Forum Financial Management LP Has $2.04 Million Stake in Canadian Natural Resources Limited $CNQ

Forum Financial Management LP decreased its stake in shares of Canadian Natural Resources Limited (NYSE:CNQ) (TSE:CNQ) by 7.4% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 64,815 shares of the oil and gas producer’s stock after selling 5,157 shares during the quarter. Forum Financial Management LP’s holdings in Canadian Natural Resources were worth $2,035,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently modified their holdings of CNQ. Wealth Enhancement Advisory Services LLC grew its position in shares of Canadian Natural Resources by 8.1% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 36,803 shares of the oil and gas producer’s stock worth $1,134,000 after buying an additional 2,756 shares during the period. Janney Montgomery Scott LLC acquired a new stake in shares of Canadian Natural Resources during the 1st quarter worth approximately $757,000. Oppenheimer & Co. Inc. grew its position in Canadian Natural Resources by 54.7% in the 1st quarter. Oppenheimer & Co. Inc. now owns 48,964 shares of the oil and gas producer’s stock valued at $1,508,000 after purchasing an additional 17,308 shares during the period. Golden State Wealth Management LLC grew its position in Canadian Natural Resources by 99.7% in the 1st quarter. Golden State Wealth Management LLC now owns 22,400 shares of the oil and gas producer’s stock valued at $690,000 after purchasing an additional 11,181 shares during the period. Finally, Value Partners Investments Inc. grew its position in Canadian Natural Resources by 55.3% in the 1st quarter. Value Partners Investments Inc. now owns 42,564 shares of the oil and gas producer’s stock valued at $1,311,000 after purchasing an additional 15,148 shares during the period. Institutional investors and hedge funds own 74.03% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on CNQ. Weiss Ratings reissued a “hold (c)” rating on shares of Canadian Natural Resources in a research report on Wednesday, October 8th. TD Securities reissued a “buy” rating on shares of Canadian Natural Resources in a research report on Tuesday, September 30th. Zacks Research upgraded Canadian Natural Resources from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, August 26th. Royal Bank Of Canada restated an “outperform” rating and set a $62.00 price objective on shares of Canadian Natural Resources in a research note on Wednesday, September 24th. Finally, National Bankshares restated a “sector perform” rating on shares of Canadian Natural Resources in a research note on Thursday, July 17th. One investment 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. According to MarketBeat, Canadian Natural Resources currently has an average rating of “Moderate Buy” and a consensus price target of $62.00.

Canadian Natural Resources Trading Up 1.5%

NYSE CNQ opened at $30.37 on Thursday. The stock has a market capitalization of $63.37 billion, a price-to-earnings ratio of 10.77 and a beta of 0.97. Canadian Natural Resources Limited has a one year low of $24.65 and a one year high of $35.63. 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 business’s fifty day moving average is $31.33 and its 200-day moving average is $30.86.

Canadian Natural Resources (NYSE:CNQ) (TSE:CNQ) last released its earnings results on Thursday, August 7th. The oil and gas producer reported $0.51 EPS for the quarter, topping analysts’ consensus estimates of $0.44 by $0.07. The company had revenue of $6.39 billion for the quarter, compared to analysts’ expectations of $8.97 billion. Canadian Natural Resources had a return on equity of 19.67% and a net margin of 19.00%.During the same period in the previous year, the business posted $0.88 EPS. Equities research analysts predict that Canadian Natural Resources Limited will post 2.45 EPS for the current year.

Canadian Natural Resources Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 3rd. Investors of record on Friday, September 19th were paid a $0.4269 dividend. 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 an increase from Canadian Natural Resources’s previous quarterly dividend of $0.42. Canadian Natural Resources’s dividend payout ratio (DPR) is presently 60.64%.

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).