Raymond James & Associates Has $27.32 Million Stock Holdings in Canadian Natural Resources Limited (NYSE:CNQ)

Raymond James & Associates cut its stake in Canadian Natural Resources Limited (NYSE:CNQ) (TSE:CNQ) by 4.6% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 822,637 shares of the oil and gas producer’s stock after selling 39,743 shares during the quarter. Raymond James & Associates’ holdings in Canadian Natural Resources were worth $27,320,000 as of its most recent filing with the Securities and Exchange Commission.

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

Canadian Natural Resources Stock Down 0.0 %

CNQ stock opened at $35.11 on Friday. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.88 and a quick ratio of 0.59. Canadian Natural Resources Limited has a 52-week low of $29.45 and a 52-week high of $41.29. The company has a 50-day moving average of $34.97 and a two-hundred day moving average of $36.06. The stock has a market capitalization of $74.70 billion, a price-to-earnings ratio of 13.99 and a beta of 1.50.

Canadian Natural Resources (NYSE:CNQ) (TSE:CNQ) last released its quarterly earnings results on Thursday, August 1st. The oil and gas producer reported $0.88 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.62 by $0.26. Canadian Natural Resources had a net margin of 18.05% and a return on equity of 22.09%. The company had revenue of $7.76 billion during the quarter, compared to analysts’ expectations of $6.19 billion. During the same period in the prior year, the company earned $0.43 earnings per share. As a group, equities research analysts anticipate that Canadian Natural Resources Limited will post 2.5 EPS for the current year.

Canadian Natural Resources Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, January 3rd. Shareholders of record on Friday, December 13th will be issued a dividend of $0.388 per share. This represents a $1.55 dividend on an annualized basis and a yield of 4.42%. This is a boost from Canadian Natural Resources’s previous quarterly dividend of $0.38. The ex-dividend date of this dividend is Friday, December 13th. Canadian Natural Resources’s dividend payout ratio is 66.14%.

Analyst Upgrades and Downgrades

Several research firms have commented on CNQ. Desjardins raised shares of Canadian Natural Resources from a “hold” rating to a “moderate buy” rating in a research report on Tuesday, October 8th. StockNews.com downgraded shares of Canadian Natural Resources from a “buy” rating to a “hold” rating in a research report 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’s stock. According to data from MarketBeat.com, Canadian Natural Resources currently has an average rating of “Hold” and a consensus target price of $49.50.

About Canadian Natural Resources

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).