PFG Investments LLC Cuts Holdings in Canadian Natural Resources Limited (NYSE:CNQ)

PFG Investments LLC lessened its stake in Canadian Natural Resources Limited (NYSE:CNQ) (TSE:CNQ) by 24.3% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 13,046 shares of the oil and gas producer’s stock after selling 4,179 shares during the quarter. PFG Investments LLC’s holdings in Canadian Natural Resources were worth $433,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. RFP Financial Group LLC lifted its holdings in 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 worth $25,000 after buying an additional 352 shares during the last quarter. Park Place Capital Corp raised its position in shares of Canadian Natural Resources by 100.0% during the 2nd 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 in the last quarter. Sugarloaf Wealth Management LLC lifted its stake in Canadian Natural Resources by 100.0% during the second quarter. Sugarloaf Wealth Management LLC now owns 728 shares of the oil and gas producer’s stock worth $26,000 after purchasing an additional 364 shares during the last quarter. Bruce G. Allen Investments LLC boosted its holdings in 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 valued at $31,000 after purchasing an additional 415 shares in the last quarter. Finally, GAMMA Investing LLC increased its stake 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 purchasing an additional 447 shares during the last quarter. 74.03% of the stock is owned by institutional investors and hedge funds.

Canadian Natural Resources Price Performance

Shares of CNQ opened at $34.41 on Wednesday. The firm has a 50-day simple moving average of $34.86 and a 200-day simple moving average of $35.87. Canadian Natural Resources Limited has a fifty-two week low of $29.45 and a fifty-two week high of $41.29. The company has a market capitalization of $73.22 billion, a price-to-earnings ratio of 13.71 and a beta of 1.50. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.59 and a current ratio of 0.88.

Canadian Natural Resources (NYSE:CNQ) (TSE:CNQ) last issued its earnings results on Thursday, August 1st. The oil and gas producer reported $0.88 earnings per share for the quarter, beating the consensus estimate of $0.62 by $0.26. The business had revenue of $7.76 billion for the quarter, compared to the consensus estimate 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 in the previous year, the firm earned $0.43 earnings per share. On average, equities research analysts anticipate that Canadian Natural Resources Limited will post 2.5 earnings per share for the current year.

Canadian Natural Resources Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, January 3rd. Shareholders of record on Friday, December 13th will be given a dividend of $0.388 per share. This is a positive change from Canadian Natural Resources’s previous quarterly dividend of $0.38. This represents a $1.55 annualized dividend and a dividend yield of 4.51%. The ex-dividend date of this dividend is Friday, December 13th. Canadian Natural Resources’s payout ratio is presently 66.14%.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the stock. Wolfe Research initiated coverage on shares of Canadian Natural Resources in a report on Thursday, July 18th. They issued a “peer perform” rating for the company. StockNews.com lowered Canadian Natural Resources from a “buy” rating to a “hold” rating in a report on Friday, August 23rd. Finally, Desjardins raised Canadian Natural Resources from a “hold” rating to a “moderate buy” rating in a report on Tuesday, October 8th. Five equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company. Based on data from MarketBeat, Canadian Natural Resources presently has a consensus rating of “Hold” and an average price target of $49.50.

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).