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

Lorne Steinberg Wealth Management Inc. lifted its position in shares of Canadian Natural Resources Limited (NYSE:CNQ) (TSE:CNQ) by 9.8% during the fourth quarter, HoldingsChannel reports. The firm 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 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the company. Central Bank & Trust Co. bought a new stake in shares of Canadian Natural Resources in the fourth quarter worth $26,000. Janiczek Wealth Management LLC increased its stake in shares of Canadian Natural Resources by 39.7% in the fourth quarter. Janiczek Wealth Management LLC now owns 609 shares of the oil and gas producer’s stock worth $40,000 after buying an additional 173 shares during the last quarter. Federated Hermes Inc. bought a new stake in shares of Canadian Natural Resources in the fourth quarter worth $61,000. Massmutual Trust Co. FSB ADV increased its stake in shares of Canadian Natural Resources by 21.2% in the fourth quarter. Massmutual Trust Co. FSB ADV now owns 1,070 shares of the oil and gas producer’s stock worth $70,000 after buying an additional 187 shares during the last quarter. Finally, Washington Trust Advisors Inc. increased its stake in shares of Canadian Natural Resources by 238.1% in the third quarter. Washington Trust Advisors Inc. now owns 1,136 shares of the oil and gas producer’s stock worth $73,000 after buying an additional 800 shares during the last quarter. 74.03% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

CNQ has been the subject of a number of research analyst reports. Desjardins lowered shares of Canadian Natural Resources from a “buy” rating to a “hold” rating in a research note on Tuesday. JPMorgan Chase & Co. lifted their price target 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. Six equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $94.00.

Canadian Natural Resources Stock Performance

CNQ stock traded down $0.50 during trading on Wednesday, hitting $76.57. 648,236 shares of the company’s stock traded hands, compared to its average volume of 3,305,767. The company has a quick ratio of 0.69, a current ratio of 0.96 and a debt-to-equity ratio of 0.25. Canadian Natural Resources Limited has a 52 week low of $52.66 and a 52 week high of $82.58. The stock has a fifty day moving average price of $73.20 and a two-hundred day moving average price of $67.55. The stock has a market capitalization of $82.09 billion, a price-to-earnings ratio of 13.91 and a beta of 1.54.

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 the consensus estimate of $1.59 by $0.13. The business had revenue of $7.02 billion during the quarter, compared to analyst estimates of $6.73 billion. Canadian Natural Resources had a net margin of 20.15% and a return on equity of 21.74%. As a group, equities analysts anticipate that Canadian Natural Resources Limited will post 5.7 EPS for the current fiscal year.

Canadian Natural Resources Increases Dividend

The company also recently declared 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. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $3.10 annualized dividend and a dividend yield of 4.04%. This is a positive change from Canadian Natural Resources’s previous quarterly dividend of $0.72. Canadian Natural Resources’s dividend payout ratio is currently 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).