Pitcairn Co. Raises Stock Holdings in Canadian Natural Resources Limited (NYSE:CNQ)

Pitcairn Co. boosted its stake in Canadian Natural Resources Limited (NYSE:CNQ) (TSE:CNQ) by 1.3% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 36,390 shares of the oil and gas producer’s stock after acquiring an additional 475 shares during the period. Pitcairn Co.’s holdings in Canadian Natural Resources were worth $1,209,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the company. Algert Global LLC acquired a new position in Canadian Natural Resources in the 3rd quarter valued at about $1,520,000. Kingsview Wealth Management LLC lifted its stake in Canadian Natural Resources by 4.9% during the third quarter. Kingsview Wealth Management LLC now owns 9,018 shares of the oil and gas producer’s stock worth $300,000 after purchasing an additional 419 shares during the last quarter. Cerity Partners LLC lifted its stake in Canadian Natural Resources by 112.8% during the third quarter. Cerity Partners LLC now owns 453,393 shares of the oil and gas producer’s stock worth $15,057,000 after purchasing an additional 240,354 shares during the last quarter. Studio Investment Management LLC lifted its stake in Canadian Natural Resources by 160.1% in the third quarter. Studio Investment Management LLC now owns 20,988 shares of the oil and gas producer’s stock valued at $705,000 after buying an additional 12,918 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its stake in Canadian Natural Resources by 5.6% in the third quarter. Charles Schwab Investment Management Inc. now owns 5,675,934 shares of the oil and gas producer’s stock valued at $188,675,000 after buying an additional 301,297 shares during the last quarter. 74.03% of the stock is owned by institutional investors and hedge funds.

Canadian Natural Resources Trading Up 0.8 %

Shares of CNQ stock opened at $34.84 on Monday. Canadian Natural Resources Limited has a fifty-two week low of $29.45 and a fifty-two week high of $41.29. The stock has a market cap of $73.53 billion, a P/E ratio of 13.56 and a beta of 1.50. The business has a fifty day simple moving average of $34.59 and a 200-day simple moving average of $35.33. The company has a quick ratio of 0.53, a current ratio of 0.84 and a debt-to-equity ratio of 0.21.

Canadian Natural Resources (NYSE:CNQ) (TSE:CNQ) last posted its quarterly earnings data on Thursday, October 31st. The oil and gas producer reported $0.97 EPS for the quarter, topping analysts’ consensus estimates of $0.67 by $0.30. The firm had revenue of $7.62 billion during the quarter, compared to analysts’ expectations of $6.40 billion. Canadian Natural Resources had a return on equity of 20.07% and a net margin of 18.45%. During the same quarter last year, the business posted $0.96 EPS. On average, analysts forecast that Canadian Natural Resources Limited will post 2.44 earnings per share for the current fiscal year.

Canadian Natural Resources Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 3rd. Shareholders of record on Friday, December 13th will be paid a $0.388 dividend. This represents a $1.55 dividend on an annualized basis and a yield of 4.45%. This is a positive change from Canadian Natural Resources’s previous quarterly dividend of $0.38. The ex-dividend date is Friday, December 13th. Canadian Natural Resources’s dividend payout ratio (DPR) is presently 64.59%.

Analyst Upgrades and Downgrades

Several research firms have recently commented on CNQ. Desjardins upgraded Canadian Natural Resources from a “hold” rating to a “moderate buy” rating in a research note on Tuesday, October 8th. StockNews.com cut Canadian Natural Resources from a “buy” rating to a “hold” rating in a research report on Friday, August 23rd. Five analysts have rated the stock with a hold rating, According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $51.00.

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).