Fisher Asset Management LLC Acquires 1,651,452 Shares of Canadian Natural Resources Limited (NYSE:CNQ)

Fisher Asset Management LLC grew its holdings in Canadian Natural Resources Limited (NYSE:CNQ) (TSE:CNQ) by 3.9% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 43,581,024 shares of the oil and gas producer’s stock after purchasing an additional 1,651,452 shares during the period. Fisher Asset Management LLC’s holdings in Canadian Natural Resources were worth $1,447,326,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Park Place Capital Corp increased its stake in Canadian Natural Resources by 100.0% in the 2nd quarter. Park Place Capital Corp now owns 716 shares of the oil and gas producer’s stock worth $25,000 after buying an additional 358 shares during the period. RFP Financial Group LLC increased its position in shares of Canadian Natural Resources by 98.3% during the second quarter. RFP Financial Group LLC now owns 710 shares of the oil and gas producer’s stock worth $25,000 after acquiring an additional 352 shares during the period. Sugarloaf Wealth Management LLC raised its stake in shares of Canadian Natural Resources by 100.0% during the second quarter. Sugarloaf Wealth Management LLC now owns 728 shares of the oil and gas producer’s stock valued at $26,000 after acquiring an additional 364 shares in the last quarter. Bruce G. Allen Investments LLC raised its stake in shares of Canadian Natural Resources by 91.6% during the second quarter. Bruce G. Allen Investments LLC now owns 868 shares of the oil and gas producer’s stock valued at $31,000 after acquiring an additional 415 shares in the last quarter. Finally, GAMMA Investing LLC boosted its holdings in shares of Canadian Natural Resources by 104.7% in the second quarter. GAMMA Investing LLC now owns 874 shares of the oil and gas producer’s stock valued at $31,000 after purchasing an additional 447 shares during the period. 74.03% of the stock is currently owned by institutional investors.

Canadian Natural Resources Stock Performance

Shares of CNQ stock opened at $34.84 on Monday. The firm has a market cap of $73.53 billion, a price-to-earnings ratio of 13.56 and a beta of 1.50. Canadian Natural Resources Limited has a 52-week low of $29.45 and a 52-week high of $41.29. The company has a quick ratio of 0.53, a current ratio of 0.84 and a debt-to-equity ratio of 0.21. The company’s 50 day moving average is $34.59 and its 200 day moving average is $35.33.

Canadian Natural Resources (NYSE:CNQ) (TSE:CNQ) last released its quarterly earnings results on Thursday, October 31st. The oil and gas producer reported $0.97 earnings per share for the quarter, beating analysts’ consensus estimates of $0.67 by $0.30. The business had revenue of $7.62 billion for the quarter, compared to analysts’ expectations of $6.40 billion. Canadian Natural Resources had a net margin of 18.45% and a return on equity of 20.07%. During the same period last year, the business earned $0.96 EPS. On average, sell-side analysts anticipate that Canadian Natural Resources Limited will post 2.44 EPS for the current fiscal year.

Canadian Natural Resources Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 3rd. Stockholders of record on Friday, December 13th will be issued a dividend of $0.388 per share. This represents a $1.55 annualized dividend and a dividend yield of 4.45%. The ex-dividend date is Friday, December 13th. This is a positive change from Canadian Natural Resources’s previous quarterly dividend of $0.38. Canadian Natural Resources’s dividend payout ratio is currently 64.59%.

Analysts Set New Price Targets

Several research firms have commented on CNQ. StockNews.com downgraded Canadian Natural Resources from a “buy” rating to a “hold” rating in a report on Friday, August 23rd. Desjardins upgraded Canadian Natural Resources from a “hold” rating to a “moderate buy” rating in a research note on Tuesday, October 8th. Five analysts have rated the stock with a hold rating, Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $51.00.

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).