Trinity Legacy Partners LLC Buys 3,088 Shares of Canadian Natural Resources Limited $CNQ

Trinity Legacy Partners LLC lifted its stake in Canadian Natural Resources Limited (NYSE:CNQ) (TSE:CNQ) by 20.8% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 17,900 shares of the oil and gas producer’s stock after buying an additional 3,088 shares during the period. Trinity Legacy Partners LLC’s holdings in Canadian Natural Resources were worth $553,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Investment Management Corp VA ADV lifted its stake in Canadian Natural Resources by 158.3% during the first quarter. Investment Management Corp VA ADV now owns 997 shares of the oil and gas producer’s stock worth $31,000 after purchasing an additional 611 shares during the period. Versant Capital Management Inc lifted its stake in Canadian Natural Resources by 253.2% during the first quarter. Versant Capital Management Inc now owns 1,307 shares of the oil and gas producer’s stock worth $40,000 after purchasing an additional 937 shares during the period. Sierra Ocean LLC lifted its stake in Canadian Natural Resources by 104.0% during the first quarter. Sierra Ocean LLC now owns 1,569 shares of the oil and gas producer’s stock worth $48,000 after purchasing an additional 800 shares during the period. Geneos Wealth Management Inc. lifted its stake in Canadian Natural Resources by 47.3% during the first quarter. Geneos Wealth Management Inc. now owns 1,644 shares of the oil and gas producer’s stock worth $51,000 after purchasing an additional 528 shares during the period. Finally, Adirondack Trust Co. lifted its stake in Canadian Natural Resources by 317.1% during the second quarter. Adirondack Trust Co. now owns 1,710 shares of the oil and gas producer’s stock worth $54,000 after purchasing an additional 1,300 shares during the period. Institutional investors own 74.03% of the company’s stock.

Canadian Natural Resources Stock Performance

NYSE:CNQ opened at $31.48 on Friday. Canadian Natural Resources Limited has a 1 year low of $24.65 and a 1 year high of $37.91. The firm has a 50 day moving average of $31.26 and a 200-day moving average of $30.79. The company has a current ratio of 0.85, a quick ratio of 0.54 and a debt-to-equity ratio of 0.38. The stock has a market capitalization of $65.70 billion, a P/E ratio of 11.16 and a beta of 0.97.

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

Canadian Natural Resources Increases Dividend

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

Analyst Ratings Changes

A number of brokerages have commented on CNQ. TD Securities restated a “buy” rating on shares of Canadian Natural Resources in a research note on Tuesday. Zacks Research upgraded shares of Canadian Natural Resources from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, August 26th. Scotiabank restated an “outperform” rating on shares of Canadian Natural Resources in a research note on Friday, July 11th. Royal Bank Of Canada reiterated an “outperform” rating and issued a $62.00 target price on shares of Canadian Natural Resources in a research note on Wednesday, September 24th. Finally, National Bankshares reiterated a “sector perform” rating on shares of Canadian Natural Resources in a research note on Thursday, July 17th. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $62.00.

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).