Canadian Natural Resources Limited $CNQ Shares Purchased by Numerai GP LLC

Numerai GP LLC boosted its stake in shares of Canadian Natural Resources Limited (NYSE:CNQ) (TSE:CNQ) by 102.5% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 77,164 shares of the oil and gas producer’s stock after purchasing an additional 39,049 shares during the period. Numerai GP LLC’s holdings in Canadian Natural Resources were worth $2,466,000 at the end of the most recent reporting period.

Several other institutional investors also recently made changes to their positions in CNQ. Tacita Capital Inc increased its holdings in shares of Canadian Natural Resources by 6.1% during the 3rd quarter. Tacita Capital Inc now owns 5,753 shares of the oil and gas producer’s stock worth $184,000 after buying an additional 330 shares during the last quarter. Frank Rimerman Advisors LLC boosted its holdings in Canadian Natural Resources by 2.2% in the third quarter. Frank Rimerman Advisors LLC now owns 17,886 shares of the oil and gas producer’s stock valued at $572,000 after acquiring an additional 390 shares during the last quarter. EverSource Wealth Advisors LLC grew its position in Canadian Natural Resources by 9.4% during the third quarter. EverSource Wealth Advisors LLC now owns 4,939 shares of the oil and gas producer’s stock valued at $158,000 after acquiring an additional 426 shares during the period. Kingsview Wealth Management LLC increased its stake in Canadian Natural Resources by 5.7% during the second quarter. Kingsview Wealth Management LLC now owns 8,109 shares of the oil and gas producer’s stock worth $255,000 after acquiring an additional 434 shares during the last quarter. Finally, Nisa Investment Advisors LLC raised its holdings in shares of Canadian Natural Resources by 100.0% in the 3rd quarter. Nisa Investment Advisors LLC now owns 1,000 shares of the oil and gas producer’s stock worth $32,000 after purchasing an additional 500 shares during the period. 74.03% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the company. Zacks Research lowered Canadian Natural Resources from a “hold” rating to a “strong sell” rating in a research note on Friday, March 6th. Wall Street Zen raised Canadian Natural Resources from a “sell” rating to a “hold” rating in a research report on Saturday, January 31st. Evercore lowered Canadian Natural Resources from an “outperform” rating to an “in-line” rating in a research report on Tuesday, January 6th. Royal Bank Of Canada increased their price objective on shares of Canadian Natural Resources from $61.00 to $65.00 and gave the company an “outperform” rating in a research report on Friday, March 6th. Finally, Desjardins lowered shares of Canadian Natural Resources from a “buy” rating to a “hold” rating in a research note on Monday, November 24th. Six research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, Canadian Natural Resources has a consensus rating of “Hold” and a consensus target price of $57.00.

Canadian Natural Resources Stock Up 0.6%

Shares of NYSE CNQ opened at $48.75 on Tuesday. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.63 and a current ratio of 0.95. Canadian Natural Resources Limited has a 1 year low of $24.65 and a 1 year high of $49.07. The stock’s 50-day simple moving average is $39.52 and its 200-day simple moving average is $34.85. The firm has a market cap of $101.63 billion, a price-to-earnings ratio of 13.21 and a beta of 0.62.

Canadian Natural Resources (NYSE:CNQ) (TSE:CNQ) last issued its quarterly earnings results on Thursday, March 5th. The oil and gas producer reported $0.59 EPS for the quarter, beating analysts’ consensus estimates of $0.53 by $0.06. Canadian Natural Resources had a return on equity of 17.84% and a net margin of 24.48%.The firm had revenue of $6.89 billion during the quarter, compared to the consensus estimate of $6.64 billion. During the same quarter in the prior year, the business posted $0.93 earnings per share. As a group, equities analysts anticipate that Canadian Natural Resources Limited will post 2.45 earnings per share for the current fiscal year.

Canadian Natural Resources Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 7th. Stockholders of record on Friday, March 20th will be given a dividend of $0.625 per share. The ex-dividend date of this dividend is Friday, March 20th. This is an increase from Canadian Natural Resources’s previous quarterly dividend of $0.59. This represents a $2.50 dividend on an annualized basis and a dividend yield of 5.1%. Canadian Natural Resources’s dividend payout ratio is 45.53%.

About Canadian Natural Resources

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.