Wealth Enhancement Advisory Services LLC Has $379,000 Stake in Canadian Natural Resources Limited (NYSE:CNQ)

Wealth Enhancement Advisory Services LLC cut its position in Canadian Natural Resources Limited (NYSE:CNQ) (TSE:CNQ) by 38.0% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 11,410 shares of the oil and gas producer’s stock after selling 7,008 shares during the quarter. Wealth Enhancement Advisory Services LLC’s holdings in Canadian Natural Resources were worth $379,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in CNQ. Park Place Capital Corp raised its position in shares of Canadian Natural Resources by 100.0% in the 2nd quarter. Park Place Capital Corp now owns 716 shares of the oil and gas producer’s stock valued at $25,000 after buying an additional 358 shares in the last quarter. RFP Financial Group LLC raised its position in shares of 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 buying an additional 352 shares in the last quarter. Sugarloaf Wealth Management LLC raised its position 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 in the last quarter. Bruce G. Allen Investments LLC raised its position in shares of Canadian Natural Resources by 91.6% in the 2nd quarter. Bruce G. Allen Investments LLC now owns 868 shares of the oil and gas producer’s stock valued at $31,000 after buying an additional 415 shares in the last quarter. Finally, GAMMA Investing LLC raised its position in shares of Canadian Natural Resources by 104.7% in the 2nd quarter. GAMMA Investing LLC now owns 874 shares of the oil and gas producer’s stock valued at $31,000 after buying an additional 447 shares in the last quarter. 74.03% of the stock is currently owned by institutional investors and hedge funds.

Canadian Natural Resources Trading Down 1.8 %

Shares of Canadian Natural Resources stock opened at $34.17 on Friday. The firm has a market capitalization of $72.22 billion, a PE ratio of 13.27 and a beta of 1.50. The company has a current ratio of 0.84, a quick ratio of 0.53 and a debt-to-equity ratio of 0.21. The firm’s 50 day moving average is $34.51 and its 200 day moving average is $35.67. Canadian Natural Resources Limited has a 1 year low of $29.45 and a 1 year high of $41.29.

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 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.67 by $0.30. The company had revenue of $7.62 billion for the quarter, compared to analyst estimates of $6.40 billion. Canadian Natural Resources had a net margin of 18.45% and a return on equity of 20.07%. During the same period in the previous year, the firm posted $0.96 EPS. Equities research analysts forecast that Canadian Natural Resources Limited will post 2.38 earnings per share for the current fiscal year.

Canadian Natural Resources Increases Dividend

The firm also recently announced 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 4.54%. This is a positive change 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 payout ratio is presently 60.58%.

Wall Street Analysts Forecast Growth

CNQ has been the subject of several analyst reports. StockNews.com cut shares of Canadian Natural Resources from a “buy” rating to a “hold” rating in a research report on Friday, August 23rd. Wolfe Research initiated coverage on shares of Canadian Natural Resources in a research report on Thursday, July 18th. They issued a “peer perform” rating for the company. Finally, Desjardins raised shares of Canadian Natural Resources from a “hold” rating to a “moderate buy” rating in a report on Tuesday, October 8th. Five analysts have rated the stock with a hold rating, According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $51.00.

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).