Code Waechter LLC Purchases 688 Shares of Canadian Natural Resources Limited (NYSE:CNQ)

Code Waechter LLC raised its position in shares of Canadian Natural Resources Limited (NYSE:CNQ) (TSE:CNQ) by 3.9% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 18,544 shares of the oil and gas producer’s stock after purchasing an additional 688 shares during the period. Code Waechter LLC’s holdings in Canadian Natural Resources were worth $572,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in CNQ. Rhumbline Advisers lifted its position in Canadian Natural Resources by 83.4% in the 2nd quarter. Rhumbline Advisers now owns 4,709 shares of the oil and gas producer’s stock worth $168,000 after buying an additional 2,141 shares during the last quarter. Private Advisor Group LLC raised its stake in shares of Canadian Natural Resources by 136.3% during the second quarter. Private Advisor Group LLC now owns 20,474 shares of the oil and gas producer’s stock worth $729,000 after acquiring an additional 11,808 shares in the last quarter. American Century Companies Inc. lifted its holdings in shares of Canadian Natural Resources by 101.3% in the 2nd quarter. American Century Companies Inc. now owns 675,293 shares of the oil and gas producer’s stock worth $24,054,000 after acquiring an additional 339,896 shares during the last quarter. BOKF NA boosted its stake in shares of Canadian Natural Resources by 316.2% in the 2nd quarter. BOKF NA now owns 3,138 shares of the oil and gas producer’s stock valued at $112,000 after purchasing an additional 2,384 shares in the last quarter. Finally, Federated Hermes Inc. grew its holdings in shares of Canadian Natural Resources by 157.4% during the 2nd quarter. Federated Hermes Inc. now owns 8,352 shares of the oil and gas producer’s stock valued at $297,000 after purchasing an additional 5,107 shares during the last quarter. Institutional investors own 74.03% of the company’s stock.

Canadian Natural Resources Price Performance

CNQ opened at $31.60 on Tuesday. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.84 and a quick ratio of 0.53. Canadian Natural Resources Limited has a 1 year low of $29.23 and a 1 year high of $41.29. The stock’s 50 day simple moving average is $32.45 and its 200 day simple moving average is $34.12. The firm has a market cap of $66.57 billion, a price-to-earnings ratio of 12.27 and a beta of 1.46.

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 EPS for the quarter, beating analysts’ consensus estimates of $0.67 by $0.30. The company had revenue of $7.62 billion during 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 posted $0.96 EPS. As a group, analysts predict that Canadian Natural Resources Limited will post 2.47 earnings per share for the current year.

Analyst Ratings Changes

Separately, Desjardins raised shares of Canadian Natural Resources from a “hold” rating to a “moderate buy” rating in a research note on Tuesday, October 8th. Four equities research analysts have rated the stock with a hold rating, Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold”.

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).