Peterson Wealth Services Raises Holdings in Canadian Natural Resources Limited $CNQ

Peterson Wealth Services boosted its position in Canadian Natural Resources Limited (NYSE:CNQ) (TSE:CNQ) by 593,340.6% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 189,901 shares of the oil and gas producer’s stock after acquiring an additional 189,869 shares during the quarter. Canadian Natural Resources accounts for 1.6% of Peterson Wealth Services’ investment portfolio, making the stock its 16th biggest position. Peterson Wealth Services’ holdings in Canadian Natural Resources were worth $6,428,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Manchester Capital Management LLC acquired a new position in Canadian Natural Resources in the fourth quarter valued at $28,000. Leonteq Securities AG acquired a new position in shares of Canadian Natural Resources during the fourth quarter worth about $31,000. GoalVest Advisory LLC acquired a new position in shares of Canadian Natural Resources during the fourth quarter worth about $32,000. LOM Asset Management Ltd acquired a new position in shares of Canadian Natural Resources during the fourth quarter worth about $34,000. Finally, Quarry LP acquired a new position in shares of Canadian Natural Resources during the third quarter worth about $32,000. Institutional investors and hedge funds own 74.03% of the company’s stock.

Analyst Upgrades and Downgrades

CNQ has been the topic of a number of recent research reports. Zacks Research cut shares of Canadian Natural Resources from a “strong-buy” rating to a “hold” rating in a research report on Monday. Raymond James Financial raised shares of Canadian Natural Resources from a “market perform” rating to an “outperform” rating in a research report on Thursday, May 7th. Weiss Ratings lowered Canadian Natural Resources from a “buy (b)” rating to a “buy (b-)” rating in a research report on Monday, May 11th. ATB Cormark Capital Markets lowered Canadian Natural Resources from a “strong-buy” rating to a “moderate buy” rating in a research report on Thursday, March 5th. Finally, The Goldman Sachs Group lifted their target price on Canadian Natural Resources from $37.00 to $49.00 and gave the stock a “buy” rating in a research report on Thursday, March 12th. Seven analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat.com, Canadian Natural Resources has a consensus rating of “Moderate Buy” and a consensus target price of $57.00.

Canadian Natural Resources Stock Down 0.1%

Shares of NYSE CNQ opened at $45.47 on Friday. Canadian Natural Resources Limited has a 1 year low of $29.30 and a 1 year high of $51.34. The firm has a market cap of $94.64 billion, a price-to-earnings ratio of 13.57 and a beta of 0.45. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.68 and a current ratio of 0.98. The stock’s 50-day simple moving average is $46.48 and its 200-day simple moving average is $41.34.

Canadian Natural Resources (NYSE:CNQ) (TSE:CNQ) last announced its earnings results on Thursday, May 7th. The oil and gas producer reported $0.85 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.74 by $0.11. Canadian Natural Resources had a return on equity of 17.49% and a net margin of 22.04%.The business had revenue of $7.72 billion for the quarter, compared to analyst estimates of $7.57 billion. During the same period in the previous year, the company earned $1.16 earnings per share. As a group, equities analysts anticipate that Canadian Natural Resources Limited will post 4.2 earnings per share for the current fiscal year.

Canadian Natural Resources Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 7th. Investors of record on Tuesday, June 23rd will be paid a $0.625 dividend. This represents a $2.50 dividend on an annualized basis and a yield of 5.5%. The ex-dividend date is Tuesday, June 23rd. Canadian Natural Resources’s dividend payout ratio (DPR) is 54.03%.

Canadian Natural Resources Company Profile

Canadian Natural Resources Limited (NYSE: CNQ) is a Calgary-based independent oil and natural gas exploration and production company. Established in the early 1970s and publicly listed in Canada and the United States, the company is principally engaged in the exploration, development, production, and marketing of crude oil, natural gas and natural gas liquids. Its asset base spans conventional and unconventional reservoirs and includes oil sands mining and in-situ thermal projects, midstream processing and upgrading capacity, and related field operations.

The company’s operations are concentrated in Western Canada, where it develops heavy crude, bitumen from oil sands and conventional light crude and natural gas resources.