Net Worth Advisory Group Invests $337,000 in Canadian Natural Resources Limited (NYSE:CNQ)

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

Other hedge funds also recently made changes to their positions in the company. Park Avenue Securities LLC increased its position in Canadian Natural Resources by 15.2% during the 1st quarter. Park Avenue Securities LLC now owns 19,855 shares of the oil and gas producer’s stock valued at $1,515,000 after buying an additional 2,626 shares in the last quarter. Gulf International Bank UK Ltd boosted its stake in Canadian Natural Resources by 4.4% in the 1st quarter. Gulf International Bank UK Ltd now owns 10,729 shares of the oil and gas producer’s stock worth $818,000 after purchasing an additional 452 shares in the last quarter. Richelieu Gestion SA grew its position in Canadian Natural Resources by 8.0% during the 1st quarter. Richelieu Gestion SA now owns 31,401 shares of the oil and gas producer’s stock valued at $2,397,000 after purchasing an additional 2,316 shares during the last quarter. Eagle Rock Investment Company LLC increased its stake in Canadian Natural Resources by 50.0% during the 1st quarter. Eagle Rock Investment Company LLC now owns 45,784 shares of the oil and gas producer’s stock valued at $3,494,000 after purchasing an additional 15,268 shares in the last quarter. Finally, Graybill Wealth Management LTD. purchased a new position in Canadian Natural Resources in the first quarter worth about $4,194,000. 74.03% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

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

Canadian Natural Resources Trading Down 0.4 %

Shares of Canadian Natural Resources stock opened at $35.56 on Monday. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.88 and a quick ratio of 0.59. The stock has a market capitalization of $75.67 billion, a PE ratio of 14.17 and a beta of 1.50. Canadian Natural Resources Limited has a 1-year low of $29.45 and a 1-year high of $41.29. The company’s fifty day simple moving average is $35.00 and its 200-day simple moving average is $36.13.

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

Canadian Natural Resources Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 3rd. Stockholders of record on Friday, December 13th will be given a dividend of $0.388 per share. This represents a $1.55 annualized dividend and a dividend yield of 4.36%. This is an increase 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 (DPR) is presently 66.14%.

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).