Maryland State Retirement & Pension System cut its position in Canadian Natural Resources Limited (NYSE:CNQ – Free Report) (TSE:CNQ) by 3.1% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 482,577 shares of the oil and gas producer’s stock after selling 15,398 shares during the period. Maryland State Retirement & Pension System’s holdings in Canadian Natural Resources were worth $22,691,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds and other institutional investors have also modified their holdings of CNQ. Brighton Jones LLC lifted its holdings in Canadian Natural Resources by 4.6% during the 3rd quarter. Brighton Jones LLC now owns 11,219 shares of the oil and gas producer’s stock worth $528,000 after buying an additional 489 shares during the last quarter. Point Nemo Capital LLC increased its holdings in shares of Canadian Natural Resources by 17,154.8% in the 3rd quarter. Point Nemo Capital LLC now owns 28,988 shares of the oil and gas producer’s stock valued at $1,364,000 after acquiring an additional 28,820 shares during the last quarter. Ethic Inc. purchased a new position in shares of Canadian Natural Resources in the 3rd quarter valued at about $262,000. Verus Capital Partners LLC increased its holdings in shares of Canadian Natural Resources by 5.4% in the 3rd quarter. Verus Capital Partners LLC now owns 9,727 shares of the oil and gas producer’s stock valued at $458,000 after acquiring an additional 500 shares during the last quarter. Finally, Parallel Advisors LLC raised its position in shares of Canadian Natural Resources by 13.1% during the 3rd quarter. Parallel Advisors LLC now owns 8,441 shares of the oil and gas producer’s stock worth $397,000 after acquiring an additional 977 shares in the last quarter. 74.03% of the stock is currently owned by institutional investors and hedge funds.
Analyst Ratings Changes
Several equities research analysts recently weighed in on the company. Weiss Ratings upgraded Canadian Natural Resources from a “buy (b)” rating to a “buy (b+)” rating in a research note on Thursday, October 8th. Zacks Research upgraded shares of Canadian Natural Resources from a “hold” rating to a “strong-buy” rating in a research note on Monday, October 5th. Raymond James Financial cut shares of Canadian Natural Resources from an “outperform” rating to a “market perform” rating in a report on Wednesday, October 14th. Desjardins upgraded shares of Canadian Natural Resources to a “hold” rating in a research report on Thursday, July 16th. Finally, Wall Street Zen cut shares of Canadian Natural Resources from a “buy” rating to a “hold” rating in a report on Saturday, November 7th. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat.com, Canadian Natural Resources has a consensus rating of “Moderate Buy” and a consensus price target of $57.00.
Check Out Our Latest Analysis on Canadian Natural Resources
Canadian Natural Resources Stock Performance
NYSE CNQ opened at $48.93 on Thursday. The company has a fifty day moving average of $50.70 and a two-hundred day moving average of $46.46. The company has a market capitalization of $100.13 billion, a PE ratio of 10.03 and a beta of 0.45. Canadian Natural Resources Limited has a 1 year low of $30.13 and a 1 year high of $56.27. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.99 and a quick ratio of 0.78.
Canadian Natural Resources (NYSE:CNQ – Get Free Report) (TSE:CNQ) last posted its earnings results on Thursday, November 5th. The oil and gas producer reported $1.18 EPS for the quarter, topping analysts’ consensus estimates of $1.05 by $0.13. Canadian Natural Resources had a return on equity of 26.62% and a net margin of 25.24%. The business had revenue of $8.74 billion for the quarter, compared to analysts’ expectations of $8.79 billion. As a group, analysts expect that Canadian Natural Resources Limited will post 4.58 earnings per share for the current year.
Canadian Natural Resources Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Tuesday, January 5th. Investors of record on Tuesday, December 15th will be given a C$0.62 dividend. The ex-dividend date of this dividend is Tuesday, December 15th. This represents a $2.50 dividend on an annualized basis and a dividend yield of 5.1%. Canadian Natural Resources’s dividend payout ratio is 36.48%.
Canadian Natural Resources Company Profile
Canadian Natural Resources Limited is an independent energy company engaged in the exploration, development, production and marketing of crude oil, natural gas and natural gas liquids. Its operations span several resource types and production methods, including oil sands mining and upgrading, thermal in situ projects, conventional oil and gas production, and offshore assets. The company’s principal operating areas are in Western Canada, the United Kingdom’s North Sea and offshore Africa. Its products include light and heavy crude oil, bitumen, synthetic crude oil, natural gas and natural gas liquids.
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