Greenline Partners LLC Buys 8,277 Shares of Canadian Natural Resources Limited (NYSE:CNQ)

Greenline Partners LLC grew its position in Canadian Natural Resources Limited (NYSE:CNQ) (TSE:CNQ) by 6.2% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 141,367 shares of the oil and gas producer’s stock after acquiring an additional 8,277 shares during the quarter. Greenline Partners LLC’s holdings in Canadian Natural Resources were worth $4,364,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in CNQ. FMR LLC raised its holdings in shares of Canadian Natural Resources by 8.7% in the fourth quarter. FMR LLC now owns 92,550,104 shares of the oil and gas producer’s stock worth $2,857,337,000 after buying an additional 7,372,718 shares during the period. Assenagon Asset Management S.A. lifted its position in shares of Canadian Natural Resources by 6,902.0% during the fourth quarter. Assenagon Asset Management S.A. now owns 3,652,855 shares of the oil and gas producer’s stock worth $112,763,000 after purchasing an additional 3,600,686 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. grew its holdings in shares of Canadian Natural Resources by 31.6% in the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 13,433,797 shares of the oil and gas producer’s stock worth $414,223,000 after purchasing an additional 3,224,548 shares during the last quarter. Geode Capital Management LLC lifted its holdings in Canadian Natural Resources by 30.1% during the 4th quarter. Geode Capital Management LLC now owns 12,708,163 shares of the oil and gas producer’s stock valued at $400,222,000 after buying an additional 2,939,866 shares in the last quarter. Finally, T. Rowe Price Investment Management Inc. grew its stake in Canadian Natural Resources by 7.3% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 34,052,775 shares of the oil and gas producer’s stock worth $1,051,210,000 after acquiring an additional 2,312,437 shares in the last quarter. 74.03% of the stock is owned by hedge funds and other institutional investors.

Canadian Natural Resources Stock Performance

Shares of CNQ stock opened at $30.53 on Friday. Canadian Natural Resources Limited has a 12-month low of $24.65 and a 12-month high of $39.20. The business’s fifty day simple moving average is $28.98 and its 200-day simple moving average is $30.84. The company has a current ratio of 0.84, a quick ratio of 0.53 and a debt-to-equity ratio of 0.21. The company has a market cap of $64.04 billion, a PE ratio of 11.86 and a beta of 1.04.

Canadian Natural Resources (NYSE:CNQ) (TSE:CNQ) last issued its earnings results on Thursday, May 8th. The oil and gas producer reported $0.81 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.73 by $0.08. The company had revenue of $6.96 billion during the quarter, compared to analyst estimates of $10.14 billion. Canadian Natural Resources had a return on equity of 20.07% and a net margin of 18.45%. During the same quarter last year, the business posted $1.37 EPS. Analysts expect that Canadian Natural Resources Limited will post 2.45 earnings per share for the current fiscal year.

Canadian Natural Resources Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, July 3rd. Investors of record on Friday, June 13th will be given a $0.4227 dividend. The ex-dividend date is Friday, June 13th. This represents a $1.69 dividend on an annualized basis and a yield of 5.54%. This is a positive change from Canadian Natural Resources’s previous quarterly dividend of $0.41. Canadian Natural Resources’s dividend payout ratio is currently 77.88%.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the stock. Scotiabank raised shares of Canadian Natural Resources from a “sector perform” rating to a “sector outperform” rating in a research note on Wednesday, March 19th. Evercore ISI upgraded Canadian Natural Resources from an “in-line” rating to an “outperform” rating in a report on Friday, March 7th. Raymond James upgraded shares of Canadian Natural Resources from a “market perform” rating to an “outperform” rating in a report on Wednesday, April 9th. Royal Bank of Canada reissued an “outperform” rating and set a $63.00 target price on shares of Canadian Natural Resources in a research report on Thursday, March 27th. Finally, Tudor Pickering cut shares of Canadian Natural Resources from a “strong-buy” rating to a “hold” rating in a research report on Monday, February 10th. Three equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $63.00.

Canadian Natural Resources Company Profile

Canadian Natural Resources Limited acquires, explores for, develops, produces, markets, and sells crude oil, natural gas, and natural gas liquids (NGLs). The company offers light and medium crude oil, primary heavy crude oil, Pelican Lake heavy crude oil, bitumen (thermal oil), and synthetic crude oil (SCO).