Baskin Financial Services Inc. trimmed its holdings in shares of Canadian Natural Resources Limited (NYSE:CNQ – Free Report) (TSE:CNQ) by 2.1% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 933,844 shares of the oil and gas producer’s stock after selling 19,796 shares during the period. Canadian Natural Resources comprises approximately 3.5% of Baskin Financial Services Inc.’s investment portfolio, making the stock its 12th largest holding. Baskin Financial Services Inc.’s holdings in Canadian Natural Resources were worth $43,889,000 as of its most recent SEC filing.
A number of other hedge funds also recently made changes to their positions in CNQ. Trust Co. of Vermont purchased a new position in shares of Canadian Natural Resources in the 2nd quarter worth about $26,000. CX Institutional bought a new stake in Canadian Natural Resources in the second quarter worth about $28,000. Axiom Investment Management LLC purchased a new position in Canadian Natural Resources in the first quarter valued at about $29,000. Byrne Asset Management LLC purchased a new position in Canadian Natural Resources in the third quarter valued at about $30,000. Finally, Continuum Advisory LLC purchased a new position in Canadian Natural Resources in the second quarter valued at about $43,000. 74.03% of the stock is currently owned by institutional investors.
Analysts Set New Price Targets
A number of research firms have recently weighed in on CNQ. 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. Canadian Imperial Bank of Commerce reaffirmed an “outperform” rating on shares of Canadian Natural Resources in a report on Friday, October 9th. Scotiabank reiterated a “sector perform” rating on shares of Canadian Natural Resources in a research note on Friday, August 7th. Wall Street Zen raised Canadian Natural Resources from a “hold” rating to a “buy” rating in a report on Saturday, August 15th. Finally, Desjardins raised Canadian Natural Resources to a “hold” rating in a research report on Thursday, July 16th. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $57.00.
Check Out Our Latest Report on Canadian Natural Resources
Canadian Natural Resources Stock Performance
NYSE:CNQ traded up $0.35 on Monday, reaching $54.15. 2,110,877 shares of the company’s stock were exchanged, compared to its average volume of 9,005,927. The firm has a market cap of $111.28 billion, a price-to-earnings ratio of 13.36 and a beta of 0.53. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.00 and a quick ratio of 0.75. The stock has a fifty day simple moving average of $49.58 and a 200-day simple moving average of $46.59. Canadian Natural Resources Limited has a 52 week low of $29.68 and a 52 week high of $54.19.
Canadian Natural Resources (NYSE:CNQ – Get Free Report) (TSE:CNQ) last posted its quarterly earnings results on Thursday, August 6th. The oil and gas producer reported $1.58 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.43 by $0.15. The company had revenue of $14.74 billion for the quarter, compared to analyst estimates of $9.40 billion. Canadian Natural Resources had a net margin of 22.78% and a return on equity of 23.91%. As a group, sell-side analysts predict that Canadian Natural Resources Limited will post 4.10 earnings per share for the current year.
Canadian Natural Resources Dividend Announcement
The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 2nd. Investors of record on Friday, September 11th were paid a C$0.62 dividend. This represents a $2.50 dividend on an annualized basis and a yield of 4.6%. The ex-dividend date was Friday, September 11th. Canadian Natural Resources’s 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 Articles
- Five stocks we like better than Canadian Natural Resources
- Alcoa Beat Earnings, But Can It Escape the Aluminum Bears?
- Insider Buying Is Rising at These 3 Regional Banks, But the Details Matter
- Illinois Tool Works Faces Headwinds—2 Alternatives Stand Out
- Luxury’s Middle Market Is Cracking—These 3 Stocks Could Win
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.
