Canadian Natural Resources Limited (NYSE:CNQ) Shares Acquired by Lorne Steinberg Wealth Management Inc.

Lorne Steinberg Wealth Management Inc. raised its stake in shares of Canadian Natural Resources Limited (NYSE:CNQ) (TSE:CNQ) by 9.8% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,760 shares of the oil and gas producer’s stock after purchasing an additional 423 shares during the quarter. Lorne Steinberg Wealth Management Inc.’s holdings in Canadian Natural Resources were worth $312,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of CNQ. Vontobel Holding Ltd. acquired a new position in Canadian Natural Resources during the 3rd quarter valued at approximately $494,000. CWM LLC increased its stake in Canadian Natural Resources by 52.0% during the 3rd quarter. CWM LLC now owns 2,559 shares of the oil and gas producer’s stock valued at $165,000 after purchasing an additional 875 shares in the last quarter. Venture Visionary Partners LLC acquired a new position in Canadian Natural Resources during the 3rd quarter valued at approximately $200,000. SG Americas Securities LLC increased its stake in Canadian Natural Resources by 5.0% during the 3rd quarter. SG Americas Securities LLC now owns 40,333 shares of the oil and gas producer’s stock valued at $2,619,000 after purchasing an additional 1,938 shares in the last quarter. Finally, Baskin Financial Services Inc. boosted its holdings in shares of Canadian Natural Resources by 0.4% in the 3rd quarter. Baskin Financial Services Inc. now owns 448,741 shares of the oil and gas producer’s stock valued at $29,015,000 after acquiring an additional 1,732 shares during the last quarter. Institutional investors and hedge funds own 74.03% of the company’s stock.

Wall Street Analyst Weigh In

CNQ has been the topic of several recent research reports. Desjardins downgraded shares of Canadian Natural Resources from a “buy” rating to a “hold” rating in a report on Tuesday. JPMorgan Chase & Co. upped their price objective on shares of Canadian Natural Resources from $101.00 to $102.00 and gave the company a “neutral” rating in a report on Thursday, January 11th. Six investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $94.00.

Canadian Natural Resources Price Performance

Shares of CNQ stock traded down $0.50 during mid-day trading on Wednesday, hitting $76.57. 648,236 shares of the stock were exchanged, compared to its average volume of 3,305,767. Canadian Natural Resources Limited has a 52-week low of $52.66 and a 52-week high of $82.58. The company has a quick ratio of 0.69, a current ratio of 0.96 and a debt-to-equity ratio of 0.25. The company has a market cap of $82.09 billion, a PE ratio of 13.91 and a beta of 1.54. The firm has a fifty day moving average of $73.20 and a 200 day moving average of $67.55.

Canadian Natural Resources (NYSE:CNQ) (TSE:CNQ) last posted its quarterly earnings data on Thursday, February 29th. The oil and gas producer reported $1.72 EPS for the quarter, beating analysts’ consensus estimates of $1.59 by $0.13. Canadian Natural Resources had a return on equity of 21.74% and a net margin of 20.15%. The business had revenue of $7.02 billion during the quarter, compared to analysts’ expectations of $6.73 billion. Research analysts anticipate that Canadian Natural Resources Limited will post 5.7 earnings per share for the current year.

Canadian Natural Resources Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, April 5th. Stockholders of record on Friday, March 15th were given a dividend of $0.774 per share. This is a positive change from Canadian Natural Resources’s previous quarterly dividend of $0.72. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $3.10 dividend on an annualized basis and a dividend yield of 4.04%. Canadian Natural Resources’s dividend payout ratio (DPR) is 53.25%.

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).