Peterson Wealth Services Grows Stock Position in Canadian Natural Resources Limited $CNQ

Peterson Wealth Services raised its holdings in shares of Canadian Natural Resources Limited (NYSE:CNQ) (TSE:CNQ) by 2.8% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 185,794 shares of the oil and gas producer’s stock after acquiring an additional 5,079 shares during the quarter. Canadian Natural Resources makes up 1.6% of Peterson Wealth Services’ investment portfolio, making the stock its 17th largest position. Peterson Wealth Services’ holdings in Canadian Natural Resources were worth $5,834,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of the business. Caitong International Asset Management Co. Ltd raised its position in shares of Canadian Natural Resources by 467.2% during the 2nd quarter. Caitong International Asset Management Co. Ltd now owns 4,078 shares of the oil and gas producer’s stock worth $128,000 after purchasing an additional 3,359 shares during the last quarter. Carnegie Investment Counsel increased its position in Canadian Natural Resources by 0.7% during the second quarter. Carnegie Investment Counsel now owns 71,589 shares of the oil and gas producer’s stock worth $2,248,000 after buying an additional 532 shares in the last quarter. Bleakley Financial Group LLC raised its holdings in shares of Canadian Natural Resources by 26.5% in the second quarter. Bleakley Financial Group LLC now owns 40,432 shares of the oil and gas producer’s stock worth $1,270,000 after acquiring an additional 8,465 shares during the last quarter. Adams Natural Resources Fund Inc. purchased a new stake in shares of Canadian Natural Resources in the second quarter valued at $3,046,000. Finally, Pacific Heights Asset Management LLC boosted its stake in shares of Canadian Natural Resources by 11.1% during the second quarter. Pacific Heights Asset Management LLC now owns 500,000 shares of the oil and gas producer’s stock valued at $15,700,000 after acquiring an additional 50,000 shares during the last quarter. Hedge funds and other institutional investors own 74.03% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on CNQ shares. Royal Bank Of Canada restated an “outperform” rating and issued a $62.00 target price on shares of Canadian Natural Resources in a report on Wednesday, September 24th. Weiss Ratings restated a “hold (c)” rating on shares of Canadian Natural Resources in a research report on Friday. TD Securities reiterated a “buy” rating on shares of Canadian Natural Resources in a report on Tuesday, September 30th. Raymond James Financial restated an “outperform” rating on shares of Canadian Natural Resources in a report on Friday, August 8th. Finally, Scotiabank reiterated an “outperform” rating on shares of Canadian Natural Resources in a research note on Thursday, October 9th. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat, Canadian Natural Resources currently has an average rating of “Moderate Buy” and a consensus target price of $62.00.

Canadian Natural Resources Trading Up 0.1%

Shares of CNQ opened at $31.28 on Friday. Canadian Natural Resources Limited has a twelve month low of $24.65 and a twelve month high of $35.63. The firm has a market capitalization of $65.29 billion, a P/E ratio of 11.09 and a beta of 0.97. The company has a current ratio of 0.85, a quick ratio of 0.54 and a debt-to-equity ratio of 0.38. The stock’s fifty day simple moving average is $31.39 and its 200 day simple moving average is $30.93.

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

Canadian Natural Resources Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 3rd. Shareholders of record on Friday, September 19th were paid a dividend of $0.4269 per share. This is an increase from Canadian Natural Resources’s previous quarterly dividend of $0.42. This represents a $1.71 annualized dividend and a yield of 5.5%. The ex-dividend date was Friday, September 19th. Canadian Natural Resources’s payout ratio is presently 60.64%.

Canadian Natural Resources Company 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).