Coastline Trust Co Acquires Shares of 1,000 Canadian Natural Resources Limited (NYSE:CNQ)

Coastline Trust Co bought a new position in Canadian Natural Resources Limited (NYSE:CNQ) (TSE:CNQ) during the third quarter, HoldingsChannel.com reports. The fund bought 1,000 shares of the oil and gas producer’s stock, valued at approximately $33,000.

Other large investors have also recently modified their holdings of the company. Sei Investments Co. raised its holdings in Canadian Natural Resources by 11.7% in the first quarter. Sei Investments Co. now owns 13,592 shares of the oil and gas producer’s stock worth $1,037,000 after buying an additional 1,423 shares during the last quarter. Avantax Advisory Services Inc. increased its holdings in shares of Canadian Natural Resources by 62.4% in the 1st quarter. Avantax Advisory Services Inc. now owns 6,225 shares of the oil and gas producer’s stock worth $475,000 after purchasing an additional 2,391 shares in the last quarter. Blair William & Co. IL purchased a new position in shares of Canadian Natural Resources in the first quarter worth $243,000. Mitsubishi UFJ Trust & Banking Corp lifted its holdings in shares of Canadian Natural Resources by 105.9% during the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 8,555 shares of the oil and gas producer’s stock valued at $661,000 after purchasing an additional 4,400 shares in the last quarter. Finally, Acadian Asset Management LLC boosted its position in shares of Canadian Natural Resources by 95.5% during the first quarter. Acadian Asset Management LLC now owns 4,300 shares of the oil and gas producer’s stock valued at $327,000 after buying an additional 2,100 shares during the last quarter. Hedge funds and other institutional investors own 74.03% of the company’s stock.

Canadian Natural Resources Trading Down 2.7 %

Canadian Natural Resources stock opened at $33.10 on Monday. The business has a 50-day simple moving average of $34.43 and a two-hundred day simple moving average of $35.46. Canadian Natural Resources Limited has a 52-week low of $29.45 and a 52-week high of $41.29. The company has a quick ratio of 0.53, a current ratio of 0.84 and a debt-to-equity ratio of 0.21. The company has a market cap of $69.85 billion, a P/E ratio of 12.85 and a beta of 1.50.

Canadian Natural Resources (NYSE:CNQ) (TSE:CNQ) last released its quarterly earnings results on Thursday, October 31st. The oil and gas producer reported $0.97 earnings per share for the quarter, topping the consensus estimate of $0.67 by $0.30. Canadian Natural Resources had a net margin of 18.45% and a return on equity of 20.07%. The business had revenue of $7.62 billion for the quarter, compared to the consensus estimate of $6.40 billion. During the same period last year, the firm earned $0.96 earnings per share. Analysts predict that Canadian Natural Resources Limited will post 2.44 EPS for the current year.

Canadian Natural Resources Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, January 3rd. Shareholders of record on Friday, December 13th will be paid a dividend of $0.388 per share. This is a boost from Canadian Natural Resources’s previous quarterly dividend of $0.38. The ex-dividend date is Friday, December 13th. This represents a $1.55 dividend on an annualized basis and a yield of 4.69%. Canadian Natural Resources’s dividend payout ratio (DPR) is presently 60.58%.

Wall Street Analyst Weigh In

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

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).