Sagespring Wealth Partners LLC Takes $219,000 Position in Canadian Natural Resources Limited (NYSE:CNQ)

Sagespring Wealth Partners LLC purchased a new position in shares of Canadian Natural Resources Limited (NYSE:CNQ) (TSE:CNQ) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 7,090 shares of the oil and gas producer’s stock, valued at approximately $219,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Duncker Streett & Co. Inc. acquired a new position in shares of Canadian Natural Resources during the fourth quarter worth $25,000. Lee Danner & Bass Inc. acquired a new position in Canadian Natural Resources in the 4th quarter worth $25,000. Sandy Spring Bank purchased a new position in Canadian Natural Resources in the 4th quarter valued at about $31,000. CoreFirst Bank & Trust acquired a new stake in shares of Canadian Natural Resources during the fourth quarter valued at about $31,000. Finally, Hurley Capital LLC acquired a new position in shares of Canadian Natural Resources in the fourth quarter worth about $31,000. 74.03% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the company. Raymond James upgraded Canadian Natural Resources from a “market perform” rating to an “outperform” rating in a research note on Wednesday, April 9th. Royal Bank of Canada restated an “outperform” rating and issued a $63.00 price target on shares of Canadian Natural Resources in a research note on Thursday, March 27th. Tudor Pickering downgraded shares of Canadian Natural Resources from a “strong-buy” rating to a “hold” rating in a research note on Monday, February 10th. Scotiabank upgraded shares of Canadian Natural Resources from a “sector perform” rating to a “sector outperform” rating in a research note on Wednesday, March 19th. Finally, Evercore ISI upgraded Canadian Natural Resources from an “in-line” rating to an “outperform” rating in a research note on Friday, March 7th. Three analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, Canadian Natural Resources currently has an average rating of “Moderate Buy” and an average target price of $63.00.

Canadian Natural Resources Trading Up 2.3 %

NYSE CNQ opened at $28.82 on Friday. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.53 and a current ratio of 0.84. Canadian Natural Resources Limited has a one year low of $24.65 and a one year high of $39.20. The company has a 50-day simple moving average of $29.06 and a 200-day simple moving average of $31.59. The firm has a market capitalization of $60.45 billion, a PE ratio of 11.19 and a beta of 1.10.

Canadian Natural Resources Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, April 4th. Stockholders of record on Friday, March 21st were issued a dividend of $0.4117 per share. The ex-dividend date of this dividend was Friday, March 21st. This is a positive change from Canadian Natural Resources’s previous quarterly dividend of $0.39. This represents a $1.65 annualized dividend and a dividend yield of 5.72%. Canadian Natural Resources’s dividend payout ratio is 77.88%.

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).