Merrion Investment Management Co LLC Sells 2,000 Shares of Canadian Natural Resources Limited $CNQ

Merrion Investment Management Co LLC cut its position in shares of Canadian Natural Resources Limited (NYSE:CNQ) (TSE:CNQ) by 2.5% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 78,800 shares of the oil and gas producer’s stock after selling 2,000 shares during the period. Canadian Natural Resources makes up about 1.6% of Merrion Investment Management Co LLC’s portfolio, making the stock its 16th biggest holding. Merrion Investment Management Co LLC’s holdings in Canadian Natural Resources were worth $2,474,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in CNQ. MAI Capital Management boosted its position in shares of Canadian Natural Resources by 9.6% during the 1st quarter. MAI Capital Management now owns 4,365 shares of the oil and gas producer’s stock valued at $134,000 after acquiring an additional 382 shares during the last quarter. Haven Private LLC lifted 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 valued at $365,000 after purchasing an additional 383 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. increased its holdings in shares of Canadian Natural Resources by 8.7% in the 2nd quarter. Thurston Springer Miller Herd & Titak Inc. now owns 5,613 shares of the oil and gas producer’s stock worth $176,000 after buying an additional 448 shares during the last quarter. Verdence Capital Advisors LLC raised its position in shares of Canadian Natural Resources by 0.8% during the 2nd quarter. Verdence Capital Advisors LLC now owns 58,891 shares of the oil and gas producer’s stock valued at $1,849,000 after buying an additional 460 shares in the last quarter. Finally, Moody National Bank Trust Division grew its position in Canadian Natural Resources by 4.6% in the second quarter. Moody National Bank Trust Division now owns 11,081 shares of the oil and gas producer’s stock worth $348,000 after acquiring an additional 492 shares in the last quarter. Hedge funds and other institutional investors own 74.03% of the company’s stock.

Canadian Natural Resources Trading Up 0.4%

CNQ opened at $31.61 on Friday. The company has a quick ratio of 0.54, a current ratio of 0.85 and a debt-to-equity ratio of 0.38. The stock’s fifty day moving average is $31.61 and its two-hundred day moving average is $31.26. The company has a market capitalization of $65.92 billion, a P/E ratio of 11.21 and a beta of 0.96. Canadian Natural Resources Limited has a 52 week low of $24.65 and a 52 week high of $34.97.

Canadian Natural Resources (NYSE:CNQ) (TSE:CNQ) last issued its earnings results on Thursday, November 6th. The oil and gas producer reported $0.62 earnings per share (EPS) 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 company had revenue of $6.79 billion for the quarter, compared to analysts’ expectations of $6.81 billion. During the same period in the prior year, the business earned $0.97 EPS. Analysts forecast that Canadian Natural Resources Limited will post 2.45 earnings per share for the current year.

Canadian Natural Resources Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 6th. Investors of record on Friday, December 12th will be paid a $0.5875 dividend. This represents a $2.35 dividend on an annualized basis and a yield of 7.4%. This is a positive change from Canadian Natural Resources’s previous quarterly dividend of $0.43. The ex-dividend date of this dividend is Friday, December 12th. Canadian Natural Resources’s payout ratio is presently 75.66%.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the company. Weiss Ratings restated a “hold (c)” rating on shares of Canadian Natural Resources in a report on Wednesday, October 8th. National Bankshares reiterated a “sector perform” rating on shares of Canadian Natural Resources in a report on Thursday, July 17th. Royal Bank Of Canada reissued an “outperform” rating and issued a $62.00 price objective on shares of Canadian Natural Resources in a research note on Wednesday, September 24th. Raymond James Financial restated an “outperform” rating on shares of Canadian Natural Resources in a research report on Friday, August 8th. Finally, Scotiabank reiterated an “outperform” rating on shares of Canadian Natural Resources in a report on Thursday, October 9th. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $62.00.

Canadian Natural Resources Company 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).