Canadian Natural Resources Limited (NYSE:CNQ) Position Reduced by Rockingstone Advisors LLC

Rockingstone Advisors LLC trimmed its stake in shares of Canadian Natural Resources Limited (NYSE:CNQ) (TSE:CNQ) by 13.3% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 71,935 shares of the oil and gas producer’s stock after selling 10,996 shares during the quarter. Rockingstone Advisors LLC’s holdings in Canadian Natural Resources were worth $2,389,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in CNQ. Park Place Capital Corp boosted its stake in Canadian Natural Resources by 100.0% during the 2nd quarter. Park Place Capital Corp now owns 716 shares of the oil and gas producer’s stock valued at $25,000 after acquiring an additional 358 shares during the last quarter. RFP Financial Group LLC boosted its holdings in shares of Canadian Natural Resources by 98.3% in the 2nd quarter. RFP Financial Group LLC now owns 710 shares of the oil and gas producer’s stock valued at $25,000 after buying an additional 352 shares during the period. Sugarloaf Wealth Management LLC boosted its holdings in shares of Canadian Natural Resources by 100.0% in the 2nd quarter. Sugarloaf Wealth Management LLC now owns 728 shares of the oil and gas producer’s stock valued at $26,000 after buying an additional 364 shares during the period. Bruce G. Allen Investments LLC boosted its holdings in shares of Canadian Natural Resources by 91.6% in the 2nd quarter. Bruce G. Allen Investments LLC now owns 868 shares of the oil and gas producer’s stock valued at $31,000 after buying an additional 415 shares during the period. Finally, GAMMA Investing LLC boosted its holdings in shares of Canadian Natural Resources by 104.7% in the 2nd quarter. GAMMA Investing LLC now owns 874 shares of the oil and gas producer’s stock valued at $31,000 after buying an additional 447 shares during the period. 74.03% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

CNQ has been the subject of several research reports. Wolfe Research initiated coverage on shares of Canadian Natural Resources in a report on Thursday, July 18th. They issued a “peer perform” rating for the company. Scotiabank reaffirmed a “sector perform” rating on shares of Canadian Natural Resources in a report on Tuesday, June 11th. Desjardins raised shares of Canadian Natural Resources from a “hold” rating to a “moderate buy” rating in a report on Tuesday. Finally, StockNews.com downgraded shares of Canadian Natural Resources from a “buy” rating to a “hold” rating in a research report on Friday, August 23rd. Five research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat, Canadian Natural Resources presently has a consensus rating of “Hold” and a consensus target price of $49.50.

Canadian Natural Resources Trading Down 0.6 %

Shares of NYSE:CNQ opened at $36.36 on Wednesday. The company has a market cap of $77.37 billion, a PE ratio of 14.49 and a beta of 1.50. The company’s 50-day moving average price is $34.60 and its 200 day moving average price is $36.25. Canadian Natural Resources Limited has a fifty-two week low of $29.45 and a fifty-two week high of $41.29. The company has a quick ratio of 0.59, a current ratio of 0.88 and a debt-to-equity ratio of 0.24.

Canadian Natural Resources (NYSE:CNQ) (TSE:CNQ) last released its quarterly earnings results on Thursday, August 1st. The oil and gas producer reported $0.88 EPS for the quarter, topping analysts’ consensus estimates of $0.62 by $0.26. Canadian Natural Resources had a net margin of 18.05% and a return on equity of 22.09%. The company had revenue of $7.76 billion for the quarter, compared to the consensus estimate of $6.19 billion. During the same period in the previous year, the firm earned $0.43 EPS. Sell-side analysts anticipate that Canadian Natural Resources Limited will post 2.47 earnings per share for the current year.

Canadian Natural Resources Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, January 3rd. Shareholders of record on Friday, December 13th will be given a dividend of $0.388 per share. This represents a $1.55 dividend on an annualized basis and a dividend yield of 4.27%. This is an increase from Canadian Natural Resources’s previous quarterly dividend of $0.38. The ex-dividend date is Friday, December 13th. Canadian Natural Resources’s payout ratio is 61.75%.

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).