Klein Pavlis & Peasley Financial Inc. Acquires 4,018 Shares of Canadian Natural Resources Limited (NYSE:CNQ)

Klein Pavlis & Peasley Financial Inc. boosted its position in shares of Canadian Natural Resources Limited (NYSE:CNQ) (TSE:CNQ) by 14.8% in the third quarter, Holdings Channel reports. The fund owned 31,240 shares of the oil and gas producer’s stock after purchasing an additional 4,018 shares during the quarter. Klein Pavlis & Peasley Financial Inc.’s holdings in Canadian Natural Resources were worth $1,037,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently bought and sold shares of the company. Canoe Financial LP increased its position in Canadian Natural Resources by 226.0% during the third quarter. Canoe Financial LP now owns 1,549,610 shares of the oil and gas producer’s stock valued at $51,469,000 after acquiring an additional 1,074,199 shares during the last quarter. Farrow Financial Inc. increased its position in Canadian Natural Resources by 3.5% during the third quarter. Farrow Financial Inc. now owns 55,279 shares of the oil and gas producer’s stock valued at $1,836,000 after acquiring an additional 1,847 shares during the last quarter. Arkadios Wealth Advisors purchased a new stake in Canadian Natural Resources during the third quarter valued at $551,000. Mraz Amerine & Associates Inc. increased its position in Canadian Natural Resources by 4.2% during the third quarter. Mraz Amerine & Associates Inc. now owns 175,277 shares of the oil and gas producer’s stock valued at $5,821,000 after acquiring an additional 6,995 shares during the last quarter. Finally, Dakota Wealth Management increased its position in Canadian Natural Resources by 8.7% in the third quarter. Dakota Wealth Management now owns 168,107 shares of the oil and gas producer’s stock worth $5,583,000 after buying an additional 13,518 shares in the last quarter. Hedge funds and other institutional investors own 74.03% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have commented on CNQ shares. StockNews.com cut Canadian Natural Resources from a “buy” rating to a “hold” rating in a research report on Friday, August 23rd. Wolfe Research initiated coverage on Canadian Natural Resources in a research report on Thursday, July 18th. They issued a “peer perform” rating for the company. Finally, Desjardins upgraded Canadian Natural Resources from a “hold” rating to a “moderate buy” rating in a research report on Tuesday, October 8th. Five analysts have rated the stock with a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $49.50.

Canadian Natural Resources Stock Performance

NYSE:CNQ opened at $35.55 on Monday. The stock has a 50-day moving average price of $34.92 and a 200 day moving average price of $35.95. Canadian Natural Resources Limited has a 12-month low of $29.45 and a 12-month high of $41.29. The stock has a market capitalization of $75.65 billion, a P/E ratio of 14.16 and a beta of 1.50. The company has a current ratio of 0.88, a quick ratio of 0.59 and a debt-to-equity ratio of 0.24.

Canadian Natural Resources (NYSE:CNQ) (TSE:CNQ) last announced 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 return on equity of 22.09% and a net margin of 18.05%. The company had revenue of $7.76 billion during the quarter, compared to analyst estimates of $6.19 billion. During the same period in the prior year, the company earned $0.43 earnings per share. Equities research analysts forecast that Canadian Natural Resources Limited will post 2.5 EPS for the current fiscal year.

Canadian Natural Resources Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 3rd. Stockholders of record on Friday, December 13th will be paid a $0.388 dividend. This represents a $1.55 annualized dividend and a dividend yield of 4.37%. This is a positive change from Canadian Natural Resources’s previous quarterly dividend of $0.38. The ex-dividend date of this dividend is Friday, December 13th. Canadian Natural Resources’s dividend payout ratio (DPR) is presently 66.14%.

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).