Equitable Trust Co. Trims Stock Position in Canadian Natural Resources Limited (NYSE:CNQ)

Equitable Trust Co. trimmed its stake in Canadian Natural Resources Limited (NYSE:CNQ) (TSE:CNQ) by 1.2% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 64,198 shares of the oil and gas producer’s stock after selling 748 shares during the period. Equitable Trust Co.’s holdings in Canadian Natural Resources were worth $2,132,000 as of its most recent SEC filing.

A number of other large investors have also recently modified their holdings of CNQ. RFP Financial Group LLC lifted its position in 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 valued at $25,000 after acquiring an additional 352 shares during the period. Park Place Capital Corp increased its stake in shares of Canadian Natural Resources by 100.0% during the second quarter. Park Place Capital Corp now owns 716 shares of the oil and gas producer’s stock valued at $25,000 after purchasing an additional 358 shares in the last quarter. Sugarloaf Wealth Management LLC lifted its holdings in shares of Canadian Natural Resources by 100.0% during the second quarter. Sugarloaf Wealth Management LLC now owns 728 shares of the oil and gas producer’s stock valued at $26,000 after purchasing an additional 364 shares during the last quarter. Bruce G. Allen Investments LLC boosted its position in shares of Canadian Natural Resources by 91.6% in the 2nd quarter. Bruce G. Allen Investments LLC now owns 868 shares of the oil and gas producer’s stock worth $31,000 after purchasing an additional 415 shares in the last quarter. Finally, GAMMA Investing LLC grew its stake in shares of Canadian Natural Resources by 104.7% in 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 during the last quarter. Institutional investors own 74.03% of the company’s stock.

Canadian Natural Resources Stock Performance

Shares of CNQ opened at $34.17 on Friday. The firm has a market capitalization of $72.22 billion, a P/E ratio of 13.27 and a beta of 1.50. 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 one year low of $29.45 and a one year high of $41.29. The business has a fifty day moving average of $34.51 and a 200 day moving average of $35.67.

Canadian Natural Resources (NYSE:CNQ) (TSE:CNQ) last released its quarterly earnings results on Thursday, October 31st. The oil and gas producer reported $0.97 EPS for the quarter, beating the consensus estimate of $0.67 by $0.30. Canadian Natural Resources had a net margin of 18.45% and a return on equity of 20.07%. The firm had revenue of $7.62 billion during the quarter, compared to analyst estimates of $6.40 billion. During the same quarter in the prior year, the firm earned $0.96 EPS. As a group, sell-side analysts anticipate that Canadian Natural Resources Limited will post 2.38 EPS for the current year.

Canadian Natural Resources Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 3rd. Stockholders of record on Friday, December 13th will be paid a $0.388 dividend. The ex-dividend date of this dividend is Friday, December 13th. This represents a $1.55 annualized dividend and a dividend yield of 4.54%. This is an increase from Canadian Natural Resources’s previous quarterly dividend of $0.38. Canadian Natural Resources’s dividend payout ratio (DPR) is 60.58%.

Analyst Ratings Changes

Several research firms have commented on CNQ. Wolfe Research initiated coverage on Canadian Natural Resources in a report on Thursday, July 18th. They issued a “peer perform” rating on the stock. Desjardins upgraded shares of Canadian Natural Resources from a “hold” rating to a “moderate buy” rating in a research note on Tuesday, October 8th. Finally, StockNews.com lowered shares of Canadian Natural Resources from a “buy” rating to a “hold” rating in a research note on Friday, August 23rd. Five investment analysts have rated the stock with a hold rating, Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $51.00.

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).