Barnett & Company Inc. purchased a new position in shares of Canadian Natural Resources Limited (NYSE:CNQ) (TSE:CNQ) in the 1st quarter, HoldingsChannel.com reports. The fund purchased 18,600 shares of the oil and gas producer’s stock, valued at approximately $906,000.

Other institutional investors have also added to or reduced their stakes in the company. TD Waterhouse Canada Inc. raised its stake in Canadian Natural Resources by 4.9% during the fourth quarter. TD Waterhouse Canada Inc. now owns 6,758,445 shares of the oil and gas producer’s stock worth $228,729,000 after acquiring an additional 315,460 shares in the last quarter. Marshall Financial Group LLC acquired a new stake in shares of Canadian Natural Resources in the 4th quarter valued at approximately $869,000. Numerai GP LLC boosted its stake in shares of Canadian Natural Resources by 102.5% in the 3rd quarter. Numerai GP LLC now owns 77,164 shares of the oil and gas producer’s stock valued at $2,466,000 after purchasing an additional 39,049 shares in the last quarter. Novem Group bought a new stake in shares of Canadian Natural Resources during the 4th quarter valued at approximately $1,270,000. Finally, Vanguard Group Inc. grew 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 valued at $3,160,340,000 after purchasing an additional 818,809 shares during the last quarter. 74.03% of the stock is currently owned by institutional investors.

Canadian Natural Resources Stock Performance

Canadian Natural Resources stock opened at $41.75 on Friday. The business has a 50 day moving average of $44.40 and a 200-day moving average of $42.43. The company has a market capitalization of $86.67 billion, a P/E ratio of 12.46 and a beta of 0.47. Canadian Natural Resources Limited has a 1 year low of $29.30 and a 1 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 posted its earnings results on Thursday, May 7th. The oil and gas producer reported $0.85 EPS for the quarter, topping the consensus estimate of $0.74 by $0.11. Canadian Natural Resources had a net margin of 22.04% and a return on equity of 17.49%. The business had revenue of $7.72 billion for the quarter, compared to the consensus estimate of $7.57 billion. During the same period last year, the company earned $1.16 EPS. On average, equities research analysts predict that Canadian Natural Resources Limited will post 4.2 earnings per share for the current year.

Canadian Natural Resources Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, July 7th. Stockholders of record on Tuesday, June 23rd were paid a dividend of $0.625 per share. The ex-dividend date of this dividend was Tuesday, June 23rd. This represents a $2.50 annualized dividend and a dividend yield of 6.0%. Canadian Natural Resources’s dividend payout ratio (DPR) is presently 54.03%.

Analyst Upgrades and Downgrades

CNQ has been the subject of a number of research analyst reports. Scotiabank upgraded shares of Canadian Natural Resources to a “hold” rating in a research report on Friday, June 26th. Raymond James Financial raised shares of Canadian Natural Resources from a “market perform” rating to an “outperform” rating in a research note on Thursday, May 7th. Weiss Ratings downgraded shares of Canadian Natural Resources from a “buy (b)” rating to a “buy (b-)” rating in a report on Monday, May 11th. Finally, Zacks Research cut Canadian Natural Resources from a “strong-buy” rating to a “hold” rating in a research note on Monday, June 8th. Six analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat, Canadian Natural Resources has an average rating of “Moderate Buy” and an average target price of $57.00.

About Canadian Natural Resources

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.