Raymond James Financial Services Advisors Inc. Has $13.54 Million Stock Position in Canadian Natural Resources Limited (NYSE:CNQ)

Raymond James Financial Services Advisors Inc. lifted its stake in Canadian Natural Resources Limited (NYSE:CNQFree Report) (TSE:CNQ) by 993.8% in the fourth quarter, HoldingsChannel reports. The firm owned 206,580 shares of the oil and gas producer’s stock after purchasing an additional 187,694 shares during the period. Raymond James Financial Services Advisors Inc.’s holdings in Canadian Natural Resources were worth $13,535,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of CNQ. Cambridge Investment Research Advisors Inc. boosted its position in shares of Canadian Natural Resources by 30.3% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 13,128 shares of the oil and gas producer’s stock valued at $814,000 after purchasing an additional 3,055 shares during the period. Private Advisor Group LLC acquired a new stake in Canadian Natural Resources during the 1st quarter worth about $403,000. PNC Financial Services Group Inc. boosted its position in Canadian Natural Resources by 26.0% during the 1st quarter. PNC Financial Services Group Inc. now owns 16,727 shares of the oil and gas producer’s stock worth $1,036,000 after acquiring an additional 3,448 shares during the period. BlackRock Inc. boosted its position in Canadian Natural Resources by 31.5% during the 1st quarter. BlackRock Inc. now owns 896,093 shares of the oil and gas producer’s stock worth $55,540,000 after acquiring an additional 214,665 shares during the period. Finally, Raymond James Trust N.A. boosted its position in Canadian Natural Resources by 2.3% during the 1st quarter. Raymond James Trust N.A. now owns 8,432 shares of the oil and gas producer’s stock worth $523,000 after acquiring an additional 191 shares during the period. Institutional investors and hedge funds own 74.03% of the company’s stock.

Wall Street Analyst Weigh In

Separately, JPMorgan Chase & Co. raised their price objective on Canadian Natural Resources from $101.00 to $102.00 and gave the stock a “neutral” rating in a research report on Thursday, January 11th. Five analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $94.00.

View Our Latest Research Report on CNQ

Canadian Natural Resources Stock Up 1.1 %

CNQ opened at $76.32 on Friday. The company has a market capitalization of $81.94 billion, a PE ratio of 13.78 and a beta of 1.53. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.96 and a quick ratio of 0.69. Canadian Natural Resources Limited has a fifty-two week low of $52.66 and a fifty-two week high of $76.56. The business has a 50-day moving average of $67.51 and a 200-day moving average of $65.67.

Canadian Natural Resources (NYSE:CNQGet Free Report) (TSE:CNQ) last announced its quarterly earnings results on Thursday, February 29th. The oil and gas producer reported $1.72 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.59 by $0.13. The business had revenue of $7.02 billion during the quarter, compared to analyst estimates of $6.73 billion. Canadian Natural Resources had a return on equity of 21.74% and a net margin of 20.15%. Equities research analysts forecast that Canadian Natural Resources Limited will post 5.44 EPS for the current fiscal year.

Canadian Natural Resources Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, April 5th. Stockholders of record on Friday, March 15th will be issued a dividend of $0.774 per share. This represents a $3.10 annualized dividend and a dividend yield of 4.06%. This is a positive change from Canadian Natural Resources’s previous quarterly dividend of $0.72. The ex-dividend date of this dividend is Thursday, March 14th. Canadian Natural Resources’s payout ratio is currently 53.25%.

Canadian Natural Resources Profile

(Free Report)

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).

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Institutional Ownership by Quarter for Canadian Natural Resources (NYSE:CNQ)

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