Joel Isaacson & Co. LLC Reduces Holdings in Canadian Natural Resources Limited $CNQ

Joel Isaacson & Co. LLC lowered its position in shares of Canadian Natural Resources Limited (NYSE:CNQ) (TSE:CNQ) by 5.2% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 29,050 shares of the oil and gas producer’s stock after selling 1,590 shares during the period. Joel Isaacson & Co. LLC’s holdings in Canadian Natural Resources were worth $912,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Ameritas Advisory Services LLC purchased a new stake in shares of Canadian Natural Resources during the second quarter valued at approximately $27,000. Investment Management Corp VA ADV raised its stake in shares of Canadian Natural Resources by 158.3% during the first quarter. Investment Management Corp VA ADV now owns 997 shares of the oil and gas producer’s stock valued at $31,000 after purchasing an additional 611 shares during the period. Sierra Ocean LLC grew its position in shares of Canadian Natural Resources by 104.0% during the first quarter. Sierra Ocean LLC now owns 1,569 shares of the oil and gas producer’s stock worth $48,000 after buying an additional 800 shares in the last quarter. Geneos Wealth Management Inc. grew its position in shares of Canadian Natural Resources by 47.3% during the first quarter. Geneos Wealth Management Inc. now owns 1,644 shares of the oil and gas producer’s stock worth $51,000 after buying an additional 528 shares in the last quarter. Finally, Adirondack Trust Co. grew its position in shares of Canadian Natural Resources by 317.1% during the second quarter. Adirondack Trust Co. now owns 1,710 shares of the oil and gas producer’s stock worth $54,000 after buying an additional 1,300 shares in the last quarter. Hedge funds and other institutional investors own 74.03% of the company’s stock.

Canadian Natural Resources Stock Performance

Canadian Natural Resources stock opened at $32.76 on Wednesday. The company has a market cap of $68.37 billion, a PE ratio of 11.62 and a beta of 0.97. The company has a fifty day moving average price of $31.29 and a two-hundred day moving average price of $30.83. The company has a debt-to-equity ratio of 0.38, a current ratio of 0.85 and a quick ratio of 0.54. Canadian Natural Resources Limited has a 12 month low of $24.65 and a 12 month high of $37.91.

Canadian Natural Resources (NYSE:CNQ) (TSE:CNQ) last released its quarterly earnings data on Thursday, August 7th. The oil and gas producer reported $0.51 EPS for the quarter, topping analysts’ consensus estimates of $0.44 by $0.07. The firm had revenue of $6.39 billion during the quarter, compared to the consensus estimate of $8.97 billion. Canadian Natural Resources had a net margin of 19.00% and a return on equity of 19.67%. During the same quarter in the previous year, the company posted $0.88 earnings per share. Research analysts expect that Canadian Natural Resources Limited will post 2.45 earnings per share for the current year.

Canadian Natural Resources Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, October 3rd. Shareholders of record on Friday, September 19th were paid a $0.4269 dividend. The ex-dividend date was Friday, September 19th. This is a positive change from Canadian Natural Resources’s previous quarterly dividend of $0.42. This represents a $1.71 dividend on an annualized basis and a yield of 5.2%. Canadian Natural Resources’s dividend payout ratio (DPR) is 60.64%.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on CNQ. Scotiabank reissued an “outperform” rating on shares of Canadian Natural Resources in a research report on Friday, July 11th. TD Securities reissued a “buy” rating on shares of Canadian Natural Resources in a research report on Tuesday, September 30th. Royal Bank Of Canada reissued an “outperform” rating and set a $62.00 price target on shares of Canadian Natural Resources in a research report on Wednesday, September 24th. National Bankshares reissued a “sector perform” rating on shares of Canadian Natural Resources in a research report on Thursday, July 17th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Canadian Natural Resources in a research report on Saturday, September 27th. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $62.00.

Canadian Natural Resources Profile

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).