Merit Financial Group LLC Acquires Shares of 9,222 Canadian Natural Resources Limited (NYSE:CNQ)

Merit Financial Group LLC bought a new position in Canadian Natural Resources Limited (NYSE:CNQ) (TSE:CNQ) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 9,222 shares of the oil and gas producer’s stock, valued at approximately $285,000.

Other large investors have also modified their holdings of the company. Continuum Advisory LLC boosted its holdings in Canadian Natural Resources by 144.1% in the 3rd quarter. Continuum Advisory LLC now owns 830 shares of the oil and gas producer’s stock worth $28,000 after acquiring an additional 490 shares during the period. Coastline Trust Co acquired a new stake in Canadian Natural Resources during the 3rd quarter valued at $33,000. Wilmington Savings Fund Society FSB purchased a new stake in Canadian Natural Resources during the 3rd quarter worth $37,000. Sound Income Strategies LLC acquired a new position in Canadian Natural Resources in the 3rd quarter worth $46,000. Finally, First Horizon Advisors Inc. boosted its position in Canadian Natural Resources by 58.4% in the 3rd quarter. First Horizon Advisors Inc. now owns 1,432 shares of the oil and gas producer’s stock valued at $48,000 after buying an additional 528 shares during the last quarter. Institutional investors and hedge funds own 74.03% of the company’s stock.

Canadian Natural Resources Stock Performance

Shares of NYSE CNQ opened at $31.30 on Friday. Canadian Natural Resources Limited has a 12-month low of $29.23 and a 12-month high of $41.29. The company has a current ratio of 0.84, a quick ratio of 0.53 and a debt-to-equity ratio of 0.21. The company has a market cap of $65.82 billion, a PE ratio of 12.15 and a beta of 1.46. The stock has a 50 day simple moving average of $31.96 and a 200-day simple moving average of $33.85.

Canadian Natural Resources (NYSE:CNQ) (TSE:CNQ) last released its quarterly earnings results on Thursday, October 31st. The oil and gas producer reported $0.97 EPS for the quarter, topping analysts’ consensus estimates of $0.67 by $0.30. Canadian Natural Resources had a net margin of 18.45% and a return on equity of 20.07%. The company had revenue of $7.62 billion for the quarter, compared to the consensus estimate of $6.40 billion. During the same period in the previous year, the firm earned $0.96 EPS. On average, equities research analysts forecast that Canadian Natural Resources Limited will post 2.44 EPS for the current year.

Analysts Set New Price Targets

Separately, Desjardins raised Canadian Natural Resources from a “hold” rating to a “moderate buy” rating in a research report on Tuesday, October 8th. Four investment analysts have rated the stock with a hold rating, According to MarketBeat, the stock currently has a consensus rating of “Hold”.

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).