Canadian Natural Resources Limited $CNQ Stock Holdings Lessened by Peak Financial Advisors LLC

Peak Financial Advisors LLC lessened its stake in Canadian Natural Resources Limited (NYSE:CNQ) (TSE:CNQ) by 18.0% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 73,057 shares of the oil and gas producer’s stock after selling 16,068 shares during the quarter. Canadian Natural Resources makes up 1.5% of Peak Financial Advisors LLC’s holdings, making the stock its 19th biggest position. Peak Financial Advisors LLC’s holdings in Canadian Natural Resources were worth $3,439,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in CNQ. Healthcare of Ontario Pension Plan Trust Fund grew its stake in shares of Canadian Natural Resources by 10.0% in the first quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 37,457,500 shares of the oil and gas producer’s stock valued at $1,826,578,000 after buying an additional 3,397,500 shares in the last quarter. Arrowstreet Capital Limited Partnership acquired a new position in Canadian Natural Resources during the first quarter worth $1,411,619,000. TD Waterhouse Canada Inc. raised its position in Canadian Natural Resources by 1.4% during the third quarter. TD Waterhouse Canada Inc. now owns 16,459,772 shares of the oil and gas producer’s stock worth $784,278,000 after acquiring an additional 223,444 shares in the last quarter. Amundi raised its position in Canadian Natural Resources by 3.1% during the second quarter. Amundi now owns 8,238,632 shares of the oil and gas producer’s stock worth $325,426,000 after acquiring an additional 244,205 shares in the last quarter. Finally, Swiss National Bank raised its position in Canadian Natural Resources by 26.7% during the first quarter. Swiss National Bank now owns 7,011,862 shares of the oil and gas producer’s stock worth $341,546,000 after acquiring an additional 1,475,500 shares in the last quarter. 74.03% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

CNQ has been the subject of a number of recent analyst reports. Canadian Imperial Bank of Commerce reiterated an “outperform” rating on shares of Canadian Natural Resources in a research note on Friday, October 9th. Weiss Ratings upgraded shares of Canadian Natural Resources from a “buy (b)” rating to a “buy (b+)” rating in a research note on Thursday, October 8th. Raymond James Financial cut shares of Canadian Natural Resources from an “outperform” rating to a “market perform” rating in a report on Wednesday, October 14th. TD Securities reaffirmed a “buy” rating on shares of Canadian Natural Resources in a report on Friday, August 7th. Finally, Desjardins upgraded shares of Canadian Natural Resources to a “hold” rating in a research note on Thursday, July 16th. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $57.00.

Canadian Natural Resources Stock Performance

Shares of NYSE CNQ opened at $56.20 on Friday. The company has a current ratio of 1.00, a quick ratio of 0.75 and a debt-to-equity ratio of 0.32. Canadian Natural Resources Limited has a 12 month low of $30.13 and a 12 month high of $56.27. The stock has a 50 day moving average of $50.76 and a 200-day moving average of $45.85. The company has a market capitalization of $115.49 billion, a P/E ratio of 13.88 and a beta of 0.53.

Canadian Natural Resources (NYSE:CNQ) (TSE:CNQ) last posted its quarterly earnings results on Thursday, August 6th. The oil and gas producer reported $1.58 earnings per share for the quarter, beating analysts’ consensus estimates of $1.43 by $0.15. Canadian Natural Resources had a return on equity of 23.91% and a net margin of 22.78%. The business had revenue of $14.74 billion for the quarter, compared to analysts’ expectations of $9.40 billion. As a group, equities research analysts predict that Canadian Natural Resources Limited will post 4.10 EPS for the current year.

Canadian Natural Resources Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 2nd. Shareholders of record on Friday, September 11th were given a dividend of C$0.62 per share. This represents a $2.50 dividend on an annualized basis and a yield of 4.4%. The ex-dividend date of this dividend was Friday, September 11th. Canadian Natural Resources’s payout ratio is 44.44%.

About Canadian Natural Resources

Canadian Natural Resources Limited is an independent energy company engaged in the exploration, development, production, marketing and sale of crude oil, natural gas and natural gas liquids. Its portfolio includes conventional and unconventional petroleum assets, heavy crude oil operations, and oil sands projects that produce bitumen and synthetic crude oil.

The company’s principal operations are located in Western Canada, including oil sands and conventional assets in Alberta and natural gas properties in Alberta and British Columbia.