GeoSphere Capital Management LLC lessened its holdings in shares of Canadian Natural Resources Ltd (NYSE:CNQ) (TSE:CNQ) by 21.7% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 30,000 shares of the oil and gas producer’s stock after selling 8,301 shares during the period. Canadian Natural Resources accounts for about 2.6% of GeoSphere Capital Management LLC’s investment portfolio, making the stock its 8th biggest holding. GeoSphere Capital Management LLC’s holdings in Canadian Natural Resources were worth $809,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also added to or reduced their stakes in CNQ. Zions Bancorporation N.A. bought a new stake in Canadian Natural Resources during the first quarter worth approximately $28,000. Icon Wealth Partners LLC acquired a new position in Canadian Natural Resources during the 1st quarter worth $28,000. Bremer Bank National Association acquired a new position in Canadian Natural Resources during the 1st quarter worth $34,000. Huntington National Bank lifted its position in Canadian Natural Resources by 348.8% during the 2nd quarter. Huntington National Bank now owns 1,333 shares of the oil and gas producer’s stock worth $36,000 after acquiring an additional 1,036 shares during the last quarter. Finally, Cornerstone Advisors Inc. lifted its position in Canadian Natural Resources by 245.3% during the 1st quarter. Cornerstone Advisors Inc. now owns 1,806 shares of the oil and gas producer’s stock worth $50,000 after acquiring an additional 1,283 shares during the last quarter. 65.10% of the stock is currently owned by institutional investors.
A number of research analysts have weighed in on the stock. Credit Suisse Group set a $48.00 target price on shares of Canadian Natural Resources and gave the stock a “buy” rating in a research report on Tuesday. Zacks Investment Research lowered shares of Canadian Natural Resources from a “buy” rating to a “hold” rating and set a $28.00 price objective for the company. in a research report on Monday, July 22nd. Wells Fargo & Co lowered shares of Canadian Natural Resources from a “market perform” rating to an “underperform” rating in a research report on Friday, September 6th. CIBC reaffirmed a “buy” rating and set a $48.00 price objective on shares of Canadian Natural Resources in a research report on Sunday, August 4th. Finally, Goldman Sachs Group reissued a “neutral” rating on shares of Canadian Natural Resources in a research note on Monday, July 22nd. One research analyst has rated the stock with a sell rating, six have given a hold rating and thirteen have given a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus target price of $41.88.
Shares of CNQ stock traded up $0.08 during trading hours on Friday, reaching $25.43. 527,377 shares of the company were exchanged, compared to its average volume of 2,587,146. Canadian Natural Resources Ltd has a fifty-two week low of $21.85 and a fifty-two week high of $33.86. The stock’s fifty day moving average is $23.97 and its two-hundred day moving average is $26.83. The company has a market cap of $30.39 billion, a price-to-earnings ratio of 11.83, a P/E/G ratio of 1.51 and a beta of 1.16. The company has a debt-to-equity ratio of 0.57, a current ratio of 0.59 and a quick ratio of 0.44.
Canadian Natural Resources (NYSE:CNQ) (TSE:CNQ) last announced its earnings results on Thursday, August 1st. The oil and gas producer reported $0.87 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.62 by $0.25. Canadian Natural Resources had a net margin of 22.22% and a return on equity of 8.62%. The company had revenue of $4.16 billion for the quarter, compared to analyst estimates of $4.36 billion. During the same period in the prior year, the business earned $1.04 earnings per share. On average, research analysts anticipate that Canadian Natural Resources Ltd will post 2.38 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Friday, September 13th will be issued a $0.284 dividend. This is a positive change from Canadian Natural Resources’s previous quarterly dividend of $0.28. This represents a $1.14 annualized dividend and a yield of 4.47%. The ex-dividend date is Thursday, September 12th. Canadian Natural Resources’s dividend payout ratio is currently 51.63%.
Canadian Natural Resources Company Profile
Canadian Natural Resources Limited explores for, develops, produces, and markets crude oil, natural gas, and natural gas liquids (NGLs). The company offers synthetic crude oil (SCO), light and medium crude oil, bitumen (thermal oil), primary heavy crude oil, and Pelican Lake heavy crude oil. Its midstream assets include two crude oil pipeline systems; and a 50% working interest in an 84-megawatt cogeneration plant at Primrose.
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