Solstein Capital LLC Has $2.53 Million Stock Position in Canadian Natural Resources Limited $CNQ

Solstein Capital LLC grew its position in shares of Canadian Natural Resources Limited (NYSE:CNQFree Report) (TSE:CNQ) by 33.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 74,660 shares of the oil and gas producer’s stock after acquiring an additional 18,896 shares during the quarter. Canadian Natural Resources accounts for 1.0% of Solstein Capital LLC’s holdings, making the stock its 24th biggest position. Solstein Capital LLC’s holdings in Canadian Natural Resources were worth $2,531,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Manchester Capital Management LLC acquired a new position in Canadian Natural Resources during the 4th quarter worth approximately $28,000. Leonteq Securities AG acquired a new position in Canadian Natural Resources during the 4th quarter worth approximately $31,000. GoalVest Advisory LLC acquired a new position in Canadian Natural Resources during the 4th quarter worth approximately $32,000. Quarry LP acquired a new position in Canadian Natural Resources during the 3rd quarter worth approximately $32,000. Finally, LOM Asset Management Ltd acquired a new position in Canadian Natural Resources during the 4th quarter worth approximately $34,000. Institutional investors and hedge funds own 74.03% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have weighed in on CNQ. Zacks Research downgraded Canadian Natural Resources from a “strong-buy” rating to a “hold” rating in a research report on Monday, June 8th. Raymond James Financial raised Canadian Natural Resources from a “market perform” rating to an “outperform” rating in a research report on Thursday, May 7th. The Goldman Sachs Group upped their price target on Canadian Natural Resources from $37.00 to $49.00 and gave the stock a “buy” rating in a research report on Thursday, March 12th. Weiss Ratings downgraded Canadian Natural Resources from a “buy (b)” rating to a “buy (b-)” rating in a research report on Monday, May 11th. Finally, ATB Cormark Capital Markets downgraded Canadian Natural Resources from a “strong-buy” rating to a “moderate buy” rating in a research report on Thursday, March 5th. Seven investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat.com, Canadian Natural Resources currently has an average rating of “Moderate Buy” and an average target price of $57.00.

View Our Latest Report on CNQ

Canadian Natural Resources Trading Down 0.3%

Shares of Canadian Natural Resources stock opened at $45.32 on Friday. Canadian Natural Resources Limited has a 12-month low of $29.30 and a 12-month high of $51.34. The stock has a market cap of $94.33 billion, a P/E ratio of 13.53 and a beta of 0.45. The company has a quick ratio of 0.68, a current ratio of 0.98 and a debt-to-equity ratio of 0.37. The business’s 50 day moving average is $46.46 and its 200-day moving average is $41.37.

Canadian Natural Resources (NYSE:CNQGet Free Report) (TSE:CNQ) last announced its quarterly earnings data on Thursday, May 7th. The oil and gas producer reported $0.85 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.74 by $0.11. Canadian Natural Resources had a return on equity of 17.49% and a net margin of 22.04%.The company had revenue of $7.72 billion for the quarter, compared to analysts’ expectations of $7.57 billion. During the same quarter in the prior year, the business posted $1.16 EPS. Equities research analysts predict that Canadian Natural Resources Limited will post 4.2 earnings per share for the current fiscal year.

Canadian Natural Resources Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 7th. Stockholders of record on Tuesday, June 23rd will be paid a dividend of $0.625 per share. The ex-dividend date is Tuesday, June 23rd. This represents a $2.50 dividend on an annualized basis and a dividend yield of 5.5%. Canadian Natural Resources’s dividend payout ratio is currently 54.63%.

Canadian Natural Resources Profile

(Free Report)

Canadian Natural Resources Limited (NYSE: CNQ) is a Calgary-based independent oil and natural gas exploration and production company. Established in the early 1970s and publicly listed in Canada and the United States, the company is principally engaged in the exploration, development, production, and marketing of crude oil, natural gas and natural gas liquids. Its asset base spans conventional and unconventional reservoirs and includes oil sands mining and in-situ thermal projects, midstream processing and upgrading capacity, and related field operations.

The company’s operations are concentrated in Western Canada, where it develops heavy crude, bitumen from oil sands and conventional light crude and natural gas resources.

Further Reading

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Institutional Ownership by Quarter for Canadian Natural Resources (NYSE:CNQ)

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