Net Worth Advisory Group Buys New Holdings in Canadian Natural Resources Limited (NYSE:CNQ)

Net Worth Advisory Group purchased a new position in Canadian Natural Resources Limited (NYSE:CNQ) (TSE:CNQ) in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 10,159 shares of the oil and gas producer’s stock, valued at approximately $337,000.

A number of other institutional investors have also added to or reduced their stakes in CNQ. Park Place Capital Corp boosted its position in shares of Canadian Natural Resources by 100.0% during the second quarter. Park Place Capital Corp now owns 716 shares of the oil and gas producer’s stock worth $25,000 after acquiring an additional 358 shares during the last quarter. RFP Financial Group LLC boosted its holdings in shares of Canadian Natural Resources by 98.3% during the 2nd quarter. RFP Financial Group LLC now owns 710 shares of the oil and gas producer’s stock valued at $25,000 after purchasing an additional 352 shares during the last quarter. Sugarloaf Wealth Management LLC boosted its holdings in shares of Canadian Natural Resources by 100.0% during the 2nd quarter. Sugarloaf Wealth Management LLC now owns 728 shares of the oil and gas producer’s stock valued at $26,000 after purchasing an additional 364 shares during the last quarter. Bruce G. Allen Investments LLC grew its position in shares of Canadian Natural Resources by 91.6% during the second quarter. Bruce G. Allen Investments LLC now owns 868 shares of the oil and gas producer’s stock valued at $31,000 after purchasing an additional 415 shares in the last quarter. Finally, GAMMA Investing LLC increased its holdings in shares of Canadian Natural Resources by 104.7% in the second quarter. GAMMA Investing LLC now owns 874 shares of the oil and gas producer’s stock worth $31,000 after purchasing an additional 447 shares during the last quarter. 74.03% of the stock is owned by hedge funds and other institutional investors.

Canadian Natural Resources Stock Down 0.4 %

Shares of CNQ opened at $35.56 on Monday. The company has a quick ratio of 0.59, a current ratio of 0.88 and a debt-to-equity ratio of 0.24. The business has a fifty day moving average of $35.00 and a 200 day moving average of $36.13. The company has a market cap of $75.67 billion, a PE ratio of 14.17 and a beta of 1.50. Canadian Natural Resources Limited has a 52-week low of $29.45 and a 52-week high of $41.29.

Canadian Natural Resources (NYSE:CNQ) (TSE:CNQ) last released its earnings results on Thursday, August 1st. The oil and gas producer reported $0.88 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.62 by $0.26. The firm had revenue of $7.76 billion during the quarter, compared to analyst estimates of $6.19 billion. Canadian Natural Resources had a net margin of 18.05% and a return on equity of 22.09%. During the same quarter last year, the business earned $0.43 EPS. On average, sell-side analysts expect that Canadian Natural Resources Limited will post 2.5 EPS for the current year.

Canadian Natural Resources Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 3rd. Stockholders of record on Friday, December 13th will be paid a dividend of $0.388 per share. This is a boost from Canadian Natural Resources’s previous quarterly dividend of $0.38. The ex-dividend date is Friday, December 13th. This represents a $1.55 dividend on an annualized basis and a dividend yield of 4.36%. Canadian Natural Resources’s dividend payout ratio is currently 66.14%.

Analyst Ratings Changes

A number of research analysts have recently commented on CNQ shares. Desjardins upgraded Canadian Natural Resources from a “hold” rating to a “moderate buy” rating in a research report on Tuesday, October 8th. StockNews.com cut shares of Canadian Natural Resources from a “buy” rating to a “hold” rating in a research note on Friday, August 23rd. Finally, Wolfe Research began coverage on shares of Canadian Natural Resources in a research report on Thursday, July 18th. They set a “peer perform” rating on the stock. Five investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $49.50.

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).