Dynasty Wealth Management LLC Grows Position in Canadian Natural Resources Limited (NYSE:CNQ)

Dynasty Wealth Management LLC boosted its stake in Canadian Natural Resources Limited (NYSE:CNQ) (TSE:CNQ) by 6.5% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 29,113 shares of the oil and gas producer’s stock after purchasing an additional 1,769 shares during the quarter. Dynasty Wealth Management LLC’s holdings in Canadian Natural Resources were worth $897,000 as of its most recent filing with the SEC.

Other institutional investors have also recently bought and sold shares of the company. FMR LLC grew its holdings in Canadian Natural Resources by 8.7% in the fourth quarter. FMR LLC now owns 92,550,104 shares of the oil and gas producer’s stock valued at $2,857,337,000 after purchasing an additional 7,372,718 shares during the period. Summit Financial LLC purchased a new stake in Canadian Natural Resources in the fourth quarter valued at approximately $267,000. Janney Montgomery Scott LLC purchased a new stake in Canadian Natural Resources in the first quarter valued at approximately $757,000. Graybill Wealth Management LTD. purchased a new stake in Canadian Natural Resources in the first quarter valued at approximately $3,697,000. Finally, PKO Investment Management Joint Stock Co acquired a new position in Canadian Natural Resources during the fourth quarter valued at approximately $2,452,000. 74.03% of the stock is currently owned by hedge funds and other institutional investors.

Canadian Natural Resources Stock Performance

NYSE:CNQ opened at $31.00 on Friday. Canadian Natural Resources Limited has a twelve month low of $24.65 and a twelve month high of $37.91. The company has a current ratio of 0.84, a quick ratio of 0.53 and a debt-to-equity ratio of 0.40. The company has a 50-day moving average of $31.71 and a 200-day moving average of $30.43. The firm has a market cap of $64.84 billion, a price-to-earnings ratio of 12.16 and a beta of 1.03.

Canadian Natural Resources (NYSE:CNQ) (TSE:CNQ) last announced its earnings results on Thursday, May 8th. The oil and gas producer reported $0.81 EPS for the quarter, topping the consensus estimate of $0.73 by $0.08. Canadian Natural Resources had a net margin of 16.92% and a return on equity of 20.90%. The company had revenue of $6.96 billion during the quarter, compared to analysts’ expectations of $10.14 billion. During the same period last year, the company posted $1.37 earnings per share. Analysts forecast that Canadian Natural Resources Limited will post 2.45 earnings per share for the current fiscal year.

Canadian Natural Resources Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, July 3rd. Investors of record on Friday, June 13th were issued a dividend of $0.4227 per share. This is a boost from Canadian Natural Resources’s previous quarterly dividend of $0.41. This represents a $1.69 annualized dividend and a dividend yield of 5.45%. The ex-dividend date of this dividend was Friday, June 13th. Canadian Natural Resources’s dividend payout ratio (DPR) is currently 67.06%.

Analyst Ratings Changes

A number of research analysts have weighed in on the stock. Raymond James Financial raised shares of Canadian Natural Resources from a “market perform” rating to an “outperform” rating in a research report on Wednesday, April 9th. Scotiabank reissued an “outperform” rating on shares of Canadian Natural Resources in a report on Friday, July 11th. Royal Bank Of Canada reissued an “outperform” rating and set a $63.00 target price on shares of Canadian Natural Resources in a report on Thursday, March 27th. Finally, National Bankshares restated a “sector perform” rating on shares of Canadian Natural Resources in a research report on Thursday. Four equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $63.00.

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).