Duality Advisers LP Makes New $543,000 Investment in Canadian Natural Resources Limited (NYSE:CNQ)

Duality Advisers LP purchased a new position in shares of Canadian Natural Resources Limited (NYSE:CNQ) (TSE:CNQ) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 8,286 shares of the oil and gas producer’s stock, valued at approximately $543,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Central Bank & Trust Co. acquired a new stake in Canadian Natural Resources during the 4th quarter worth about $26,000. Janiczek Wealth Management LLC lifted its position in Canadian Natural Resources by 39.7% during the 4th quarter. Janiczek Wealth Management LLC now owns 609 shares of the oil and gas producer’s stock worth $40,000 after acquiring an additional 173 shares during the period. Federated Hermes Inc. acquired a new stake in Canadian Natural Resources during the 4th quarter worth about $61,000. Massmutual Trust Co. FSB ADV lifted its position in Canadian Natural Resources by 21.2% during the 4th quarter. Massmutual Trust Co. FSB ADV now owns 1,070 shares of the oil and gas producer’s stock worth $70,000 after acquiring an additional 187 shares during the period. Finally, Lindbrook Capital LLC lifted its position in Canadian Natural Resources by 42.4% during the 3rd quarter. Lindbrook Capital LLC now owns 1,378 shares of the oil and gas producer’s stock worth $89,000 after acquiring an additional 410 shares during the period. Institutional investors and hedge funds own 74.03% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have commented on CNQ shares. JPMorgan Chase & Co. lifted their price target on Canadian Natural Resources from $101.00 to $102.00 and gave the stock a “neutral” rating in a research report on Thursday, January 11th. Desjardins cut Canadian Natural Resources from a “buy” rating to a “hold” rating in a report on Tuesday. Six investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $94.00.

Canadian Natural Resources Stock Performance

NYSE CNQ opened at $77.32 on Friday. The stock has a market capitalization of $82.90 billion, a price-to-earnings ratio of 13.96 and a beta of 1.54. Canadian Natural Resources Limited has a twelve month low of $52.66 and a twelve month high of $82.58. The company has a current ratio of 0.96, a quick ratio of 0.69 and a debt-to-equity ratio of 0.25. The stock has a 50-day moving average of $73.82 and a 200 day moving average of $67.68.

Canadian Natural Resources (NYSE:CNQ) (TSE:CNQ) last released its quarterly earnings results on Thursday, February 29th. The oil and gas producer reported $1.72 earnings per share for the quarter, topping analysts’ consensus estimates of $1.59 by $0.13. The company had revenue of $7.02 billion during the quarter, compared to analysts’ expectations of $6.73 billion. Canadian Natural Resources had a return on equity of 21.74% and a net margin of 20.15%. Sell-side analysts anticipate that Canadian Natural Resources Limited will post 5.7 EPS for the current fiscal year.

Canadian Natural Resources Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, April 5th. Investors of record on Friday, March 15th were issued a $0.774 dividend. This is a boost from Canadian Natural Resources’s previous quarterly dividend of $0.72. The ex-dividend date was Thursday, March 14th. This represents a $3.10 dividend on an annualized basis and a yield of 4.00%. Canadian Natural Resources’s dividend payout ratio is presently 53.25%.

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).