Tidal Investments LLC Increases Position in Canadian Natural Resources Limited (NYSE:CNQ)

Tidal Investments LLC increased its stake in shares of Canadian Natural Resources Limited (NYSE:CNQ) (TSE:CNQ) by 55.0% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 26,832 shares of the oil and gas producer’s stock after purchasing an additional 9,526 shares during the quarter. Tidal Investments LLC’s holdings in Canadian Natural Resources were worth $891,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Wealth Enhancement Advisory Services LLC lifted its position in shares of Canadian Natural Resources by 294.3% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 18,418 shares of the oil and gas producer’s stock valued at $656,000 after buying an additional 13,747 shares during the last quarter. Nisa Investment Advisors LLC purchased a new stake in Canadian Natural Resources during the second quarter valued at approximately $41,000. Spirit of America Management Corp NY boosted its stake in Canadian Natural Resources by 100.0% in the second quarter. Spirit of America Management Corp NY now owns 4,000 shares of the oil and gas producer’s stock valued at $142,000 after acquiring an additional 2,000 shares in the last quarter. Calamos Wealth Management LLC grew its holdings in Canadian Natural Resources by 116.6% in the second quarter. Calamos Wealth Management LLC now owns 28,575 shares of the oil and gas producer’s stock worth $1,017,000 after purchasing an additional 15,383 shares during the last quarter. Finally, Raymond James Trust N.A. increased its position in shares of Canadian Natural Resources by 179.6% during the second quarter. Raymond James Trust N.A. now owns 34,674 shares of the oil and gas producer’s stock worth $1,234,000 after purchasing an additional 22,274 shares in the last quarter. Institutional investors own 74.03% of the company’s stock.

Canadian Natural Resources Price Performance

Shares of CNQ opened at $29.58 on Friday. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.84 and a quick ratio of 0.53. The company’s fifty day moving average price is $33.66 and its 200-day moving average price is $34.55. Canadian Natural Resources Limited has a 1-year low of $29.23 and a 1-year high of $41.29. The firm has a market capitalization of $62.32 billion, a PE ratio of 11.49 and a beta of 1.47.

Canadian Natural Resources (NYSE:CNQ) (TSE:CNQ) last posted its quarterly earnings results on Thursday, October 31st. The oil and gas producer reported $0.97 earnings per share for the quarter, beating the consensus estimate of $0.67 by $0.30. Canadian Natural Resources had a return on equity of 20.07% and a net margin of 18.45%. The business had revenue of $7.62 billion for the quarter, compared to the consensus estimate of $6.40 billion. During the same quarter in the previous year, the business earned $0.96 EPS. On average, equities research analysts predict that Canadian Natural Resources Limited will post 2.47 EPS 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. Investors of record on Friday, December 13th will be issued a $0.388 dividend. This represents a $1.55 annualized dividend and a yield of 5.25%. The ex-dividend date of this dividend is Friday, December 13th. This is an increase from Canadian Natural Resources’s previous quarterly dividend of $0.38. Canadian Natural Resources’s dividend payout ratio is 64.59%.

Analyst Ratings Changes

CNQ has been the subject of a number of recent analyst reports. Desjardins raised Canadian Natural Resources from a “hold” rating to a “moderate buy” rating in a research report on Tuesday, October 8th. StockNews.com downgraded Canadian Natural Resources from a “buy” rating to a “hold” rating in a report on Friday, August 23rd. Five research analysts have rated the stock with a hold rating, Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price 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).