Amundi Pioneer Asset Management Inc. acquired a new position in shares of Canadian Natural Resource Ltd (NYSE:CNQ) (TSE:CNQ) in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor acquired 359,851 shares of the oil and gas producer’s stock, valued at approximately $12,855,000.
A number of other hedge funds and other institutional investors also recently modified their holdings of the business. Mackenzie Financial Corp increased its position in Canadian Natural Resource by 64.3% in the 4th quarter. Mackenzie Financial Corp now owns 10,423,026 shares of the oil and gas producer’s stock valued at $372,310,000 after acquiring an additional 4,080,120 shares during the period. The Manufacturers Life Insurance Company grew its stake in shares of Canadian Natural Resource by 39.4% in the fourth quarter. The Manufacturers Life Insurance Company now owns 10,882,795 shares of the oil and gas producer’s stock worth $388,734,000 after purchasing an additional 3,074,138 shares in the last quarter. Picton Mahoney Asset Management acquired a new position in shares of Canadian Natural Resource during the fourth quarter valued at $112,571,000. TD Asset Management Inc. increased its holdings in shares of Canadian Natural Resource by 6.5% during the third quarter. TD Asset Management Inc. now owns 23,511,155 shares of the oil and gas producer’s stock valued at $785,617,000 after purchasing an additional 1,437,849 shares during the period. Finally, Ameriprise Financial Inc. raised its stake in shares of Canadian Natural Resource by 11.1% during the third quarter. Ameriprise Financial Inc. now owns 10,842,877 shares of the oil and gas producer’s stock valued at $363,126,000 after purchasing an additional 1,080,838 shares in the last quarter. 60.30% of the stock is currently owned by hedge funds and other institutional investors.
NYSE:CNQ traded down $0.78 during trading hours on Friday, reaching $33.02. 2,812,532 shares of the company’s stock were exchanged, compared to its average volume of 2,508,838. The stock has a market capitalization of $40,479.29, a price-to-earnings ratio of 39.78, a PEG ratio of 3.30 and a beta of 1.33. Canadian Natural Resource Ltd has a 12 month low of $27.52 and a 12 month high of $37.63. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.64 and a current ratio of 0.78.
Canadian Natural Resource (NYSE:CNQ) (TSE:CNQ) last announced its quarterly earnings data on Thursday, March 1st. The oil and gas producer reported $368.52 EPS for the quarter, beating analysts’ consensus estimates of $0.30 by $368.22. The company had revenue of $3.95 billion during the quarter, compared to the consensus estimate of $3.56 billion. Canadian Natural Resource had a return on equity of 4.21% and a net margin of 14.29%. sell-side analysts expect that Canadian Natural Resource Ltd will post 1.82 EPS for the current fiscal year.
Canadian Natural Resource announced that its board has initiated a stock buyback program on Wednesday, March 14th that authorizes the company to buyback 61,300,000 outstanding shares. This buyback authorization authorizes the oil and gas producer to buy shares of its stock through open market purchases. Stock buyback programs are often an indication that the company’s management believes its shares are undervalued.
The business also recently declared a quarterly dividend, which was paid on Sunday, April 1st. Investors of record on Friday, March 16th were given a $0.261 dividend. This is a positive change from Canadian Natural Resource’s previous quarterly dividend of $0.21. The ex-dividend date of this dividend was Thursday, March 15th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 3.16%. Canadian Natural Resource’s dividend payout ratio (DPR) is 125.30%.
Several research firms have commented on CNQ. Wells Fargo cut shares of Canadian Natural Resource from an “outperform” rating to a “market perform” rating in a research note on Tuesday, February 6th. Zacks Investment Research upgraded shares of Canadian Natural Resource from a “hold” rating to a “strong-buy” rating and set a $42.00 price objective on the stock in a research note on Tuesday, January 9th. AltaCorp Capital restated a “buy” rating and issued a $52.00 target price on shares of Canadian Natural Resource in a research report on Monday, January 15th. Morgan Stanley increased their price target on Canadian Natural Resource from $52.00 to $58.00 and gave the company an “overweight” rating in a research note on Wednesday, January 24th. Finally, UBS initiated coverage on Canadian Natural Resource in a research note on Wednesday, March 7th. They issued a “buy” rating on the stock. One investment analyst has rated the stock with a sell rating, four have given a hold rating and six have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $44.67.
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Canadian Natural Resource Company Profile
Canadian Natural Resources Limited is an independent crude oil and natural gas exploration, development and production company. The Company’s segments include Exploration and Production, Oil Sands Mining and Upgrading, and Midstream. The Exploration and Production segment includes exploration, development, production and marketing of crude oil, natural gas liquids (NGLs) and natural gas.
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