Cumberland Partners Ltd Grows Stock Holdings in Canadian Natural Resources Limited (NYSE:CNQ)

Cumberland Partners Ltd raised its holdings in Canadian Natural Resources Limited (NYSE:CNQ) (TSE:CNQ) by 8.4% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 110,877 shares of the oil and gas producer’s stock after purchasing an additional 8,620 shares during the period. Cumberland Partners Ltd’s holdings in Canadian Natural Resources were worth $7,268,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently modified their holdings of CNQ. Vontobel Holding Ltd. purchased a new stake in shares of Canadian Natural Resources in the third quarter valued at about $494,000. CWM LLC lifted its holdings in shares of Canadian Natural Resources by 52.0% in the third quarter. CWM LLC now owns 2,559 shares of the oil and gas producer’s stock valued at $165,000 after purchasing an additional 875 shares in the last quarter. SG Americas Securities LLC lifted its holdings in shares of Canadian Natural Resources by 5.0% in the third quarter. SG Americas Securities LLC now owns 40,333 shares of the oil and gas producer’s stock valued at $2,619,000 after purchasing an additional 1,938 shares in the last quarter. Baskin Financial Services Inc. lifted its holdings in shares of Canadian Natural Resources by 0.4% in the third quarter. Baskin Financial Services Inc. now owns 448,741 shares of the oil and gas producer’s stock valued at $29,015,000 after purchasing an additional 1,732 shares in the last quarter. Finally, Washington Trust Advisors Inc. lifted its holdings in shares of Canadian Natural Resources by 238.1% in the third quarter. Washington Trust Advisors Inc. now owns 1,136 shares of the oil and gas producer’s stock valued at $73,000 after purchasing an additional 800 shares in the last quarter. Hedge funds and other institutional investors own 74.03% of the company’s stock.

Wall Street Analyst Weigh In

CNQ has been the topic of several recent research reports. Desjardins downgraded shares of Canadian Natural Resources from a “buy” rating to a “hold” rating in a report on Tuesday. JPMorgan Chase & Co. upped their price objective on shares of Canadian Natural Resources from $101.00 to $102.00 and gave the company a “neutral” rating in a research note on Thursday, January 11th. Six analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, Canadian Natural Resources currently has an average rating of “Hold” and a consensus target price of $94.00.

Canadian Natural Resources Trading Up 0.4 %

CNQ stock traded up $0.31 on Tuesday, hitting $77.08. 3,421,367 shares of the company were exchanged, compared to its average volume of 3,337,046. Canadian Natural Resources Limited has a twelve month low of $52.66 and a twelve month high of $82.58. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.96 and a quick ratio of 0.69. The business’s fifty day moving average is $73.20 and its two-hundred day moving average is $67.55. The stock has a market capitalization of $82.64 billion, a price-to-earnings ratio of 13.91 and a beta of 1.54.

Canadian Natural Resources (NYSE:CNQ) (TSE:CNQ) last issued its quarterly earnings results on Thursday, February 29th. The oil and gas producer reported $1.72 EPS for the quarter, topping the consensus estimate of $1.59 by $0.13. Canadian Natural Resources had a net margin of 20.15% and a return on equity of 21.74%. The firm had revenue of $7.02 billion during the quarter, compared to analyst estimates of $6.73 billion. As a group, research analysts forecast that Canadian Natural Resources Limited will post 5.7 earnings per share for the current year.

Canadian Natural Resources Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, April 5th. Stockholders of record on Friday, March 15th were given a $0.774 dividend. The ex-dividend date was Thursday, March 14th. This represents a $3.10 annualized dividend and a dividend yield of 4.02%. This is a positive change from Canadian Natural Resources’s previous quarterly dividend of $0.72. Canadian Natural Resources’s dividend payout ratio is presently 53.25%.

Canadian Natural Resources 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).