Carnegie Investment Counsel Purchases 532 Shares of Canadian Natural Resources Limited $CNQ

Carnegie Investment Counsel raised its position in Canadian Natural Resources Limited (NYSE:CNQ) (TSE:CNQ) by 0.7% in the 2nd quarter, Holdings Channel.com reports. The firm owned 71,589 shares of the oil and gas producer’s stock after buying an additional 532 shares during the period. Carnegie Investment Counsel’s holdings in Canadian Natural Resources were worth $2,248,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of the company. MAI Capital Management raised its position in Canadian Natural Resources by 9.6% in the first quarter. MAI Capital Management now owns 4,365 shares of the oil and gas producer’s stock valued at $134,000 after purchasing an additional 382 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. increased its stake in shares of Canadian Natural Resources by 8.7% in the second quarter. Thurston Springer Miller Herd & Titak Inc. now owns 5,613 shares of the oil and gas producer’s stock valued at $176,000 after buying an additional 448 shares during the period. Verdence Capital Advisors LLC increased its stake in shares of Canadian Natural Resources by 0.8% in the second quarter. Verdence Capital Advisors LLC now owns 58,891 shares of the oil and gas producer’s stock valued at $1,849,000 after buying an additional 460 shares during the period. Moody National Bank Trust Division increased its stake in shares of Canadian Natural Resources by 4.6% in the second quarter. Moody National Bank Trust Division now owns 11,081 shares of the oil and gas producer’s stock valued at $348,000 after buying an additional 492 shares during the period. Finally, PDS Planning Inc increased its stake in shares of Canadian Natural Resources by 5.1% in the second quarter. PDS Planning Inc now owns 10,798 shares of the oil and gas producer’s stock valued at $339,000 after buying an additional 520 shares during the period. 74.03% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

CNQ has been the subject of several recent research reports. Wells Fargo & Company raised Canadian Natural Resources to a “hold” rating in a research note on Thursday, October 16th. Scotiabank reissued an “outperform” rating on shares of Canadian Natural Resources in a research note on Thursday, October 9th. Royal Bank Of Canada reissued an “outperform” rating and issued a $62.00 price target on shares of Canadian Natural Resources in a research note on Wednesday, September 24th. National Bankshares reissued a “sector perform” rating on shares of Canadian Natural Resources in a research note on Thursday, July 17th. Finally, TD Securities reaffirmed a “buy” rating on shares of Canadian Natural Resources in a research note on Tuesday, September 30th. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $62.00.

Canadian Natural Resources Trading Up 0.1%

Shares of Canadian Natural Resources stock opened at $31.28 on Friday. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.54 and a current ratio of 0.85. Canadian Natural Resources Limited has a 52 week low of $24.65 and a 52 week high of $35.63. The stock has a 50 day moving average price of $31.39 and a two-hundred day moving average price of $30.97. The stock has a market capitalization of $65.29 billion, a PE ratio of 11.09 and a beta of 0.97.

Canadian Natural Resources (NYSE:CNQ) (TSE:CNQ) last announced its quarterly earnings data on Thursday, August 7th. The oil and gas producer reported $0.51 EPS for the quarter, beating analysts’ consensus estimates of $0.44 by $0.07. Canadian Natural Resources had a return on equity of 19.67% and a net margin of 19.00%.The firm had revenue of $6.39 billion during the quarter, compared to analysts’ expectations of $8.97 billion. During the same quarter last year, the firm posted $0.88 earnings per share. As a group, equities analysts anticipate that Canadian Natural Resources Limited will post 2.45 earnings per share for the current fiscal year.

Canadian Natural Resources Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, October 3rd. Investors of record on Friday, September 19th were given a dividend of $0.4269 per share. The ex-dividend date of this dividend was Friday, September 19th. This is a positive change from Canadian Natural Resources’s previous quarterly dividend of $0.42. This represents a $1.71 annualized dividend and a dividend yield of 5.5%. Canadian Natural Resources’s payout ratio is presently 60.64%.

About Canadian Natural Resources

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).