Raymond James Trust N.A. Has $1.04 Million Position in Canadian Natural Resources Limited (NYSE:CNQ)

Raymond James Trust N.A. lessened its stake in shares of Canadian Natural Resources Limited (NYSE:CNQ) (TSE:CNQ) by 9.8% during the third quarter, Holdings Channel reports. The fund owned 31,265 shares of the oil and gas producer’s stock after selling 3,409 shares during the quarter. Raymond James Trust N.A.’s holdings in Canadian Natural Resources were worth $1,038,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of CNQ. Park Place Capital Corp lifted its position in shares of Canadian Natural Resources by 100.0% during the 2nd quarter. Park Place Capital Corp now owns 716 shares of the oil and gas producer’s stock valued at $25,000 after acquiring an additional 358 shares during the period. RFP Financial Group LLC raised its holdings in Canadian Natural Resources by 98.3% during the second quarter. RFP Financial Group LLC now owns 710 shares of the oil and gas producer’s stock worth $25,000 after buying an additional 352 shares during the last quarter. Sugarloaf Wealth Management LLC raised its holdings in Canadian Natural Resources by 100.0% during the second quarter. Sugarloaf Wealth Management LLC now owns 728 shares of the oil and gas producer’s stock worth $26,000 after buying an additional 364 shares during the last quarter. Bruce G. Allen Investments LLC raised its holdings in Canadian Natural Resources by 91.6% during the second quarter. Bruce G. Allen Investments LLC now owns 868 shares of the oil and gas producer’s stock worth $31,000 after buying an additional 415 shares during the last quarter. Finally, GAMMA Investing LLC raised its holdings in Canadian Natural Resources by 104.7% during the second quarter. GAMMA Investing LLC now owns 874 shares of the oil and gas producer’s stock worth $31,000 after buying an additional 447 shares during the last quarter. Institutional investors and hedge funds own 74.03% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Canadian Natural Resources Stock Performance

Shares of CNQ stock opened at $34.84 on Monday. The firm has a 50-day moving average of $34.59 and a 200-day moving average of $35.33. The company has a market cap of $73.53 billion, a P/E ratio of 13.56 and a beta of 1.50. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.84 and a quick ratio of 0.53. Canadian Natural Resources Limited has a one year low of $29.45 and a one year high of $41.29.

Canadian Natural Resources (NYSE:CNQ) (TSE:CNQ) last announced its earnings results on Thursday, October 31st. The oil and gas producer reported $0.97 EPS for the quarter, beating the consensus estimate of $0.67 by $0.30. The company had revenue of $7.62 billion during the quarter, compared to the consensus estimate of $6.40 billion. Canadian Natural Resources had a net margin of 18.45% and a return on equity of 20.07%. During the same quarter in the prior year, the company posted $0.96 earnings per share. Equities research analysts forecast that Canadian Natural Resources Limited will post 2.44 EPS for the current fiscal year.

Canadian Natural Resources Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, January 3rd. Stockholders of record on Friday, December 13th will be issued a $0.388 dividend. The ex-dividend date is Friday, December 13th. This represents a $1.55 annualized dividend and a dividend yield of 4.45%. This is an increase from Canadian Natural Resources’s previous quarterly dividend of $0.38. Canadian Natural Resources’s dividend payout ratio is currently 64.59%.

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).