American Century Companies Inc. boosted its holdings in shares of Canadian Natural Resources Limited (NYSE:CNQ – Free Report) (TSE:CNQ) by 9.0% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 235,153 shares of the oil and gas producer’s stock after purchasing an additional 19,397 shares during the period. American Century Companies Inc.’s holdings in Canadian Natural Resources were worth $13,013,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of CNQ. Arrowstreet Capital Limited Partnership acquired a new stake in Canadian Natural Resources during the 1st quarter valued at $960,796,000. Bank of Nova Scotia boosted its position in Canadian Natural Resources by 32.8% in the 4th quarter. Bank of Nova Scotia now owns 19,845,541 shares of the oil and gas producer’s stock valued at $1,102,057,000 after buying an additional 4,897,414 shares during the last quarter. National Bank of Canada FI boosted its position in Canadian Natural Resources by 36.6% in the 1st quarter. National Bank of Canada FI now owns 17,233,139 shares of the oil and gas producer’s stock valued at $953,143,000 after buying an additional 4,618,176 shares during the last quarter. Capital International Investors boosted its position in Canadian Natural Resources by 88.2% in the 1st quarter. Capital International Investors now owns 7,930,544 shares of the oil and gas producer’s stock valued at $491,064,000 after buying an additional 3,716,523 shares during the last quarter. Finally, Canoe Financial LP bought a new position in Canadian Natural Resources in the 1st quarter valued at $134,719,000. 73.88% of the stock is owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
A number of research analysts have commented on the company. Jefferies Financial Group increased their price objective on Canadian Natural Resources from $84.00 to $94.00 and gave the company a “hold” rating in a research report on Monday, August 28th. Wells Fargo & Company increased their price objective on Canadian Natural Resources from $80.00 to $85.00 and gave the company an “equal weight” rating in a research report on Friday, August 4th. CIBC raised their price target on Canadian Natural Resources from $90.00 to $93.00 and gave the stock an “outperformer” rating in a research report on Tuesday, August 29th. UBS Group began coverage on Canadian Natural Resources in a research report on Wednesday, July 12th. They issued a “buy” rating on the stock. Finally, National Bank Financial lowered Canadian Natural Resources from an “outperform” rating to a “sector perform” rating in a research report on Friday, August 4th. Four research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, Canadian Natural Resources has an average rating of “Moderate Buy” and a consensus target price of $89.50.
Get Our Latest Research Report on Canadian Natural Resources
Canadian Natural Resources Stock Performance
CNQ stock opened at $64.92 on Friday. The business’s 50-day moving average price is $59.27 and its two-hundred day moving average price is $57.47. The company has a current ratio of 0.70, a quick ratio of 0.47 and a debt-to-equity ratio of 0.25. The firm has a market cap of $70.82 billion, a PE ratio of 12.75, a P/E/G ratio of 11.78 and a beta of 1.58. Canadian Natural Resources Limited has a 1-year low of $44.45 and a 1-year high of $65.57.
Canadian Natural Resources (NYSE:CNQ – Get Free Report) (TSE:CNQ) last posted its earnings results on Thursday, August 3rd. The oil and gas producer reported $0.85 earnings per share for the quarter, missing the consensus estimate of $0.88 by ($0.03). The business had revenue of $5.87 billion for the quarter, compared to the consensus estimate of $5.44 billion. Canadian Natural Resources had a return on equity of 22.86% and a net margin of 18.14%. As a group, research analysts forecast that Canadian Natural Resources Limited will post 4.95 earnings per share for the current year.
Canadian Natural Resources Increases Dividend
The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 5th. Shareholders of record on Friday, September 15th will be issued a dividend of $0.6744 per share. The ex-dividend date of this dividend is Thursday, September 14th. This is a positive change from Canadian Natural Resources’s previous quarterly dividend of $0.66. This represents a $2.70 annualized dividend and a yield of 4.16%. Canadian Natural Resources’s payout ratio is currently 53.24%.
Canadian Natural Resources Profile
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Read More: American Century Companies Inc. Has $13.01 Million Stake in Canadian Natural