Marshall Financial Group LLC Takes Position in Canadian Natural Resources Limited $CNQ

Marshall Financial Group LLC purchased 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 SEC. The fund purchased 25,678 shares of the oil and gas producer’s stock, valued at approximately $869,000.

Other hedge funds also recently bought and sold shares of the company. Tacita Capital Inc increased its stake in Canadian Natural Resources by 6.1% during the 3rd quarter. Tacita Capital Inc now owns 5,753 shares of the oil and gas producer’s stock valued at $184,000 after purchasing an additional 330 shares in the last quarter. Frank Rimerman Advisors LLC raised its holdings in Canadian Natural Resources by 2.2% in the third quarter. Frank Rimerman Advisors LLC now owns 17,886 shares of the oil and gas producer’s stock worth $572,000 after buying an additional 390 shares during the last quarter. EverSource Wealth Advisors LLC lifted its stake in shares of Canadian Natural Resources by 9.4% in the third quarter. EverSource Wealth Advisors LLC now owns 4,939 shares of the oil and gas producer’s stock worth $158,000 after buying an additional 426 shares in the last quarter. Kingsview Wealth Management LLC grew its holdings in shares of Canadian Natural Resources by 5.7% during the second quarter. Kingsview Wealth Management LLC now owns 8,109 shares of the oil and gas producer’s stock valued at $255,000 after buying an additional 434 shares during the last quarter. Finally, United Capital Financial Advisors LLC grew its holdings in shares of Canadian Natural Resources by 5.0% during the third quarter. United Capital Financial Advisors LLC now owns 9,193 shares of the oil and gas producer’s stock valued at $294,000 after buying an additional 436 shares during the last quarter. Institutional investors own 74.03% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the stock. ATB Cormark Capital Markets downgraded shares of Canadian Natural Resources from a “strong-buy” rating to a “moderate buy” rating in a research report on Thursday, March 5th. The Goldman Sachs Group increased their target price on Canadian Natural Resources from $37.00 to $49.00 and gave the company a “buy” rating in a research note on Thursday, March 12th. Desjardins lowered Canadian Natural Resources from a “buy” rating to a “hold” rating in a report on Monday, November 24th. Wall Street Zen upgraded Canadian Natural Resources from a “sell” rating to a “hold” rating in a research note on Saturday, January 31st. Finally, Zacks Research downgraded Canadian Natural Resources from a “hold” rating to a “strong sell” rating in a report on Friday, March 6th. Six equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $57.00.

Canadian Natural Resources Stock Down 3.0%

CNQ opened at $49.05 on Monday. The stock has a market capitalization of $102.25 billion, a price-to-earnings ratio of 13.29 and a beta of 0.62. The firm has a 50 day moving average price of $40.96 and a 200-day moving average price of $35.36. Canadian Natural Resources Limited has a twelve month low of $24.65 and a twelve month high of $51.34. The company has a quick ratio of 0.63, a current ratio of 0.95 and a debt-to-equity ratio of 0.36.

Canadian Natural Resources (NYSE:CNQ) (TSE:CNQ) last issued its earnings results on Thursday, March 5th. The oil and gas producer reported $0.59 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.53 by $0.06. Canadian Natural Resources had a net margin of 24.48% and a return on equity of 17.84%. The company had revenue of $6.89 billion for the quarter, compared to analysts’ expectations of $6.64 billion. During the same quarter last year, the company posted $0.93 earnings per share. 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 company also recently declared a quarterly dividend, which will be paid on Tuesday, April 7th. Stockholders of record on Friday, March 20th will be paid a $0.625 dividend. This is an increase from Canadian Natural Resources’s previous quarterly dividend of $0.59. The ex-dividend date is Friday, March 20th. This represents a $2.50 dividend on an annualized basis and a dividend yield of 5.1%. Canadian Natural Resources’s dividend payout ratio (DPR) is 49.59%.

Canadian Natural Resources Company Profile

Canadian Natural Resources Limited (NYSE: CNQ) is a Calgary-based independent oil and natural gas exploration and production company. Established in the early 1970s and publicly listed in Canada and the United States, the company is principally engaged in the exploration, development, production, and marketing of crude oil, natural gas and natural gas liquids. Its asset base spans conventional and unconventional reservoirs and includes oil sands mining and in-situ thermal projects, midstream processing and upgrading capacity, and related field operations.

The company’s operations are concentrated in Western Canada, where it develops heavy crude, bitumen from oil sands and conventional light crude and natural gas resources.