Prudential Financial Inc. Buys 33,877 Shares of Canadian Natural Resources Limited $CNQ

Prudential Financial Inc. boosted its stake in shares of Canadian Natural Resources Limited (NYSE:CNQ - Free Report) TSE: CNQ by 80.0% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 76,235 shares of the oil and gas producer's stock after buying an additional 33,877 shares during the quarter. Prudential Financial Inc.'s holdings in Canadian Natural Resources were worth $2,391,000 as of its most recent SEC filing.

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Other institutional investors and hedge funds also recently made changes to their positions in the company. Cetera Investment Advisers lifted its stake in shares of Canadian Natural Resources by 1.9% in the first quarter. Cetera Investment Advisers now owns 86,369 shares of the oil and gas producer's stock worth $2,660,000 after acquiring an additional 1,582 shares during the period. Thoroughbred Financial Services LLC raised its holdings in Canadian Natural Resources by 47.6% during the 1st quarter. Thoroughbred Financial Services LLC now owns 12,800 shares of the oil and gas producer's stock worth $394,000 after purchasing an additional 4,130 shares during the last quarter. Legacy Capital Group California Inc. acquired a new position in shares of Canadian Natural Resources in the 1st quarter worth approximately $205,000. Goldman Sachs Group Inc. boosted its stake in shares of Canadian Natural Resources by 240.8% in the 1st quarter. Goldman Sachs Group Inc. now owns 22,776,594 shares of the oil and gas producer's stock valued at $701,519,000 after purchasing an additional 16,094,168 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its stake in shares of Canadian Natural Resources by 5.4% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 6,172,828 shares of the oil and gas producer's stock valued at $189,915,000 after purchasing an additional 318,298 shares during the last quarter. Institutional investors and hedge funds own 74.03% of the company's stock.

Analysts Set New Price Targets

Several research firms recently issued reports on CNQ. Raymond James Financial restated an "outperform" rating on shares of Canadian Natural Resources in a report on Friday, August 8th. Zacks Research raised Canadian Natural Resources from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, August 26th. Scotiabank restated an "outperform" rating on shares of Canadian Natural Resources in a research report on Thursday, October 9th. TD Securities reiterated a "buy" rating on shares of Canadian Natural Resources in a report on Tuesday, September 30th. Finally, Wells Fargo & Company raised Canadian Natural Resources to a "hold" rating in a research note on Thursday, October 16th. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and five have given a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $62.00.

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Canadian Natural Resources Stock Up 0.9%

CNQ stock opened at $34.45 on Friday. The stock's 50 day simple moving average is $32.25 and its 200 day simple moving average is $31.72. The company has a market cap of $71.76 billion, a P/E ratio of 15.24 and a beta of 0.70. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.53 and a current ratio of 0.86. Canadian Natural Resources Limited has a fifty-two week low of $24.65 and a fifty-two week high of $35.09.

Canadian Natural Resources (NYSE:CNQ - Get Free Report) TSE: CNQ last released its quarterly earnings data on Thursday, November 6th. The oil and gas producer reported $0.62 EPS for the quarter, beating the consensus estimate of $0.54 by $0.08. Canadian Natural Resources had a return on equity of 18.93% and a net margin of 14.90%.The firm had revenue of $6.79 billion during the quarter, compared to the consensus estimate of $6.81 billion. During the same quarter in the previous year, the company posted $0.97 earnings per share. On average, research analysts expect that Canadian Natural Resources Limited will post 2.45 earnings per share for the current fiscal year.

Canadian Natural Resources Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 6th. Shareholders of record on Friday, December 12th will be issued a dividend of $0.5875 per share. The ex-dividend date is Friday, December 12th. This is a positive change from Canadian Natural Resources's previous quarterly dividend of $0.43. This represents a $2.35 annualized dividend and a yield of 6.8%. Canadian Natural Resources's dividend payout ratio is currently 75.66%.

Canadian Natural Resources 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).

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