Lorne Steinberg Wealth Management Inc. Boosts Stake in Canadian Natural Resources Limited $CNQ

Lorne Steinberg Wealth Management Inc. increased its stake in Canadian Natural Resources Limited (NYSE:CNQ) (TSE:CNQ) by 2.0% in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 87,210 shares of the oil and gas producer’s stock after acquiring an additional 1,675 shares during the period. Lorne Steinberg Wealth Management Inc.’s holdings in Canadian Natural Resources were worth $2,743,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Ameritas Advisory Services LLC bought a new position in Canadian Natural Resources during the 2nd quarter worth approximately $27,000. Investment Management Corp VA ADV grew its stake in Canadian Natural Resources by 158.3% in the first quarter. Investment Management Corp VA ADV now owns 997 shares of the oil and gas producer’s stock worth $31,000 after purchasing an additional 611 shares during the period. Sierra Ocean LLC boosted its stake in Canadian Natural Resources by 104.0% during the first quarter. Sierra Ocean LLC now owns 1,569 shares of the oil and gas producer’s stock worth $48,000 after acquiring an additional 800 shares in the last quarter. Geneos Wealth Management Inc. boosted its position in shares of Canadian Natural Resources by 47.3% in the 1st quarter. Geneos Wealth Management Inc. now owns 1,644 shares of the oil and gas producer’s stock worth $51,000 after purchasing an additional 528 shares in the last quarter. Finally, Adirondack Trust Co. grew its stake in shares of Canadian Natural Resources by 317.1% in the second quarter. Adirondack Trust Co. now owns 1,710 shares of the oil and gas producer’s stock worth $54,000 after acquiring an additional 1,300 shares during the last quarter. 74.03% of the stock is owned by hedge funds and other institutional investors.

Canadian Natural Resources Stock Down 0.4%

Canadian Natural Resources stock opened at $30.10 on Monday. The company has a debt-to-equity ratio of 0.38, a current ratio of 0.85 and a quick ratio of 0.54. The stock has a market capitalization of $62.82 billion, a PE ratio of 10.67 and a beta of 0.97. Canadian Natural Resources Limited has a 12 month low of $24.65 and a 12 month high of $35.93. The business has a 50 day simple moving average of $31.32 and a 200-day simple moving average of $30.85.

Canadian Natural Resources (NYSE:CNQ) (TSE:CNQ) last released its earnings results on Thursday, August 7th. The oil and gas producer reported $0.51 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.44 by $0.07. The business had revenue of $6.39 billion during the quarter, compared to analyst estimates of $8.97 billion. Canadian Natural Resources had a net margin of 19.00% and a return on equity of 19.67%. During the same quarter in the prior year, the firm earned $0.88 earnings per share. On average, analysts anticipate that Canadian Natural Resources Limited will post 2.45 EPS for the current fiscal year.

Canadian Natural Resources Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 3rd. Investors of record on Friday, September 19th were issued a $0.4269 dividend. This is an increase from Canadian Natural Resources’s previous quarterly dividend of $0.42. The ex-dividend date was Friday, September 19th. This represents a $1.71 annualized dividend and a yield of 5.7%. Canadian Natural Resources’s payout ratio is presently 60.64%.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on CNQ shares. Raymond James Financial reiterated an “outperform” rating on shares of Canadian Natural Resources in a research note on Friday, August 8th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Canadian Natural Resources in a report on Wednesday, October 8th. Wells Fargo & Company raised Canadian Natural Resources to a “hold” rating in a report on Thursday. Zacks Research raised Canadian Natural Resources from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, August 26th. Finally, Royal Bank Of Canada reiterated an “outperform” rating and set a $62.00 target price on shares of Canadian Natural Resources in a research report on Wednesday, September 24th. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Canadian Natural Resources has a consensus rating of “Moderate Buy” and an average price target of $62.00.

Canadian Natural Resources 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).