Verity & Verity LLC Raises Stock Position in Canadian Natural Resources Limited $CNQ

Verity & Verity LLC grew its holdings in Canadian Natural Resources Limited (NYSE:CNQ) (TSE:CNQ) by 1.1% in the 2nd quarter, HoldingsChannel reports. The firm owned 490,659 shares of the oil and gas producer’s stock after purchasing an additional 5,188 shares during the quarter. Verity & Verity LLC’s holdings in Canadian Natural Resources were worth $15,407,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in the business. MAI Capital Management boosted its position in Canadian Natural Resources by 9.6% in the 1st quarter. MAI Capital Management now owns 4,365 shares of the oil and gas producer’s stock valued at $134,000 after buying an additional 382 shares during the period. Haven Private LLC raised its stake in shares of Canadian Natural Resources by 3.4% in the second quarter. Haven Private LLC now owns 11,617 shares of the oil and gas producer’s stock valued at $365,000 after acquiring an additional 383 shares in the last quarter. King Luther Capital Management Corp boosted its holdings in Canadian Natural Resources by 1.2% in the second quarter. King Luther Capital Management Corp now owns 32,283 shares of the oil and gas producer’s stock valued at $1,014,000 after purchasing an additional 387 shares during the period. Kingsview Wealth Management LLC grew its stake in Canadian Natural Resources by 5.7% during the 2nd quarter. Kingsview Wealth Management LLC now owns 8,109 shares of the oil and gas producer’s stock worth $255,000 after purchasing an additional 434 shares in the last quarter. Finally, Thurston Springer Miller Herd & Titak Inc. increased its holdings in Canadian Natural Resources by 8.7% during the 2nd quarter. Thurston Springer Miller Herd & Titak Inc. now owns 5,613 shares of the oil and gas producer’s stock worth $176,000 after purchasing an additional 448 shares during the period. 74.03% of the stock is owned by hedge funds and other institutional investors.

Canadian Natural Resources Stock Performance

NYSE CNQ opened at $32.73 on Tuesday. Canadian Natural Resources Limited has a 1 year low of $24.65 and a 1 year high of $34.97. The company has a debt-to-equity ratio of 0.38, a current ratio of 0.85 and a quick ratio of 0.54. The company has a market capitalization of $68.18 billion, a PE ratio of 11.63 and a beta of 0.96. The company has a fifty day moving average of $32.04 and a two-hundred day moving average of $31.59.

Canadian Natural Resources (NYSE:CNQ) (TSE:CNQ) last released its quarterly earnings results on Thursday, November 6th. The oil and gas producer reported $0.62 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.54 by $0.08. The firm had revenue of $6.79 billion for the quarter, compared to the consensus estimate of $6.81 billion. Canadian Natural Resources had a return on equity of 19.67% and a net margin of 19.00%.During the same quarter last year, the business posted $0.97 EPS. As a group, analysts expect that Canadian Natural Resources Limited will post 2.45 earnings per share for the current year.

Canadian Natural Resources Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, January 6th. Investors of record on Friday, December 12th will be paid a dividend of $0.5875 per share. The ex-dividend date is Friday, December 12th. This represents a $2.35 dividend on an annualized basis and a yield of 7.2%. This is an increase from Canadian Natural Resources’s previous quarterly dividend of $0.43. Canadian Natural Resources’s dividend payout ratio (DPR) is currently 73.89%.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on CNQ. Raymond James Financial reiterated an “outperform” rating on shares of Canadian Natural Resources in a research note on Friday, August 8th. Weiss Ratings reiterated a “hold (c)” rating on shares of Canadian Natural Resources in a research note on Wednesday, October 8th. Royal Bank Of Canada reissued an “outperform” rating and issued a $62.00 price objective on shares of Canadian Natural Resources in a research report on Wednesday, September 24th. Zacks Research raised Canadian Natural Resources from a “hold” rating to a “strong-buy” rating in a report on Tuesday, August 26th. Finally, Desjardins downgraded Canadian Natural Resources from a “buy” rating to a “hold” rating in a report on Monday. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $62.00.

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).