Lifetime Wealth Management P.C. decreased its holdings in Canadian Natural Resources Limited (NYSE:CNQ – Free Report) (TSE:CNQ) by 5.8% during the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 172,311 shares of the oil and gas producer’s stock after selling 10,655 shares during the period. Canadian Natural Resources makes up about 4.9% of Lifetime Wealth Management P.C.’s investment portfolio, making the stock its 4th largest position. Lifetime Wealth Management P.C.’s holdings in Canadian Natural Resources were worth $8,111,000 as of its most recent SEC filing.
Several other hedge funds have also recently bought and sold shares of CNQ. Financial Management Professionals Inc. lifted its position in Canadian Natural Resources by 280.7% during the third quarter. Financial Management Professionals Inc. now owns 552 shares of the oil and gas producer’s stock valued at $26,000 after buying an additional 407 shares in the last quarter. Axiom Investment Management LLC purchased a new stake in Canadian Natural Resources during the first quarter worth approximately $29,000. Byrne Asset Management LLC purchased a new stake in Canadian Natural Resources during the third quarter worth approximately $30,000. Trust Co. of Vermont acquired a new stake in shares of Canadian Natural Resources in the second quarter worth $26,000. Finally, CX Institutional acquired a new stake in shares of Canadian Natural Resources in the second quarter worth $28,000. Hedge funds and other institutional investors own 74.03% of the company’s stock.
Analysts Set New Price Targets
A number of brokerages have recently commented on CNQ. Canadian Imperial Bank of Commerce reissued an “outperform” rating on shares of Canadian Natural Resources in a research note on Friday, October 9th. Scotiabank restated a “sector perform” rating on shares of Canadian Natural Resources in a report on Monday, October 19th. Weiss Ratings raised shares of Canadian Natural Resources from a “buy (b)” rating to a “buy (b+)” rating in a research report on Thursday, October 8th. Zacks Research upgraded Canadian Natural Resources from a “hold” rating to a “strong-buy” rating in a report on Monday, October 5th. Finally, TD Securities reiterated a “buy” rating on shares of Canadian Natural Resources in a report on Friday, August 7th. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $57.00.
View Our Latest Stock Analysis on CNQ
Canadian Natural Resources Stock Performance
Shares of NYSE:CNQ opened at $56.20 on Monday. The company has a market cap of $115.49 billion, a P/E ratio of 13.88 and a beta of 0.45. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.75 and a current ratio of 1.00. Canadian Natural Resources Limited has a one year low of $30.13 and a one year high of $56.27. The business’s 50-day simple moving average is $50.76 and its 200 day simple moving average is $45.85.
Canadian Natural Resources (NYSE:CNQ – Get Free Report) (TSE:CNQ) last released its quarterly earnings results on Thursday, August 6th. The oil and gas producer reported $1.58 EPS for the quarter, topping the consensus estimate of $1.43 by $0.15. The firm had revenue of $14.74 billion for the quarter, compared to analyst estimates of $9.40 billion. Canadian Natural Resources had a return on equity of 23.91% and a net margin of 22.78%. On average, sell-side analysts forecast that Canadian Natural Resources Limited will post 4.10 earnings per share for the current fiscal year.
Canadian Natural Resources Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Friday, October 2nd. Investors of record on Friday, September 11th were issued a C$0.62 dividend. The ex-dividend date of this dividend was Friday, September 11th. This represents a $2.50 annualized dividend and a yield of 4.4%. Canadian Natural Resources’s dividend payout ratio is currently 44.44%.
Canadian Natural Resources Company Profile
Canadian Natural Resources Limited is an independent energy company engaged in the exploration, development, production, marketing and sale of crude oil, natural gas and natural gas liquids. Its portfolio includes conventional and unconventional petroleum assets, heavy crude oil operations, and oil sands projects that produce bitumen and synthetic crude oil.
The company’s principal operations are located in Western Canada, including oil sands and conventional assets in Alberta and natural gas properties in Alberta and British Columbia.
Featured Stories
- Five stocks we like better than Canadian Natural Resources
- Marvell Eyes a Swing for the AI Networking Fences as Markets Weigh Lumentum Price Tag
- Exxon’s Refining Profits Soared—Did Chevron Get the Same Windfall?
- Eli Lilly’s First Full Medicare Quarter: Is Volume Still Outrunning Price Cuts?
- Oracle’s AI Spending Peak Is in Sight—Can the Stock Recover?
Want to see what other hedge funds are holding CNQ? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Canadian Natural Resources Limited (NYSE:CNQ – Free Report) (TSE:CNQ).
Receive News & Ratings for Canadian Natural Resources Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Canadian Natural Resources and related companies with MarketBeat.com's FREE daily email newsletter.
