Korea Investment CORP Has $27.10 Million Stock Holdings in Canadian Natural Resources Limited $CNQ

Korea Investment CORP raised its stake in Canadian Natural Resources Limited (NYSE:CNQ) (TSE:CNQ) by 1.8% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 847,192 shares of the oil and gas producer’s stock after purchasing an additional 14,750 shares during the quarter. Korea Investment CORP’s holdings in Canadian Natural Resources were worth $27,095,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Picton Mahoney Asset Management acquired a new position in Canadian Natural Resources during the second quarter worth $162,575,000. Vanguard Group Inc. grew its position in shares of Canadian Natural Resources by 3.4% in the 2nd quarter. Vanguard Group Inc. now owns 90,742,099 shares of the oil and gas producer’s stock valued at $2,852,024,000 after acquiring an additional 3,003,542 shares during the period. Geode Capital Management LLC increased its stake in shares of Canadian Natural Resources by 19.8% during the 2nd quarter. Geode Capital Management LLC now owns 17,146,792 shares of the oil and gas producer’s stock worth $548,214,000 after purchasing an additional 2,832,155 shares during the last quarter. The Manufacturers Life Insurance Company raised its holdings in shares of Canadian Natural Resources by 10.3% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 27,359,777 shares of the oil and gas producer’s stock valued at $855,414,000 after purchasing an additional 2,546,233 shares during the period. Finally, Fisher Asset Management LLC lifted its stake in Canadian Natural Resources by 4.5% in the 2nd quarter. Fisher Asset Management LLC now owns 47,939,585 shares of the oil and gas producer’s stock valued at $1,505,303,000 after purchasing an additional 2,051,714 shares during the last quarter. Institutional investors own 74.03% of the company’s stock.

Canadian Natural Resources Stock Performance

Shares of Canadian Natural Resources stock opened at $46.21 on Tuesday. The company has a 50 day moving average of $38.11 and a 200-day moving average of $34.27. Canadian Natural Resources Limited has a 1-year low of $24.65 and a 1-year high of $47.47. The company has a current ratio of 0.86, a quick ratio of 0.53 and a debt-to-equity ratio of 0.41. The company has a market cap of $96.32 billion, a PE ratio of 12.52 and a beta of 0.62.

Canadian Natural Resources (NYSE:CNQ) (TSE:CNQ) last announced its quarterly earnings data on Thursday, March 5th. The oil and gas producer reported $0.59 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.53 by $0.06. Canadian Natural Resources had a net margin of 24.48% and a return on equity of 18.24%. The business had revenue of $6.89 billion for the quarter, compared to analysts’ expectations of $6.64 billion. During the same period last year, the firm posted $0.93 earnings per share. As a group, equities research analysts forecast that Canadian Natural Resources Limited will post 2.45 earnings per share for the current fiscal year.

Canadian Natural Resources Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 7th. Stockholders of record on Friday, March 20th will be paid a $0.625 dividend. This represents a $2.50 annualized dividend and a dividend yield of 5.4%. The ex-dividend date is Friday, March 20th. This is a positive change from Canadian Natural Resources’s previous quarterly dividend of $0.59. Canadian Natural Resources’s dividend payout ratio is 45.53%.

Wall Street Analysts Forecast Growth

CNQ has been the topic of several research analyst reports. The Goldman Sachs Group set a $35.00 price objective on Canadian Natural Resources and gave the company a “buy” rating in a research note on Friday, January 2nd. Desjardins cut Canadian Natural Resources from a “buy” rating to a “hold” rating in a research note on Monday, November 24th. Royal Bank Of Canada lifted their price objective on shares of Canadian Natural Resources from $61.00 to $65.00 and gave the stock an “outperform” rating in a research report on Friday. Zacks Research downgraded shares of Canadian Natural Resources from a “strong-buy” rating to a “hold” rating in a report on Friday, December 19th. Finally, Evercore cut shares of Canadian Natural Resources from an “outperform” rating to an “in-line” rating in a research note on Tuesday, January 6th. Five analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $50.00.

About Canadian Natural Resources

Canadian Natural Resources Limited (NYSE: CNQ) is a Calgary-based independent oil and natural gas exploration and production company. Established in the early 1970s and publicly listed in Canada and the United States, the company is principally engaged in the exploration, development, production, and marketing of crude oil, natural gas and natural gas liquids. Its asset base spans conventional and unconventional reservoirs and includes oil sands mining and in-situ thermal projects, midstream processing and upgrading capacity, and related field operations.

The company’s operations are concentrated in Western Canada, where it develops heavy crude, bitumen from oil sands and conventional light crude and natural gas resources.