Pinnacle Wealth Planning Services Inc. Decreases Stock Position in Canadian Natural Resources Limited $CNQ

Pinnacle Wealth Planning Services Inc. lessened its holdings in Canadian Natural Resources Limited (NYSE:CNQ) (TSE:CNQ) by 17.3% during the 2nd quarter, Holdings Channel reports. The firm owned 7,689 shares of the oil and gas producer’s stock after selling 1,613 shares during the quarter. Pinnacle Wealth Planning Services Inc.’s holdings in Canadian Natural Resources were worth $241,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. MAI Capital Management lifted its stake in Canadian Natural Resources by 9.6% in the 1st quarter. MAI Capital Management now owns 4,365 shares of the oil and gas producer’s stock valued at $134,000 after buying an additional 382 shares in the last quarter. Haven Private LLC increased its position in Canadian Natural Resources by 3.4% during the second quarter. Haven Private LLC now owns 11,617 shares of the oil and gas producer’s stock worth $365,000 after buying an additional 383 shares in the last quarter. King Luther Capital Management Corp raised its holdings in shares of Canadian Natural Resources by 1.2% in the second quarter. King Luther Capital Management Corp now owns 32,283 shares of the oil and gas producer’s stock worth $1,014,000 after acquiring an additional 387 shares during the last quarter. Kingsview Wealth Management LLC lifted its position in shares of Canadian Natural Resources by 5.7% in 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 acquiring an additional 434 shares in the last quarter. Finally, Thurston Springer Miller Herd & Titak Inc. lifted its position in shares of Canadian Natural Resources by 8.7% in the second quarter. Thurston Springer Miller Herd & Titak Inc. now owns 5,613 shares of the oil and gas producer’s stock valued at $176,000 after acquiring an additional 448 shares in the last quarter. 74.03% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the stock. Scotiabank reissued an “outperform” rating on shares of Canadian Natural Resources in a research note on Thursday, October 9th. Weiss Ratings reiterated a “hold (c)” rating on shares of Canadian Natural Resources in a report on Wednesday, October 8th. Wells Fargo & Company raised shares of Canadian Natural Resources to a “hold” rating in a research report on Thursday, October 16th. Zacks Research raised shares of Canadian Natural Resources from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, August 26th. Finally, TD Securities reaffirmed a “buy” rating on shares of Canadian Natural Resources in a research note on Tuesday, September 30th. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat, Canadian Natural Resources currently has a consensus rating of “Moderate Buy” and a consensus target price of $62.00.

Canadian Natural Resources Stock Down 0.1%

CNQ opened at $34.01 on Thursday. Canadian Natural Resources Limited has a 12 month low of $24.65 and a 12 month high of $34.97. The business has a 50-day moving average of $31.92 and a two-hundred day moving average of $31.47. The company has a debt-to-equity ratio of 0.38, a current ratio of 0.85 and a quick ratio of 0.54. The stock has a market capitalization of $70.86 billion, a price-to-earnings ratio of 12.06 and a beta of 0.96.

Canadian Natural Resources (NYSE:CNQ) (TSE:CNQ) last announced its quarterly earnings data on Thursday, November 6th. The oil and gas producer reported $0.62 earnings per share for the quarter, topping the consensus estimate of $0.54 by $0.08. Canadian Natural Resources had a net margin of 19.00% and a return on equity of 19.67%. The business had revenue of $6.79 billion for the quarter, compared to analyst estimates of $6.81 billion. During the same period in the prior year, the firm posted $0.97 EPS. On average, research 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 will be paid on Tuesday, January 6th. Shareholders of record on Friday, December 12th will be issued a $0.5875 dividend. This is a boost from Canadian Natural Resources’s previous quarterly dividend of $0.43. The ex-dividend date is Friday, December 12th. This represents a $2.35 dividend on an annualized basis and a dividend yield of 6.9%. Canadian Natural Resources’s dividend payout ratio (DPR) is 73.89%.

About Canadian Natural Resources

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).