Immersion Capital LLP Has $2.09 Million Stock Holdings in Canadian Natural Resources Limited $CNQ

Immersion Capital LLP lessened its stake in Canadian Natural Resources Limited (NYSE:CNQ) (TSE:CNQ) by 27.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 61,874 shares of the oil and gas producer’s stock after selling 24,000 shares during the period. Canadian Natural Resources makes up approximately 3.0% of Immersion Capital LLP’s holdings, making the stock its 9th largest position. Immersion Capital LLP’s holdings in Canadian Natural Resources were worth $2,094,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Manchester Capital Management LLC bought a new stake in Canadian Natural Resources in the 4th quarter worth approximately $28,000. Leonteq Securities AG purchased a new position in shares of Canadian Natural Resources during the 4th quarter valued at $31,000. GoalVest Advisory LLC purchased a new position in shares of Canadian Natural Resources during the 4th quarter valued at $32,000. Quarry LP purchased a new position in shares of Canadian Natural Resources during the 3rd quarter valued at $32,000. Finally, LOM Asset Management Ltd purchased a new position in shares of Canadian Natural Resources during the 4th quarter valued at $34,000. Institutional investors own 74.03% of the company’s stock.

Canadian Natural Resources Stock Performance

Canadian Natural Resources stock opened at $42.34 on Thursday. The company’s 50-day moving average price is $46.19 and its 200-day moving average price is $41.64. Canadian Natural Resources Limited has a twelve month low of $29.30 and a twelve month high of $51.34. The company has a quick ratio of 0.68, a current ratio of 0.98 and a debt-to-equity ratio of 0.37. The company has a market cap of $88.13 billion, a PE ratio of 12.64 and a beta of 0.45.

Canadian Natural Resources (NYSE:CNQ) (TSE:CNQ) last posted its earnings results on Thursday, May 7th. The oil and gas producer reported $0.85 earnings per share for the quarter, topping analysts’ consensus estimates of $0.74 by $0.11. Canadian Natural Resources had a net margin of 22.04% and a return on equity of 17.49%. The firm had revenue of $7.72 billion for the quarter, compared to the consensus estimate of $7.57 billion. During the same period in the previous year, the firm posted $1.16 EPS. On average, equities research analysts forecast that Canadian Natural Resources Limited will post 4.2 EPS for the current fiscal year.

Canadian Natural Resources Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 7th. Stockholders of record on Tuesday, June 23rd will be issued a $0.625 dividend. The ex-dividend date is Tuesday, June 23rd. This represents a $2.50 dividend on an annualized basis and a dividend yield of 5.9%. Canadian Natural Resources’s payout ratio is 54.03%.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the stock. Zacks Research cut shares of Canadian Natural Resources from a “strong-buy” rating to a “hold” rating in a research note on Monday, June 8th. Raymond James Financial upgraded shares of Canadian Natural Resources from a “market perform” rating to an “outperform” rating in a research note on Thursday, May 7th. Royal Bank Of Canada lifted their target price on shares of Canadian Natural Resources from $61.00 to $65.00 and gave the company an “outperform” rating in a research note on Friday, March 6th. Weiss Ratings cut shares of Canadian Natural Resources from a “buy (b)” rating to a “buy (b-)” rating in a research note on Monday, May 11th. Finally, Scotiabank reiterated an “outperform” rating on shares of Canadian Natural Resources in a research note on Wednesday, May 20th. Seven equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $57.00.

Canadian Natural Resources Company Profile

Canadian Natural Resources Limited (NYSE: CNQ) is a Calgary-based independent oil and natural gas exploration and production company. Established in the early 1970s and publicly listed in Canada and the United States, the company is principally engaged in the exploration, development, production, and marketing of crude oil, natural gas and natural gas liquids. Its asset base spans conventional and unconventional reservoirs and includes oil sands mining and in-situ thermal projects, midstream processing and upgrading capacity, and related field operations.

The company’s operations are concentrated in Western Canada, where it develops heavy crude, bitumen from oil sands and conventional light crude and natural gas resources.