Canadian Natural Resources Limited $CNQ Stock Sold by Lifetime Wealth Management P.C.

Lifetime Wealth Management P.C. reduced its stake in Canadian Natural Resources Limited (NYSE:CNQ) (TSE:CNQ) by 5.8% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 172,311 shares of the oil and gas producer’s stock after selling 10,655 shares during the quarter. Canadian Natural Resources comprises approximately 4.9% of Lifetime Wealth Management P.C.’s portfolio, making the stock its 4th biggest holding. Lifetime Wealth Management P.C.’s holdings in Canadian Natural Resources were worth $8,111,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also made changes to their positions in the company. Barometer Capital Management Inc. acquired a new position in shares of Canadian Natural Resources in the first quarter valued at approximately $6,198,000. Bank of New York Mellon Corp purchased a new position in shares of Canadian Natural Resources during the second quarter valued at approximately $117,215,000. WCM Investment Management LLC lifted its stake in shares of Canadian Natural Resources by 22.4% during the first quarter. WCM Investment Management LLC now owns 5,122,209 shares of the oil and gas producer’s stock valued at $252,883,000 after buying an additional 938,210 shares during the period. Quantitative Investment Management LLC purchased a new position in shares of Canadian Natural Resources during the second quarter valued at approximately $1,785,000. Finally, Amundi lifted its stake in shares of Canadian Natural Resources by 3.1% during the second quarter. Amundi now owns 8,238,632 shares of the oil and gas producer’s stock valued at $325,426,000 after buying an additional 244,205 shares during the period. Institutional investors and hedge funds own 74.03% of the company’s stock.

Canadian Natural Resources Stock Performance

NYSE:CNQ opened at $56.20 on Monday. The company has a quick ratio of 0.75, a current ratio of 1.00 and a debt-to-equity ratio of 0.32. The company has a market cap of $115.49 billion, a P/E ratio of 13.88 and a beta of 0.45. Canadian Natural Resources Limited has a fifty-two week low of $30.13 and a fifty-two week high of $56.27. The firm’s 50 day moving average is $50.76 and its two-hundred day moving average is $45.85.

Canadian Natural Resources (NYSE:CNQ) (TSE:CNQ) last announced its quarterly earnings data on Thursday, August 6th. The oil and gas producer reported $1.58 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.43 by $0.15. The company had revenue of $14.74 billion during the quarter, compared to analysts’ expectations of $9.40 billion. Canadian Natural Resources had a net margin of 22.78% and a return on equity of 23.91%. Analysts expect that Canadian Natural Resources Limited will post 4.10 EPS for the current year.

Canadian Natural Resources Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, October 2nd. Investors of record on Friday, September 11th were issued a C$0.62 dividend. The ex-dividend date was Friday, September 11th. This represents a $2.50 dividend on an annualized basis and a yield of 4.4%. Canadian Natural Resources’s dividend payout ratio (DPR) is presently 44.44%.

Wall Street Analysts Forecast Growth

CNQ has been the subject of several recent analyst reports. Weiss Ratings raised shares of Canadian Natural Resources from a “buy (b)” rating to a “buy (b+)” rating in a research note on Thursday, October 8th. Raymond James Financial lowered Canadian Natural Resources from an “outperform” rating to a “market perform” rating in a research note on Wednesday, October 14th. Desjardins upgraded Canadian Natural Resources to a “hold” rating in a report on Thursday, July 16th. Zacks Research raised Canadian Natural Resources from a “hold” rating to a “strong-buy” rating in a research report on Monday, October 5th. Finally, Wall Street Zen upgraded Canadian Natural Resources from a “hold” rating to a “buy” rating in a research note on Saturday, August 15th. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $57.00.

About Canadian Natural Resources

Canadian Natural Resources Limited is an independent energy company engaged in the exploration, development, production, marketing and sale of crude oil, natural gas and natural gas liquids. Its portfolio includes conventional and unconventional petroleum assets, heavy crude oil operations, and oil sands projects that produce bitumen and synthetic crude oil.

The company’s principal operations are located in Western Canada, including oil sands and conventional assets in Alberta and natural gas properties in Alberta and British Columbia.