Canadian Natural Resources Limited $CNQ Position Lessened by Cumberland Partners Ltd

Cumberland Partners Ltd lowered its position in Canadian Natural Resources Limited (NYSE:CNQ) (TSE:CNQ) by 4.5% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 152,947 shares of the oil and gas producer’s stock after selling 7,203 shares during the quarter. Cumberland Partners Ltd’s holdings in Canadian Natural Resources were worth $4,802,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Ameritas Advisory Services LLC bought a new position in Canadian Natural Resources during the second quarter valued at approximately $27,000. Addison Advisors LLC increased its stake in shares of Canadian Natural Resources by 309.1% during the 2nd quarter. Addison Advisors LLC now owns 896 shares of the oil and gas producer’s stock worth $28,000 after purchasing an additional 677 shares during the last quarter. Investment Management Corp VA ADV raised its holdings in shares of Canadian Natural Resources by 158.3% during the 1st 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 in the last quarter. Geneos Wealth Management Inc. lifted its stake in shares of Canadian Natural Resources by 47.3% in the 1st quarter. Geneos Wealth Management Inc. now owns 1,644 shares of the oil and gas producer’s stock valued at $51,000 after purchasing an additional 528 shares during the last quarter. Finally, Adirondack Trust Co. boosted its holdings in Canadian Natural Resources by 317.1% in the second quarter. Adirondack Trust Co. now owns 1,710 shares of the oil and gas producer’s stock worth $54,000 after purchasing an additional 1,300 shares in the last quarter. 74.03% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts have weighed in on CNQ shares. Weiss Ratings restated a “hold (c)” rating on shares of Canadian Natural Resources in a report on Wednesday, October 8th. Zacks Research upgraded Canadian Natural Resources from a “hold” rating to a “strong-buy” rating in a report on Tuesday, August 26th. Royal Bank Of Canada reiterated an “outperform” rating and set a $62.00 price target on shares of Canadian Natural Resources in a report on Wednesday, September 24th. Raymond James Financial reissued an “outperform” rating on shares of Canadian Natural Resources in a research report on Friday, August 8th. Finally, Wells Fargo & Company raised shares of Canadian Natural Resources to a “hold” rating in a report on Thursday, October 16th. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $62.00.

Canadian Natural Resources Trading Down 0.1%

Shares of Canadian Natural Resources stock opened at $34.01 on Thursday. Canadian Natural Resources Limited has a 1 year low of $24.65 and a 1 year high of $34.97. The company’s fifty day simple moving average is $31.92 and its 200-day simple moving average is $31.47. The company has a market cap of $70.86 billion, a price-to-earnings ratio of 12.06 and a beta of 0.96. The company has a current ratio of 0.85, a quick ratio of 0.54 and a debt-to-equity ratio of 0.38.

Canadian Natural Resources (NYSE:CNQ) (TSE:CNQ) last issued its quarterly earnings results on Thursday, November 6th. The oil and gas producer reported $0.62 earnings per share for the quarter, beating analysts’ consensus estimates of $0.54 by $0.08. The firm had revenue of $6.79 billion during the quarter, compared to the consensus estimate of $6.81 billion. Canadian Natural Resources had a net margin of 19.00% and a return on equity of 19.67%. During the same period in the prior year, the firm earned $0.97 EPS. As a group, sell-side analysts expect that Canadian Natural Resources Limited will post 2.45 EPS for the current year.

Canadian Natural Resources Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, January 6th. Investors of record on Friday, December 12th will be paid a dividend of $0.5875 per share. This is a positive change from Canadian Natural Resources’s previous quarterly dividend of $0.43. This represents a $2.35 annualized dividend and a yield of 6.9%. The ex-dividend date is Friday, December 12th. Canadian Natural Resources’s dividend payout ratio is presently 73.89%.

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).