Verity & Verity LLC Purchases Shares of 265,552 Canadian Natural Resources Limited (NYSE:CNQ)

Verity & Verity LLC bought a new position in Canadian Natural Resources Limited (NYSE:CNQ) (TSE:CNQ) during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 265,552 shares of the oil and gas producer’s stock, valued at approximately $8,819,000.

Several other large investors also recently modified their holdings of CNQ. Lighthouse Investment Partners LLC purchased a new position in shares of Canadian Natural Resources during the second quarter valued at approximately $890,000. Canoe Financial LP grew its position in shares of Canadian Natural Resources by 226.0% during the 3rd 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 period. Aigen Investment Management LP grew its position in shares of Canadian Natural Resources by 123.0% during the 3rd quarter. Aigen Investment Management LP now owns 54,323 shares of the oil and gas producer’s stock valued at $1,804,000 after acquiring an additional 29,961 shares during the period. Capital Wealth Planning LLC boosted its holdings in Canadian Natural Resources by 228.5% in the 2nd quarter. Capital Wealth Planning LLC now owns 91,652 shares of the oil and gas producer’s stock worth $3,263,000 after buying an additional 63,756 shares during the period. Finally, Souders Financial Advisors boosted its holdings in Canadian Natural Resources by 103.0% in the 2nd quarter. Souders Financial Advisors now owns 99,999 shares of the oil and gas producer’s stock worth $3,560,000 after buying an additional 50,744 shares during the period. 74.03% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several brokerages have recently issued reports on CNQ. StockNews.com cut shares of Canadian Natural Resources from a “buy” rating to a “hold” rating in a research report on Friday, August 23rd. Desjardins upgraded shares of Canadian Natural Resources from a “hold” rating to a “moderate buy” rating in a research note on Tuesday, October 8th. Five investment analysts have rated the stock with a hold rating, According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $51.00.

Canadian Natural Resources Stock Up 1.7 %

Shares of NYSE CNQ opened at $33.66 on Tuesday. The company has a 50-day moving average of $34.44 and a 200 day moving average of $35.44. Canadian Natural Resources Limited has a 12-month low of $29.45 and a 12-month high of $41.29. The company has a current ratio of 0.84, a quick ratio of 0.53 and a debt-to-equity ratio of 0.21. The stock has a market cap of $71.04 billion, a PE ratio of 13.07 and a beta of 1.50.

Canadian Natural Resources (NYSE:CNQ) (TSE:CNQ) last released its earnings results on Thursday, October 31st. The oil and gas producer reported $0.97 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.67 by $0.30. The company had revenue of $7.62 billion for the quarter, compared to analyst estimates of $6.40 billion. Canadian Natural Resources had a net margin of 18.45% and a return on equity of 20.07%. During the same period in the prior year, the business earned $0.96 EPS. As a group, sell-side analysts predict that Canadian Natural Resources Limited will post 2.44 EPS for the current fiscal year.

Canadian Natural Resources Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 3rd. Shareholders of record on Friday, December 13th will be given a dividend of $0.388 per share. This is an increase from Canadian Natural Resources’s previous quarterly dividend of $0.38. This represents a $1.55 annualized dividend and a yield of 4.61%. The ex-dividend date of this dividend is Friday, December 13th. Canadian Natural Resources’s dividend payout ratio (DPR) is presently 60.58%.

Canadian Natural Resources 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).