Virtus ETF Advisers LLC decreased its position in shares of Canadian Natural Resources Limited (NYSE:CNQ) (TSE:CNQ) by 27.0% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 71,703 shares of the oil and gas producer’s stock after selling 26,512 shares during the period. Virtus ETF Advisers LLC’s holdings in Canadian Natural Resources were worth $1,148,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also recently bought and sold shares of the company. Mitsubishi UFJ Securities Holdings Co. Ltd. purchased a new position in Canadian Natural Resources during the 3rd quarter worth approximately $1,024,000. AXA S.A. grew its stake in Canadian Natural Resources by 22.9% during the 3rd quarter. AXA S.A. now owns 59,394 shares of the oil and gas producer’s stock worth $951,000 after buying an additional 11,074 shares during the last quarter. Qtron Investments LLC grew its stake in Canadian Natural Resources by 16.0% during the 3rd quarter. Qtron Investments LLC now owns 27,066 shares of the oil and gas producer’s stock worth $432,000 after buying an additional 3,738 shares during the last quarter. JPMorgan Chase & Co. grew its stake in shares of Canadian Natural Resources by 5.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 3,462,646 shares of the oil and gas producer’s stock valued at $55,575,000 after purchasing an additional 182,388 shares during the last quarter. Finally, Bank of Nova Scotia Trust Co. grew its stake in shares of Canadian Natural Resources by 1.3% in the 3rd quarter. Bank of Nova Scotia Trust Co. now owns 390,381 shares of the oil and gas producer’s stock valued at $6,250,000 after purchasing an additional 5,090 shares during the last quarter. 61.66% of the stock is currently owned by hedge funds and other institutional investors.
Several research analysts have weighed in on CNQ shares. Tudor Pickering reiterated a “buy” rating and issued a $29.00 target price on shares of Canadian Natural Resources in a research note on Friday, August 7th. Morgan Stanley reduced their price target on Canadian Natural Resources from $36.00 to $31.00 and set an “overweight” rating for the company in a report on Tuesday, October 20th. Stifel Nicolaus boosted their price target on Canadian Natural Resources from $27.00 to $32.00 and gave the stock a “buy” rating in a report on Friday, August 7th. CIBC boosted their price target on Canadian Natural Resources from $30.00 to $31.00 and gave the stock an “outperform” rating in a research note on Thursday, November 12th. Finally, Barclays initiated coverage on Canadian Natural Resources in a research note on Wednesday, September 2nd. They set an “overweight” rating and a $30.00 price objective on the stock. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and fifteen have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average price target of $32.88.
Shares of NYSE:CNQ traded down $0.64 on Monday, reaching $23.38. 70,564 shares of the company traded hands, compared to its average volume of 4,282,395. Canadian Natural Resources Limited has a fifty-two week low of $6.71 and a fifty-two week high of $32.79. The company’s 50 day moving average is $18.62 and its 200-day moving average is $18.33. The stock has a market capitalization of $27.96 billion, a PE ratio of -66.72 and a beta of 1.69. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.97 and a quick ratio of 0.71.
Canadian Natural Resources (NYSE:CNQ) (TSE:CNQ) last announced its quarterly earnings data on Thursday, November 5th. The oil and gas producer reported $0.11 EPS for the quarter, beating analysts’ consensus estimates of $0.02 by $0.09. Canadian Natural Resources had a negative return on equity of 1.74% and a negative net margin of 3.03%. The company had revenue of $3.38 billion during the quarter, compared to the consensus estimate of $3.81 billion. During the same quarter in the prior year, the firm earned $1.04 EPS. As a group, analysts expect that Canadian Natural Resources Limited will post -0.47 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 5th. Stockholders of record on Wednesday, December 9th will be given a dividend of $0.3236 per share. This represents a $1.29 dividend on an annualized basis and a dividend yield of 5.54%. The ex-dividend date is Tuesday, December 8th. This is an increase from Canadian Natural Resources’s previous quarterly dividend of $0.32. Canadian Natural Resources’s dividend payout ratio is 57.27%.
Canadian Natural Resources Company Profile
Canadian Natural Resources Limited explores for, develops, produces, and markets crude oil, natural gas, and natural gas liquids (NGLs). The company offers synthetic crude oil (SCO), light and medium crude oil, bitumen (thermal oil), primary heavy crude oil, and Pelican Lake heavy crude oil. Its midstream assets include two crude oil pipeline systems; and a 50% working interest in an 84-megawatt cogeneration plant at Primrose.
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