McAlvany Wealth Management LLC Acquires 16,460 Shares of Canadian Natural Resources Limited $CNQ

McAlvany Wealth Management LLC increased its stake in Canadian Natural Resources Limited (NYSE:CNQ) (TSE:CNQ) by 52.7% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 47,702 shares of the oil and gas producer’s stock after purchasing an additional 16,460 shares during the quarter. Canadian Natural Resources comprises about 1.1% of McAlvany Wealth Management LLC’s holdings, making the stock its 29th largest position. McAlvany Wealth Management LLC’s holdings in Canadian Natural Resources were worth $2,245,000 as of its most recent filing with the SEC.

A number of other large investors also recently modified their holdings of CNQ. Legacy Financial Advisors Inc. lifted its stake in Canadian Natural Resources by 3.0% in the 2nd quarter. Legacy Financial Advisors Inc. now owns 7,447 shares of the oil and gas producer’s stock worth $294,000 after purchasing an additional 219 shares in the last quarter. Personal CFO Solutions LLC grew its position in shares of Canadian Natural Resources by 1.7% during the 1st quarter. Personal CFO Solutions LLC now owns 15,199 shares of the oil and gas producer’s stock valued at $747,000 after purchasing an additional 251 shares in the last quarter. Allworth Financial LP grew its position in shares of Canadian Natural Resources by 2.5% during the 2nd quarter. Allworth Financial LP now owns 10,854 shares of the oil and gas producer’s stock valued at $429,000 after purchasing an additional 262 shares in the last quarter. AdvisorNet Financial Inc increased its holdings in shares of Canadian Natural Resources by 2.0% in the third quarter. AdvisorNet Financial Inc now owns 15,084 shares of the oil and gas producer’s stock worth $782,000 after purchasing an additional 291 shares during the period. Finally, CoreCap Advisors LLC increased its holdings in shares of Canadian Natural Resources by 15.4% in the second quarter. CoreCap Advisors LLC now owns 2,202 shares of the oil and gas producer’s stock worth $87,000 after purchasing an additional 294 shares during the period. 74.03% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on CNQ shares. Raymond James Financial downgraded Canadian Natural Resources from an “outperform” rating to a “market perform” rating in a research report on Wednesday, October 14th. TD Securities reaffirmed a “buy” rating on shares of Canadian Natural Resources in a report on Friday, August 7th. Zacks Research upgraded Canadian Natural Resources from a “hold” rating to a “strong-buy” rating in a research report on Monday, October 5th. Scotiabank reissued a “sector perform” rating on shares of Canadian Natural Resources in a report on Monday, October 19th. Finally, Weiss Ratings raised Canadian Natural Resources from a “buy (b)” rating to a “buy (b+)” rating in a report on Thursday, October 8th. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $57.00.

Canadian Natural Resources Stock Performance

Shares of CNQ stock opened at $53.69 on Tuesday. The company has a 50 day moving average price of $50.81 and a 200-day moving average price of $45.96. The firm has a market capitalization of $110.32 billion, a PE ratio of 13.26 and a beta of 0.53. The company has a quick ratio of 0.75, a current ratio of 1.00 and a debt-to-equity ratio of 0.32. Canadian Natural Resources Limited has a 52 week low of $30.13 and a 52 week high of $56.27.

Canadian Natural Resources (NYSE:CNQ) (TSE:CNQ) last issued its quarterly earnings data 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 company had revenue of $14.74 billion during the quarter, compared to analyst estimates of $9.40 billion. Canadian Natural Resources had a return on equity of 23.91% and a net margin of 22.78%. 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 disclosed a quarterly dividend, which was paid on Friday, October 2nd. Stockholders of record on Friday, September 11th were given a dividend of C$0.62 per share. The ex-dividend date of this dividend was Friday, September 11th. This represents a $2.50 dividend on an annualized basis and a dividend yield of 4.7%. Canadian Natural Resources’s payout ratio is presently 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.