Code Waechter LLC Makes New $593,000 Investment in Canadian Natural Resources Limited (NYSE:CNQ)

Code Waechter LLC bought a new stake in Canadian Natural Resources Limited (NYSE:CNQ) (TSE:CNQ) in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 17,856 shares of the oil and gas producer’s stock, valued at approximately $593,000.

Several other hedge funds and other institutional investors have also modified their holdings of CNQ. Peak Financial Advisors LLC lifted its stake in Canadian Natural Resources by 0.8% in the 3rd quarter. Peak Financial Advisors LLC now owns 77,702 shares of the oil and gas producer’s stock worth $2,580,000 after acquiring an additional 630 shares in the last quarter. Pacifica Partners Inc. lifted its position in Canadian Natural Resources by 0.4% in the 3rd quarter. Pacifica Partners Inc. now owns 174,851 shares of the oil and gas producer’s stock worth $5,817,000 after buying an additional 755 shares in the last quarter. Fulton Bank N.A. boosted its stake in shares of Canadian Natural Resources by 5.7% during the 3rd quarter. Fulton Bank N.A. now owns 11,044 shares of the oil and gas producer’s stock valued at $367,000 after buying an additional 593 shares during the period. Value Partners Investments Inc. grew its holdings in shares of Canadian Natural Resources by 11.1% during the 3rd quarter. Value Partners Investments Inc. now owns 26,746 shares of the oil and gas producer’s stock valued at $888,000 after acquiring an additional 2,663 shares in the last quarter. Finally, Azzad Asset Management Inc. ADV increased its stake in shares of Canadian Natural Resources by 1.3% in the third quarter. Azzad Asset Management Inc. ADV now owns 102,667 shares of the oil and gas producer’s stock worth $3,410,000 after acquiring an additional 1,270 shares during the last quarter. Institutional investors and hedge funds own 74.03% of the company’s stock.

Canadian Natural Resources Stock Up 0.4 %

Shares of NYSE CNQ traded up $0.15 during mid-day trading on Friday, reaching $37.60. 5,422,992 shares of the company traded hands, compared to its average volume of 5,528,306. The company’s fifty day moving average is $34.80 and its two-hundred day moving average is $36.25. Canadian Natural Resources Limited has a fifty-two week low of $29.45 and a fifty-two week high of $41.29. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.59 and a current ratio of 0.88. The stock has a market cap of $80.01 billion, a PE ratio of 14.98 and a beta of 1.50.

Canadian Natural Resources (NYSE:CNQ) (TSE:CNQ) last released its quarterly earnings results on Thursday, August 1st. The oil and gas producer reported $0.88 EPS for the quarter, beating analysts’ consensus estimates of $0.62 by $0.26. Canadian Natural Resources had a net margin of 18.05% and a return on equity of 22.09%. The company had revenue of $7.76 billion for the quarter, compared to analyst estimates of $6.19 billion. During the same quarter last year, the firm posted $0.43 earnings per share. On average, analysts expect that Canadian Natural Resources Limited will post 2.5 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 Friday, January 3rd. Stockholders of record on Friday, December 13th will be given a $0.388 dividend. This is an increase from Canadian Natural Resources’s previous quarterly dividend of $0.38. This represents a $1.55 annualized dividend and a dividend yield of 4.13%. The ex-dividend date is Friday, December 13th. Canadian Natural Resources’s dividend payout ratio (DPR) is currently 66.14%.

Analyst Ratings Changes

A number of analysts recently issued reports on CNQ shares. Desjardins raised Canadian Natural Resources from a “hold” rating to a “moderate buy” rating in a research report on Tuesday. StockNews.com downgraded Canadian Natural Resources from a “buy” rating to a “hold” rating in a report on Friday, August 23rd. Finally, Wolfe Research started coverage on shares of Canadian Natural Resources in a research report on Thursday, July 18th. They set a “peer perform” rating on the stock. Five equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company. Based on data from MarketBeat.com, Canadian Natural Resources currently has a consensus rating of “Hold” and an average target price of $49.50.

About Canadian Natural Resources

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).