FDx Advisors Inc. Cuts Holdings in Canadian Natural Resources Limited (NYSE:CNQ)

FDx Advisors Inc. trimmed its holdings in shares of Canadian Natural Resources Limited (NYSE:CNQ) (TSE:CNQ) by 3.1% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 10,797 shares of the oil and gas producer’s stock after selling 350 shares during the period. FDx Advisors Inc.’s holdings in Canadian Natural Resources were worth $359,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. RFP Financial Group LLC raised its stake in shares of Canadian Natural Resources by 98.3% during the 2nd quarter. RFP Financial Group LLC now owns 710 shares of the oil and gas producer’s stock worth $25,000 after buying an additional 352 shares in the last quarter. Park Place Capital Corp raised its stake in shares of Canadian Natural Resources by 100.0% during the 2nd quarter. Park Place Capital Corp now owns 716 shares of the oil and gas producer’s stock worth $25,000 after buying an additional 358 shares in the last quarter. Sugarloaf Wealth Management LLC raised its stake in shares of Canadian Natural Resources by 100.0% during the 2nd quarter. Sugarloaf Wealth Management LLC now owns 728 shares of the oil and gas producer’s stock worth $26,000 after buying an additional 364 shares in the last quarter. Bruce G. Allen Investments LLC raised its stake in shares of Canadian Natural Resources by 91.6% during the 2nd quarter. Bruce G. Allen Investments LLC now owns 868 shares of the oil and gas producer’s stock worth $31,000 after buying an additional 415 shares in the last quarter. Finally, GAMMA Investing LLC raised its stake in shares of Canadian Natural Resources by 104.7% during the 2nd quarter. GAMMA Investing LLC now owns 874 shares of the oil and gas producer’s stock worth $31,000 after buying an additional 447 shares in the last quarter. 74.03% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on CNQ. StockNews.com cut Canadian Natural Resources from a “buy” rating to a “hold” rating in a report on Friday, August 23rd. Wolfe Research began coverage on Canadian Natural Resources in a report on Thursday, July 18th. They issued a “peer perform” rating on the stock. Finally, Desjardins upgraded Canadian Natural Resources from a “hold” rating to a “moderate buy” rating in a report on Tuesday, October 8th. Five analysts have rated the stock with a hold rating, Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $51.00.

Canadian Natural Resources Price Performance

Shares of NYSE:CNQ opened at $34.24 on Tuesday. The business’s fifty day moving average price is $34.51 and its two-hundred day moving average price is $35.63. The stock has a market cap of $72.37 billion, a PE ratio of 13.30 and a beta of 1.50. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.53 and a current ratio of 0.84. Canadian Natural Resources Limited has a one year low of $29.45 and a one year high of $41.29.

Canadian Natural Resources (NYSE:CNQ) (TSE:CNQ) last announced its 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 firm had revenue of $7.62 billion for the quarter, compared to analysts’ expectations of $6.40 billion. Canadian Natural Resources had a return on equity of 20.07% and a net margin of 18.45%. During the same quarter in the prior year, the firm earned $0.96 EPS. On average, analysts forecast that Canadian Natural Resources Limited will post 2.38 EPS for the current fiscal year.

Canadian Natural Resources Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 3rd. Shareholders of record on Friday, December 13th will be paid a dividend of $0.388 per share. This represents a $1.55 dividend on an annualized basis and a dividend yield of 4.53%. The ex-dividend date is Friday, December 13th. This is a positive change from Canadian Natural Resources’s previous quarterly dividend of $0.38. Canadian Natural Resources’s dividend payout ratio is currently 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).