OLD National Bancorp IN acquired a new position in Canadian Natural Resources Ltd (NYSE:CNQ) (TSE:CNQ) in the 1st quarter, HoldingsChannel.com reports. The fund acquired 13,494 shares of the oil and gas producer’s stock, valued at approximately $371,000.
Other institutional investors and hedge funds have also recently made changes to their positions in the company. IFP Advisors Inc grew its holdings in Canadian Natural Resources by 71.7% during the 4th quarter. IFP Advisors Inc now owns 1,042 shares of the oil and gas producer’s stock valued at $25,000 after buying an additional 435 shares in the last quarter. Bremer Trust National Association purchased a new position in Canadian Natural Resources during the 4th quarter valued at about $28,000. Cornerstone Advisors Inc. grew its holdings in Canadian Natural Resources by 245.3% during the 1st quarter. Cornerstone Advisors Inc. now owns 1,806 shares of the oil and gas producer’s stock valued at $50,000 after buying an additional 1,283 shares in the last quarter. Buffington Mohr McNeal purchased a new position in Canadian Natural Resources during the 1st quarter valued at about $55,000. Finally, Quadrant Capital Group LLC grew its holdings in Canadian Natural Resources by 7.9% during the 4th quarter. Quadrant Capital Group LLC now owns 6,183 shares of the oil and gas producer’s stock valued at $142,000 after buying an additional 454 shares in the last quarter. 68.69% of the stock is owned by institutional investors.
A number of research analysts have weighed in on the company. Edward Jones lowered Canadian Natural Resources from a “buy” rating to a “hold” rating in a report on Thursday, April 25th. Zacks Investment Research raised Canadian Natural Resources from a “hold” rating to a “strong-buy” rating and set a $32.00 target price for the company in a report on Wednesday, May 8th. Royal Bank of Canada reaffirmed an “average” rating and set a $45.00 target price on shares of Canadian Natural Resources in a report on Friday, May 10th. Raymond James reaffirmed a “buy” rating on shares of Canadian Natural Resources in a report on Friday, May 10th. Finally, Mizuho started coverage on Canadian Natural Resources in a report on Monday, March 11th. They set a “buy” rating and a $45.00 target price for the company. Four analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the stock. Canadian Natural Resources has an average rating of “Buy” and a consensus price target of $41.31.
Shares of CNQ opened at $27.86 on Thursday. The stock has a market cap of $32.57 billion, a PE ratio of 12.96, a price-to-earnings-growth ratio of 2.10 and a beta of 1.20. The company has a quick ratio of 0.43, a current ratio of 0.76 and a debt-to-equity ratio of 0.60. Canadian Natural Resources Ltd has a 12-month low of $21.85 and a 12-month high of $38.20.
Canadian Natural Resources (NYSE:CNQ) (TSE:CNQ) last issued its quarterly earnings results on Thursday, May 9th. The oil and gas producer reported $0.70 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.39 by $0.31. The firm had revenue of $3.95 billion during the quarter, compared to the consensus estimate of $3.73 billion. Canadian Natural Resources had a return on equity of 8.98% and a net margin of 13.50%. During the same quarter last year, the company posted $0.71 EPS. On average, equities analysts forecast that Canadian Natural Resources Ltd will post 2.16 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Friday, June 14th will be given a dividend of $0.2794 per share. The ex-dividend date is Thursday, June 13th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 4.01%. Canadian Natural Resources’s dividend payout ratio (DPR) is presently 53.02%.
Canadian Natural Resources Profile
Canadian Natural Resources Limited explores for, develops, produces, and markets crude oil, natural gas, and natural gas liquids (NGLs). The company offers synthetic crude oil (SCO), light and medium crude oil, bitumen (thermal oil), primary heavy crude oil, and Pelican Lake heavy crude oil. Its midstream assets include two crude oil pipeline systems; and a 50% working interest in an 84-megawatt cogeneration plant at Primrose.
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