Tidal Investments LLC Boosts Holdings in Canadian Natural Resources Limited (NYSE:CNQ)

Tidal Investments LLC raised its stake in shares of Canadian Natural Resources Limited (NYSE:CNQ) (TSE:CNQ) by 55.0% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 26,832 shares of the oil and gas producer’s stock after acquiring an additional 9,526 shares during the period. Tidal Investments LLC’s holdings in Canadian Natural Resources were worth $891,000 as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of the stock. Moloney Securities Asset Management LLC grew its holdings in Canadian Natural Resources by 5.4% during the third quarter. Moloney Securities Asset Management LLC now owns 7,302 shares of the oil and gas producer’s stock worth $242,000 after acquiring an additional 376 shares during the period. Measured Wealth Private Client Group LLC grew its stake in shares of Canadian Natural Resources by 4.1% during the 3rd quarter. Measured Wealth Private Client Group LLC now owns 10,158 shares of the oil and gas producer’s stock worth $337,000 after purchasing an additional 404 shares during the period. Kingsview Wealth Management LLC increased its holdings in shares of Canadian Natural Resources by 4.9% during the 3rd quarter. Kingsview Wealth Management LLC now owns 9,018 shares of the oil and gas producer’s stock valued at $300,000 after purchasing an additional 419 shares in the last quarter. Pitcairn Co. boosted its holdings in Canadian Natural Resources by 1.3% during the third quarter. Pitcairn Co. now owns 36,390 shares of the oil and gas producer’s stock worth $1,209,000 after buying an additional 475 shares in the last quarter. Finally, Continuum Advisory LLC boosted its holdings in Canadian Natural Resources by 144.1% during the third quarter. Continuum Advisory LLC now owns 830 shares of the oil and gas producer’s stock worth $28,000 after buying an additional 490 shares in the last quarter. Hedge funds and other institutional investors own 74.03% of the company’s stock.

Canadian Natural Resources Price Performance

Shares of NYSE CNQ opened at $29.58 on Friday. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.53 and a current ratio of 0.84. The firm has a fifty day moving average of $33.66 and a 200 day moving average of $34.55. The firm has a market cap of $62.32 billion, a PE ratio of 11.49 and a beta of 1.47. Canadian Natural Resources Limited has a one year low of $29.23 and a one year high of $41.29.

Canadian Natural Resources (NYSE:CNQ) (TSE:CNQ) last announced its earnings results on Thursday, October 31st. The oil and gas producer reported $0.97 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.67 by $0.30. Canadian Natural Resources had a net margin of 18.45% and a return on equity of 20.07%. The business had revenue of $7.62 billion for the quarter, compared to analyst estimates of $6.40 billion. During the same quarter last year, the business earned $0.96 earnings per share. As a group, research analysts predict that Canadian Natural Resources Limited will post 2.47 EPS for the current fiscal year.

Canadian Natural Resources Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 3rd. Shareholders of record on Friday, December 13th will be paid a dividend of $0.388 per share. This is a positive change from Canadian Natural Resources’s previous quarterly dividend of $0.38. This represents a $1.55 annualized dividend and a yield of 5.25%. The ex-dividend date is Friday, December 13th. Canadian Natural Resources’s payout ratio is 64.59%.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on CNQ shares. StockNews.com downgraded shares of Canadian Natural Resources from a “buy” rating to a “hold” rating in a research report on Friday, August 23rd. Desjardins raised Canadian Natural Resources from a “hold” rating to a “moderate buy” rating in a report on Tuesday, October 8th. Five analysts have rated the stock with a hold rating, Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $51.00.

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).