Geode Capital Management LLC Has $328.81 Million Stake in Canadian Natural Resources Limited (NYSE:CNQ)

Geode Capital Management LLC increased its stake in Canadian Natural Resources Limited (NYSE:CNQ) (TSE:CNQ) by 8.1% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 9,768,297 shares of the oil and gas producer’s stock after acquiring an additional 727,798 shares during the quarter. Geode Capital Management LLC owned 0.46% of Canadian Natural Resources worth $328,807,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Wealth Enhancement Advisory Services LLC raised its holdings in shares of Canadian Natural Resources by 294.3% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 18,418 shares of the oil and gas producer’s stock valued at $656,000 after purchasing an additional 13,747 shares during the period. Envestnet Portfolio Solutions Inc. raised its stake in Canadian Natural Resources by 56.0% during the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 33,967 shares of the oil and gas producer’s stock worth $1,209,000 after buying an additional 12,193 shares during the period. Assenagon Asset Management S.A. raised its stake in Canadian Natural Resources by 107.3% during the 2nd quarter. Assenagon Asset Management S.A. now owns 53,858 shares of the oil and gas producer’s stock worth $1,918,000 after buying an additional 27,879 shares during the period. Naples Global Advisors LLC boosted its holdings in Canadian Natural Resources by 6.4% in the second quarter. Naples Global Advisors LLC now owns 6,820 shares of the oil and gas producer’s stock worth $245,000 after acquiring an additional 410 shares in the last quarter. Finally, Blue Trust Inc. grew its stake in Canadian Natural Resources by 972.1% in the second quarter. Blue Trust Inc. now owns 2,916 shares of the oil and gas producer’s stock valued at $104,000 after acquiring an additional 2,644 shares during the period. Institutional investors and hedge funds own 74.03% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on CNQ. StockNews.com cut Canadian Natural Resources from a “buy” rating to a “hold” rating in a report on Friday, August 23rd. Desjardins upgraded shares of Canadian Natural Resources from a “hold” rating to a “moderate buy” rating in a report on Tuesday, October 8th. Five analysts have rated the stock with a hold rating, According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $51.00.

Canadian Natural Resources Stock Performance

Shares of CNQ opened at $31.47 on Friday. Canadian Natural Resources Limited has a 52 week low of $29.45 and a 52 week high of $41.29. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.53 and a current ratio of 0.84. The stock has a 50 day moving average price of $34.35 and a two-hundred day moving average price of $34.82. The firm has a market capitalization of $66.30 billion, a P/E ratio of 12.22 and a beta of 1.47.

Canadian Natural Resources (NYSE:CNQ) (TSE:CNQ) last posted its quarterly earnings data on Thursday, October 31st. The oil and gas producer reported $0.97 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.67 by $0.30. Canadian Natural Resources had a net margin of 18.45% and a return on equity of 20.07%. The firm had revenue of $7.62 billion for the quarter, compared to the consensus estimate of $6.40 billion. During the same period in the previous year, the firm earned $0.96 EPS. Equities analysts forecast that Canadian Natural Resources Limited will post 2.47 earnings per share for the current fiscal year.

Canadian Natural Resources Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 3rd. Stockholders of record on Friday, December 13th will be issued a $0.388 dividend. The ex-dividend date of this dividend is Friday, December 13th. This is a positive change from Canadian Natural Resources’s previous quarterly dividend of $0.38. This represents a $1.55 annualized dividend and a dividend yield of 4.93%. Canadian Natural Resources’s dividend payout ratio is currently 60.58%.

About Canadian Natural Resources

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).