Whittier Trust Co. Boosts Stock Position in Canadian Natural Resources Limited $CNQ

Whittier Trust Co. grew its holdings in Canadian Natural Resources Limited (NYSE:CNQ) (TSE:CNQ) by 10.4% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 52,446 shares of the oil and gas producer’s stock after buying an additional 4,926 shares during the quarter. Whittier Trust Co.’s holdings in Canadian Natural Resources were worth $1,646,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Ameritas Advisory Services LLC purchased a new stake in shares of Canadian Natural Resources during the second quarter worth approximately $27,000. Investment Management Corp VA ADV increased its position in shares of 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 in the last quarter. Sierra Ocean LLC increased its position in shares of 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 in the last quarter. Geneos Wealth Management Inc. increased its position in shares of 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 in the last quarter. Finally, Adirondack Trust Co. increased its position in shares of 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 in the last quarter. 74.03% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

CNQ has been the subject of several research reports. Zacks Research upgraded Canadian Natural Resources from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, August 26th. Weiss Ratings reiterated a “hold (c)” rating on shares of Canadian Natural Resources in a research report on Wednesday, October 8th. Raymond James Financial restated an “outperform” rating on shares of Canadian Natural Resources in a report on Friday, August 8th. Royal Bank Of Canada restated an “outperform” rating and issued a $62.00 target price on shares of Canadian Natural Resources in a report on Wednesday, September 24th. Finally, TD Securities reaffirmed a “buy” rating on shares of Canadian Natural Resources in a research note on Tuesday, September 30th. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $62.00.

Canadian Natural Resources Trading Up 1.5%

CNQ opened at $30.37 on Thursday. Canadian Natural Resources Limited has a one year low of $24.65 and a one year high of $35.63. The company has a market cap of $63.37 billion, a P/E ratio of 10.77 and a beta of 0.97. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.54 and a current ratio of 0.85. The business’s 50-day simple moving average is $31.33 and its 200-day simple moving average is $30.86.

Canadian Natural Resources (NYSE:CNQ) (TSE:CNQ) last released its quarterly earnings data on Thursday, August 7th. The oil and gas producer reported $0.51 EPS for the quarter, beating analysts’ consensus estimates of $0.44 by $0.07. Canadian Natural Resources had a return on equity of 19.67% and a net margin of 19.00%.The business had revenue of $6.39 billion for the quarter, compared to the consensus estimate of $8.97 billion. During the same quarter in the prior year, the business posted $0.88 EPS. As a group, equities research analysts expect that Canadian Natural Resources Limited will post 2.45 EPS for the current fiscal year.

Canadian Natural Resources Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, October 3rd. Investors of record on Friday, September 19th were paid a dividend of $0.4269 per share. The ex-dividend date was Friday, September 19th. This represents a $1.71 dividend on an annualized basis and a yield of 5.6%. This is a boost from Canadian Natural Resources’s previous quarterly dividend of $0.42. Canadian Natural Resources’s dividend payout ratio (DPR) is 60.64%.

About Canadian Natural Resources

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).