Cerity Partners LLC Raises Stock Holdings in Canadian Natural Resources Limited (NYSE:CNQ)

Cerity Partners LLC increased its stake in Canadian Natural Resources Limited (NYSE:CNQ) (TSE:CNQ) by 556.7% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 96,338 shares of the oil and gas producer’s stock after buying an additional 81,669 shares during the period. Cerity Partners LLC’s holdings in Canadian Natural Resources were worth $6,312,000 as of its most recent filing with the SEC.

Other large investors have also added to or reduced their stakes in the company. Money Concepts Capital Corp bought a new position in shares of Canadian Natural Resources during the 4th quarter valued at approximately $25,000. Central Bank & Trust Co. bought a new position in Canadian Natural Resources during the fourth quarter valued at $26,000. Captrust Financial Advisors increased its position in Canadian Natural Resources by 57.6% in the second quarter. Captrust Financial Advisors now owns 594 shares of the oil and gas producer’s stock worth $32,000 after buying an additional 217 shares during the last quarter. Fortis Capital Advisors LLC bought a new stake in shares of Canadian Natural Resources in the first quarter valued at $35,000. Finally, KB Financial Partners LLC purchased a new position in shares of Canadian Natural Resources during the 1st quarter valued at $41,000. Hedge funds and other institutional investors own 74.03% of the company’s stock.

Canadian Natural Resources Stock Down 2.1 %

Shares of NYSE CNQ opened at $77.54 on Tuesday. The company has a current ratio of 0.96, a quick ratio of 0.69 and a debt-to-equity ratio of 0.25. The business has a 50-day moving average of $71.23 and a 200-day moving average of $66.93. The firm has a market capitalization of $83.13 billion, a price-to-earnings ratio of 14.00 and a beta of 1.54. Canadian Natural Resources Limited has a 12 month low of $52.66 and a 12 month high of $82.58.

Canadian Natural Resources (NYSE:CNQ) (TSE:CNQ) last released its quarterly earnings results on Thursday, February 29th. The oil and gas producer reported $1.72 EPS for the quarter, topping analysts’ consensus estimates of $1.59 by $0.13. The business had revenue of $7.02 billion during the quarter, compared to analysts’ expectations of $6.73 billion. Canadian Natural Resources had a net margin of 20.15% and a return on equity of 21.74%. Sell-side analysts expect that Canadian Natural Resources Limited will post 5.52 earnings per share for the current fiscal year.

Canadian Natural Resources Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, April 5th. Investors of record on Friday, March 15th were paid a $0.774 dividend. This represents a $3.10 dividend on an annualized basis and a yield of 3.99%. The ex-dividend date of this dividend was Thursday, March 14th. This is a boost from Canadian Natural Resources’s previous quarterly dividend of $0.72. Canadian Natural Resources’s dividend payout ratio is currently 53.25%.

Analyst Upgrades and Downgrades

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

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).