Morningstar Investment Management LLC Makes New $699,000 Investment in Canadian Natural Resources Limited $CNQ

Morningstar Investment Management LLC purchased a new position in Canadian Natural Resources Limited (NYSE:CNQ) (TSE:CNQ) during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 20,643 shares of the oil and gas producer’s stock, valued at approximately $699,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Leonteq Securities AG bought a new stake in Canadian Natural Resources in the fourth quarter worth about $31,000. GoalVest Advisory LLC bought a new stake in Canadian Natural Resources in the fourth quarter worth about $32,000. Quarry LP bought a new stake in Canadian Natural Resources in the third quarter worth about $32,000. LOM Asset Management Ltd bought a new stake in Canadian Natural Resources in the fourth quarter worth about $34,000. Finally, Boyd Watterson Asset Management LLC OH bought a new stake in Canadian Natural Resources in the fourth quarter worth about $51,000. 74.03% of the stock is currently owned by institutional investors.

Canadian Natural Resources Trading Up 0.1%

Shares of NYSE CNQ opened at $48.67 on Tuesday. The business has a 50 day simple moving average of $47.24 and a 200 day simple moving average of $40.12. Canadian Natural Resources Limited has a 52 week low of $29.30 and a 52 week high of $51.34. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.68 and a current ratio of 0.98. The stock has a market cap of $101.25 billion, a price-to-earnings ratio of 14.53 and a beta of 0.47.

Canadian Natural Resources (NYSE:CNQ) (TSE:CNQ) last posted its earnings results on Thursday, May 7th. The oil and gas producer reported $0.85 earnings per share for the quarter, topping the consensus estimate of $0.74 by $0.11. Canadian Natural Resources had a return on equity of 17.49% and a net margin of 22.04%.The firm had revenue of $7.72 billion during the quarter, compared to analyst estimates of $7.57 billion. During the same period in the previous year, the company earned $1.16 EPS. On average, research analysts predict that Canadian Natural Resources Limited will post 4.09 earnings per share for the current fiscal year.

Canadian Natural Resources Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 7th. Investors of record on Tuesday, June 23rd will be issued a $0.625 dividend. This represents a $2.50 annualized dividend and a yield of 5.1%. The ex-dividend date is Tuesday, June 23rd. Canadian Natural Resources’s payout ratio is 54.63%.

Analyst Ratings Changes

Several analysts have issued reports on CNQ shares. Royal Bank Of Canada boosted their price objective on Canadian Natural Resources from $61.00 to $65.00 and gave the stock an “outperform” rating in a report on Friday, March 6th. The Goldman Sachs Group boosted their price objective on Canadian Natural Resources from $37.00 to $49.00 and gave the stock a “buy” rating in a report on Thursday, March 12th. Zacks Research upgraded Canadian Natural Resources from a “hold” rating to a “strong-buy” rating in a report on Tuesday, May 5th. Scotiabank restated an “outperform” rating on shares of Canadian Natural Resources in a report on Wednesday, May 20th. Finally, Wall Street Zen upgraded Canadian Natural Resources from a “sell” rating to a “hold” rating in a report on Saturday, January 31st. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Canadian Natural Resources has a consensus rating of “Moderate Buy” and a consensus target price of $57.00.

Canadian Natural Resources Company Profile

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.