Canadian Natural Resources Limited (NYSE:CNQ) Shares Acquired by Kingsview Wealth Management LLC

Kingsview Wealth Management LLC lifted its holdings in Canadian Natural Resources Limited (NYSE:CNQ) (TSE:CNQ) by 4.9% in the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 9,018 shares of the oil and gas producer’s stock after purchasing an additional 419 shares during the period. Kingsview Wealth Management LLC’s holdings in Canadian Natural Resources were worth $300,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in CNQ. Park Place Capital Corp increased 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 period. RFP Financial Group LLC raised its position in Canadian Natural Resources by 98.3% in 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 in the last quarter. Sugarloaf Wealth Management LLC boosted its stake in shares of Canadian Natural Resources by 100.0% in the 2nd quarter. Sugarloaf Wealth Management LLC now owns 728 shares of the oil and gas producer’s stock valued at $26,000 after buying an additional 364 shares during the period. Bruce G. Allen Investments LLC increased its stake 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 worth $31,000 after buying an additional 415 shares during the period. Finally, GAMMA Investing LLC raised its holdings in 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 valued at $31,000 after acquiring an additional 447 shares in the last quarter. 74.03% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts have commented on CNQ shares. Desjardins upgraded shares of Canadian Natural Resources from a “hold” rating to a “moderate buy” rating in a report on Tuesday, October 8th. StockNews.com lowered Canadian Natural Resources from a “buy” rating to a “hold” rating in a report on Friday, August 23rd. Five analysts have rated the stock with a hold rating, Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $51.00.

Canadian Natural Resources Stock Performance

Shares of Canadian Natural Resources stock opened at $33.82 on Friday. The firm has a market capitalization of $71.37 billion, a P/E ratio of 13.13 and a beta of 1.50. The company has a quick ratio of 0.53, a current ratio of 0.84 and a debt-to-equity ratio of 0.21. Canadian Natural Resources Limited has a 52 week low of $29.45 and a 52 week high of $41.29. The firm’s 50 day moving average is $34.65 and its two-hundred day moving average is $35.21.

Canadian Natural Resources (NYSE:CNQ) (TSE:CNQ) last announced its quarterly earnings results on Thursday, October 31st. The oil and gas producer reported $0.97 EPS for the quarter, topping the consensus estimate of $0.67 by $0.30. Canadian Natural Resources had a net margin of 18.45% and a return on equity of 20.07%. The firm had revenue of $7.62 billion for the quarter, compared to analyst estimates of $6.40 billion. During the same period last year, the business earned $0.96 EPS. Research analysts forecast that Canadian Natural Resources Limited will post 2.47 EPS for the current fiscal year.

Canadian Natural Resources Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, January 3rd. Investors of record on Friday, December 13th will be given a $0.388 dividend. The ex-dividend date is Friday, December 13th. This is a boost from Canadian Natural Resources’s previous quarterly dividend of $0.38. This represents a $1.55 dividend on an annualized basis and a dividend yield of 4.59%. Canadian Natural Resources’s dividend payout ratio is 60.58%.

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).