Canadian Natural Resources Limited $CNQ Shares Acquired by Cardinal Point Capital Management ULC

Cardinal Point Capital Management ULC grew its position in Canadian Natural Resources Limited (NYSE:CNQ) (TSE:CNQ) by 5.2% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 244,250 shares of the oil and gas producer’s stock after acquiring an additional 12,142 shares during the quarter. Cardinal Point Capital Management ULC’s holdings in Canadian Natural Resources were worth $11,522,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the company. Axxcess Wealth Management LLC lifted its holdings in shares of Canadian Natural Resources by 28.4% during the 3rd quarter. Axxcess Wealth Management LLC now owns 10,913 shares of the oil and gas producer’s stock valued at $514,000 after acquiring an additional 2,415 shares in the last quarter. Canoe Financial LP raised its position in Canadian Natural Resources by 7.1% in the third quarter. Canoe Financial LP now owns 2,609,343 shares of the oil and gas producer’s stock valued at $124,883,000 after purchasing an additional 171,998 shares during the period. Uncommon Cents Investing Inc lifted its stake in shares of Canadian Natural Resources by 7.8% during the third quarter. Uncommon Cents Investing Inc now owns 6,930 shares of the oil and gas producer’s stock worth $326,000 after purchasing an additional 500 shares in the last quarter. Value Partners Investments Inc. lifted its stake in shares of Canadian Natural Resources by 3.5% during the third quarter. Value Partners Investments Inc. now owns 53,059 shares of the oil and gas producer’s stock worth $2,503,000 after purchasing an additional 1,799 shares in the last quarter. Finally, Hidden Cove Wealth Management LLC purchased a new stake in shares of Canadian Natural Resources in the third quarter worth about $207,000. Hedge funds and other institutional investors own 74.03% of the company’s stock.

Canadian Natural Resources Price Performance

Shares of NYSE CNQ opened at $54.27 on Thursday. Canadian Natural Resources Limited has a twelve month low of $29.98 and a twelve month high of $55.13. The company has a current ratio of 1.00, a quick ratio of 0.75 and a debt-to-equity ratio of 0.32. The company has a market capitalization of $111.51 billion, a price-to-earnings ratio of 13.40 and a beta of 0.53. The business has a 50 day simple moving average of $49.98 and a 200-day simple moving average of $46.73.

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

Canadian Natural Resources Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, October 2nd. Stockholders of record on Friday, September 11th were issued a C$0.62 dividend. The ex-dividend date was Friday, September 11th. This represents a $2.50 dividend on an annualized basis and a dividend yield of 4.6%. Canadian Natural Resources’s dividend payout ratio is presently 44.44%.

Analyst Ratings Changes

Several analysts have issued reports on CNQ shares. TD Securities reaffirmed a “buy” rating on shares of Canadian Natural Resources in a research report on Friday, August 7th. Raymond James Financial cut shares of Canadian Natural Resources from an “outperform” rating to a “market perform” rating in a research report on Wednesday, October 14th. Desjardins upgraded shares of Canadian Natural Resources to a “hold” rating in a research note on Thursday, July 16th. Wall Street Zen raised shares of Canadian Natural Resources from a “hold” rating to a “buy” rating in a report on Saturday, August 15th. Finally, Zacks Research raised shares of Canadian Natural Resources from a “hold” rating to a “strong-buy” rating in a report on Monday, October 5th. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $57.00.

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.