Gateway Advisory LLC trimmed its position in Canadian Natural Resources Limited (NYSE:CNQ – Free Report) (TSE:CNQ) by 46.2% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 4,810 shares of the oil and gas producer’s stock after selling 4,134 shares during the quarter. Gateway Advisory LLC’s holdings in Canadian Natural Resources were worth $271,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Cambridge Investment Research Advisors Inc. lifted its holdings in Canadian Natural Resources by 30.3% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 13,128 shares of the oil and gas producer’s stock valued at $814,000 after buying an additional 3,055 shares during the period. Private Advisor Group LLC acquired a new position in shares of Canadian Natural Resources in the 1st quarter valued at $403,000. PNC Financial Services Group Inc. grew its stake in shares of Canadian Natural Resources by 26.0% during the first quarter. PNC Financial Services Group Inc. now owns 16,727 shares of the oil and gas producer’s stock worth $1,036,000 after purchasing an additional 3,448 shares during the period. BlackRock Inc. grew its stake in shares of Canadian Natural Resources by 31.5% during the first quarter. BlackRock Inc. now owns 896,093 shares of the oil and gas producer’s stock worth $55,540,000 after purchasing an additional 214,665 shares during the period. Finally, Raymond James Trust N.A. increased its holdings in Canadian Natural Resources by 2.3% in the first quarter. Raymond James Trust N.A. now owns 8,432 shares of the oil and gas producer’s stock valued at $523,000 after purchasing an additional 191 shares during the last quarter. 73.88% of the stock is owned by institutional investors.
Analyst Upgrades and Downgrades
CNQ has been the subject of several analyst reports. National Bank Financial lowered Canadian Natural Resources from an “outperform” rating to a “sector perform” rating in a research report on Friday, August 4th. StockNews.com started coverage on shares of Canadian Natural Resources in a research note on Thursday, October 5th. They issued a “hold” rating for the company. Wells Fargo & Company lifted their price target on shares of Canadian Natural Resources from $80.00 to $85.00 and gave the stock an “equal weight” rating in a research report on Friday, August 4th. Jefferies Financial Group upped their price objective on shares of Canadian Natural Resources from $84.00 to $94.00 and gave the company a “hold” rating in a research report on Monday, August 28th. Finally, CIBC lifted their target price on Canadian Natural Resources from $90.00 to $93.00 and gave the stock an “outperformer” rating in a report on Tuesday, August 29th. Four investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $90.63.
Canadian Natural Resources Stock Up 4.1 %
Shares of CNQ traded up $2.65 during midday trading on Friday, hitting $66.58. The stock had a trading volume of 3,899,149 shares, compared to its average volume of 2,307,015. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.91 and a quick ratio of 0.65. The firm has a market cap of $72.13 billion, a price-to-earnings ratio of 13.96 and a beta of 1.52. The company has a 50 day simple moving average of $64.51 and a two-hundred day simple moving average of $60.37. Canadian Natural Resources Limited has a twelve month low of $48.81 and a twelve month high of $68.30.
Canadian Natural Resources Increases Dividend
The company also recently announced a quarterly dividend, which will be paid on Friday, January 5th. Shareholders of record on Friday, December 8th will be paid a $0.7203 dividend. This is a boost from Canadian Natural Resources’s previous quarterly dividend of $0.67. The ex-dividend date is Thursday, December 7th. This represents a $2.88 annualized dividend and a yield of 4.33%. Canadian Natural Resources’s payout ratio is presently 55.97%.
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).
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