Clearbridge Investments LLC Increases Position in Canadian Natural Resources Limited $CNQ

Clearbridge Investments LLC raised its position in Canadian Natural Resources Limited (NYSE:CNQ) (TSE:CNQ) by 7.5% during the fourth quarter, HoldingsChannel reports. The firm owned 2,545,271 shares of the oil and gas producer’s stock after buying an additional 178,121 shares during the quarter. Clearbridge Investments LLC’s holdings in Canadian Natural Resources were worth $86,157,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Leonteq Securities AG purchased a new stake in shares of Canadian Natural Resources in the 4th quarter valued at approximately $31,000. GoalVest Advisory LLC acquired a new position in shares of Canadian Natural Resources in the 4th quarter valued at $32,000. LOM Asset Management Ltd acquired a new position in shares of Canadian Natural Resources in the 4th quarter valued at $34,000. Quarry LP acquired a new position in shares of Canadian Natural Resources in the 3rd quarter valued at $32,000. Finally, Boyd Watterson Asset Management LLC OH acquired a new position in shares of Canadian Natural Resources in the 4th quarter valued at $51,000. 74.03% of the stock is owned by hedge funds and other institutional investors.

Canadian Natural Resources Stock Performance

Shares of CNQ opened at $46.37 on Tuesday. The company has a 50-day simple moving average of $46.73 and a 200-day simple moving average of $41.10. The company has a quick ratio of 0.68, a current ratio of 0.98 and a debt-to-equity ratio of 0.37. The company has a market capitalization of $96.50 billion, a PE ratio of 13.84 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.

Canadian Natural Resources (NYSE:CNQ) (TSE:CNQ) last announced its quarterly 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 business had revenue of $7.72 billion during the quarter, compared to the consensus estimate 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 last year, the firm posted $1.16 EPS. Equities research analysts predict that Canadian Natural Resources Limited will post 4.2 earnings per share for the current fiscal year.

Canadian Natural Resources Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 7th. Shareholders of record on Tuesday, June 23rd will be issued a dividend of $0.625 per share. This represents a $2.50 annualized dividend and a yield of 5.4%. The ex-dividend date is Tuesday, June 23rd. Canadian Natural Resources’s dividend payout ratio (DPR) is 54.03%.

Analyst Ratings Changes

A number of brokerages recently weighed in on CNQ. Zacks Research upgraded shares of Canadian Natural Resources from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, May 5th. Scotiabank reiterated an “outperform” rating on shares of Canadian Natural Resources in a research note on Wednesday, May 20th. The Goldman Sachs Group increased their price target on shares of Canadian Natural Resources from $37.00 to $49.00 and gave the stock a “buy” rating in a research note on Thursday, March 12th. ATB Cormark Capital Markets cut shares of Canadian Natural Resources from a “strong-buy” rating to a “moderate buy” rating in a research note on Thursday, March 5th. Finally, Raymond James Financial upgraded shares of Canadian Natural Resources from a “market perform” rating to an “outperform” rating in a research report on Thursday, May 7th. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat, Canadian Natural Resources currently has an average rating of “Moderate Buy” and an average price target of $57.00.

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.