Cidel Asset Management Inc. Has $5.68 Million Stake in Canadian Natural Resources Limited $CNQ

Cidel Asset Management Inc. increased its stake in shares of Canadian Natural Resources Limited (NYSE:CNQ) (TSE:CNQ) by 9.7% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 167,451 shares of the oil and gas producer’s stock after purchasing an additional 14,847 shares during the quarter. Cidel Asset Management Inc.’s holdings in Canadian Natural Resources were worth $5,679,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of CNQ. Tacita Capital Inc boosted its position in Canadian Natural Resources by 6.1% in the 3rd quarter. Tacita Capital Inc now owns 5,753 shares of the oil and gas producer’s stock valued at $184,000 after buying an additional 330 shares during the last quarter. Frank Rimerman Advisors LLC raised its position in shares of Canadian Natural Resources by 2.2% during the third quarter. Frank Rimerman Advisors LLC now owns 17,886 shares of the oil and gas producer’s stock worth $572,000 after acquiring an additional 390 shares during the last quarter. EverSource Wealth Advisors LLC lifted its stake in shares of Canadian Natural Resources by 9.4% during the third quarter. EverSource Wealth Advisors LLC now owns 4,939 shares of the oil and gas producer’s stock valued at $158,000 after acquiring an additional 426 shares during the period. United Capital Financial Advisors LLC boosted its holdings in Canadian Natural Resources by 5.0% in the third quarter. United Capital Financial Advisors LLC now owns 9,193 shares of the oil and gas producer’s stock valued at $294,000 after acquiring an additional 436 shares during the last quarter. Finally, Spire Wealth Management boosted its holdings in Canadian Natural Resources by 4.6% in the fourth quarter. Spire Wealth Management now owns 11,218 shares of the oil and gas producer’s stock valued at $380,000 after acquiring an additional 496 shares during the last quarter. Institutional investors own 74.03% of the company’s stock.

Analyst Ratings Changes

Several analysts have weighed in on CNQ shares. ATB Cormark Capital Markets cut Canadian Natural Resources from a “strong-buy” rating to a “moderate buy” rating in a report on Thursday, March 5th. Evercore lowered shares of Canadian Natural Resources from an “outperform” rating to an “in-line” rating in a research note on Tuesday, January 6th. Weiss Ratings raised shares of Canadian Natural Resources from a “hold (c+)” rating to a “buy (b)” rating in a research note on Friday, March 27th. The Goldman Sachs Group increased their price objective on shares of Canadian Natural Resources from $37.00 to $49.00 and gave the company a “buy” rating in a report on Thursday, March 12th. Finally, Royal Bank Of Canada raised their price objective on shares of Canadian Natural Resources from $61.00 to $65.00 and gave the company an “outperform” rating in a research note on Friday, March 6th. Six research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $57.00.

Canadian Natural Resources Trading Down 0.1%

CNQ opened at $47.49 on Monday. The firm’s fifty day moving average is $43.76 and its two-hundred day moving average is $36.56. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.63 and a current ratio of 0.95. The firm has a market cap of $99.07 billion, a PE ratio of 12.87 and a beta of 0.53. Canadian Natural Resources Limited has a twelve month low of $24.65 and a twelve month high of $51.34.

Canadian Natural Resources (NYSE:CNQ) (TSE:CNQ) last announced its quarterly earnings results on Thursday, March 5th. The oil and gas producer reported $0.59 earnings per share for the quarter, topping analysts’ consensus estimates of $0.53 by $0.06. Canadian Natural Resources had a net margin of 24.48% and a return on equity of 17.84%. The company had revenue of $6.89 billion for the quarter, compared to analysts’ expectations of $6.64 billion. During the same period last year, the firm posted $0.93 earnings per share. Equities research analysts anticipate that Canadian Natural Resources Limited will post 2.45 EPS for the current year.

Canadian Natural Resources Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 7th. Shareholders of record on Friday, March 20th will be paid a $0.625 dividend. The ex-dividend date of this dividend is Friday, March 20th. This is a positive change from Canadian Natural Resources’s previous quarterly dividend of $0.59. This represents a $2.50 dividend on an annualized basis and a yield of 5.3%. Canadian Natural Resources’s payout ratio is presently 49.59%.

Canadian Natural Resources Company 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.