PDS Planning Inc Boosts Stock Position in Canadian Natural Resources Limited $CNQ

PDS Planning Inc raised its stake in Canadian Natural Resources Limited (NYSE:CNQ) (TSE:CNQ) by 5.1% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 10,798 shares of the oil and gas producer’s stock after purchasing an additional 520 shares during the period. PDS Planning Inc’s holdings in Canadian Natural Resources were worth $339,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Brandywine Global Investment Management LLC grew its stake in Canadian Natural Resources by 27.5% in the first quarter. Brandywine Global Investment Management LLC now owns 2,183,598 shares of the oil and gas producer’s stock valued at $67,201,000 after purchasing an additional 470,391 shares during the last quarter. Sei Investments Co. boosted its holdings in Canadian Natural Resources by 41.9% in the first quarter. Sei Investments Co. now owns 49,307 shares of the oil and gas producer’s stock worth $1,519,000 after acquiring an additional 14,561 shares in the last quarter. Addenda Capital Inc. boosted its holdings in Canadian Natural Resources by 11.0% in the second quarter. Addenda Capital Inc. now owns 2,370,885 shares of the oil and gas producer’s stock worth $74,446,000 after acquiring an additional 235,198 shares in the last quarter. Baird Financial Group Inc. boosted its holdings in Canadian Natural Resources by 594.8% in the first quarter. Baird Financial Group Inc. now owns 133,501 shares of the oil and gas producer’s stock worth $4,112,000 after acquiring an additional 114,287 shares in the last quarter. Finally, Graybill Wealth Management LTD. acquired a new stake in Canadian Natural Resources in the first quarter worth about $3,697,000. Hedge funds and other institutional investors own 74.03% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on CNQ shares. Scotiabank reissued an “outperform” rating on shares of Canadian Natural Resources in a report on Thursday. National Bankshares reissued a “sector perform” rating on shares of Canadian Natural Resources in a report on Thursday, July 17th. Zacks Research raised Canadian Natural Resources from a “hold” rating to a “strong-buy” rating in a report on Tuesday, August 26th. TD Securities reissued a “buy” rating on shares of Canadian Natural Resources in a report on Tuesday, September 30th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Canadian Natural Resources in a research report on Wednesday, October 8th. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat, Canadian Natural Resources presently has a consensus rating of “Moderate Buy” and a consensus price target of $62.00.

Canadian Natural Resources Price Performance

Shares of NYSE CNQ opened at $31.43 on Monday. The business’s 50 day moving average price is $31.33 and its 200 day moving average price is $30.85. The firm has a market cap of $65.59 billion, a P/E ratio of 11.14 and a beta of 0.97. Canadian Natural Resources Limited has a 52 week low of $24.65 and a 52 week high of $37.91. The company has a quick ratio of 0.54, a current ratio of 0.85 and a debt-to-equity ratio of 0.38.

Canadian Natural Resources (NYSE:CNQ) (TSE:CNQ) last issued its earnings results on Thursday, August 7th. The oil and gas producer reported $0.51 EPS for the quarter, beating analysts’ consensus estimates of $0.44 by $0.07. Canadian Natural Resources had a return on equity of 19.67% and a net margin of 19.00%.The firm had revenue of $6.39 billion for the quarter, compared to analyst estimates of $8.97 billion. During the same quarter in the prior year, the firm earned $0.88 earnings per share. On average, sell-side analysts expect that Canadian Natural Resources Limited will post 2.45 earnings per share for the current year.

Canadian Natural Resources Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, October 3rd. Shareholders of record on Friday, September 19th were issued a $0.4269 dividend. The ex-dividend date of this dividend was Friday, September 19th. This is a boost from Canadian Natural Resources’s previous quarterly dividend of $0.42. This represents a $1.71 dividend on an annualized basis and a yield of 5.4%. Canadian Natural Resources’s dividend payout ratio is presently 60.64%.

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).