Synovus Financial Corp Purchases Shares of 6,600 Canadian Natural Resources Limited (NYSE:CNQ)

Synovus Financial Corp acquired a new position in Canadian Natural Resources Limited (NYSE:CNQ) (TSE:CNQ) in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 6,600 shares of the oil and gas producer’s stock, valued at approximately $219,000.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Fisher Asset Management LLC increased its stake in Canadian Natural Resources by 3.9% in the 3rd quarter. Fisher Asset Management LLC now owns 43,581,024 shares of the oil and gas producer’s stock worth $1,447,326,000 after buying an additional 1,651,452 shares in the last quarter. TD Asset Management Inc grew its position in shares of Canadian Natural Resources by 96.2% during the second quarter. TD Asset Management Inc now owns 42,518,833 shares of the oil and gas producer’s stock worth $1,514,190,000 after purchasing an additional 20,843,193 shares in the last quarter. Canada Pension Plan Investment Board raised its stake in Canadian Natural Resources by 93.0% during the 2nd quarter. Canada Pension Plan Investment Board now owns 41,464,502 shares of the oil and gas producer’s stock valued at $1,476,644,000 after purchasing an additional 19,980,902 shares during the period. 1832 Asset Management L.P. lifted its holdings in Canadian Natural Resources by 105.3% in the 2nd quarter. 1832 Asset Management L.P. now owns 31,668,045 shares of the oil and gas producer’s stock worth $1,127,382,000 after purchasing an additional 16,245,046 shares in the last quarter. Finally, Mackenzie Financial Corp lifted its holdings in Canadian Natural Resources by 90.3% in the 2nd quarter. Mackenzie Financial Corp now owns 30,017,414 shares of the oil and gas producer’s stock worth $1,069,338,000 after purchasing an additional 14,246,978 shares in the last quarter. 74.03% of the stock is currently owned by institutional investors.

Canadian Natural Resources Stock Down 0.6 %

NYSE CNQ opened at $29.51 on Friday. The stock has a 50 day moving average price of $33.82 and a 200-day moving average price of $34.60. Canadian Natural Resources Limited has a one year low of $29.37 and a one year high of $41.29. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.53 and a current ratio of 0.84. The company has a market capitalization of $62.17 billion, a P/E ratio of 11.46 and a beta of 1.47.

Canadian Natural Resources (NYSE:CNQ) (TSE:CNQ) last released its quarterly earnings data on Thursday, October 31st. The oil and gas producer reported $0.97 EPS for the quarter, beating the consensus estimate of $0.67 by $0.30. Canadian Natural Resources had a net margin of 18.45% and a return on equity of 20.07%. The business had revenue of $7.62 billion during the quarter, compared to analyst estimates of $6.40 billion. During the same quarter last year, the business earned $0.96 earnings per share. As a group, equities analysts predict that Canadian Natural Resources Limited will post 2.47 EPS for the current fiscal year.

Canadian Natural Resources Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, January 3rd. Investors of record on Friday, December 13th will be given a $0.388 dividend. The ex-dividend date of this dividend is Friday, December 13th. This represents a $1.55 annualized dividend and a yield of 5.26%. This is a positive change from Canadian Natural Resources’s previous quarterly dividend of $0.38. Canadian Natural Resources’s dividend payout ratio (DPR) is currently 64.59%.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the stock. Desjardins upgraded shares of Canadian Natural Resources from a “hold” rating to a “moderate buy” rating in a research report on Tuesday, October 8th. StockNews.com downgraded shares of Canadian Natural Resources from a “buy” rating to a “hold” rating in a report on Friday, August 23rd. Five research analysts have rated the stock with a hold rating, According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $51.00.

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).