Canadian Natural Resources Limited (NYSE:CNQ) Position Increased by Credit Suisse AG

Posted by Defense World Staff on Aug 21st, 2023

Credit Suisse AG raised its holdings in shares of Canadian Natural Resources Limited (NYSE:CNQ – Free Report) (TSE:CNQ) by 1.4% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 978,655 shares of the oil and gas producer’s stock after buying an additional 13,980 shares during the period. Credit Suisse AG owned about 0.09% of Canadian Natural Resources worth $54,169,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in the business. Aspire Private Capital LLC purchased a new stake in shares of Canadian Natural Resources in the 1st quarter valued at approximately $11,623,500,000. Money Concepts Capital Corp purchased a new stake in shares of Canadian Natural Resources in the 4th quarter valued at approximately $25,000. Captrust Financial Advisors lifted its position in shares of Canadian Natural Resources by 57.6% in the 2nd quarter. Captrust Financial Advisors now owns 594 shares of the oil and gas producer’s stock valued at $32,000 after acquiring an additional 217 shares in the last quarter. Delta Asset Management LLC TN purchased a new stake in shares of Canadian Natural Resources in the 4th quarter valued at approximately $33,000. Finally, Natixis purchased a new stake in shares of Canadian Natural Resources in the 4th quarter valued at approximately $42,000. 71.24% of the stock is currently owned by institutional investors.

Canadian Natural Resources Stock Performance

NYSE:CNQ opened at $61.57 on Monday. Canadian Natural Resources Limited has a 1 year low of $44.45 and a 1 year high of $62.57. The firm’s fifty day simple moving average is $57.72 and its 200 day simple moving average is $57.22. The company has a current ratio of 0.70, a quick ratio of 0.47 and a debt-to-equity ratio of 0.25. The firm has a market capitalization of $67.26 billion, a PE ratio of 12.10, a PEG ratio of 11.42 and a beta of 1.58.

Canadian Natural Resources Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 5th. Investors of record on Friday, September 15th will be paid a $0.6744 dividend. The ex-dividend date is Thursday, September 14th. This is a positive change from Canadian Natural Resources’s previous quarterly dividend of $0.66. This represents a $2.70 dividend on an annualized basis and a yield of 4.38%. Canadian Natural Resources’s dividend payout ratio (DPR) is presently 52.06%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the stock. National Bank Financial downgraded shares of Canadian Natural Resources from an “outperform” rating to a “sector perform” rating in a research report on Friday, August 4th. Wells Fargo & Company increased their target price on shares of Canadian Natural Resources from $80.00 to $85.00 and gave the stock an “equal weight” rating in a research report on Friday, August 4th. UBS Group began coverage on shares of Canadian Natural Resources in a research report on Wednesday, July 12th. They issued a “buy” rating for the company. Finally, StockNews.com began coverage on shares of Canadian Natural Resources in a research report on Thursday. They issued a “hold” rating for the company. Four investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $88.17.

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About Canadian Natural Resources

(Free Report)

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).