Algert Global LLC Takes Position in Canadian Natural Resources Limited (NYSE:CNQ)

Algert Global LLC purchased a new stake in Canadian Natural Resources Limited (NYSE:CNQ) (TSE:CNQ) in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 45,718 shares of the oil and gas producer’s stock, valued at approximately $1,520,000.

Several other large investors have also modified their holdings of CNQ. Tidal Investments LLC raised its holdings in shares of Canadian Natural Resources by 59.9% in the 1st quarter. Tidal Investments LLC now owns 10,245 shares of the oil and gas producer’s stock valued at $782,000 after purchasing an additional 3,837 shares in the last quarter. Atria Investments Inc bought a new stake in shares of Canadian Natural Resources in the 1st quarter valued at about $1,006,000. Cetera Investment Advisers raised its holdings in shares of Canadian Natural Resources by 305.4% in the 1st quarter. Cetera Investment Advisers now owns 36,858 shares of the oil and gas producer’s stock valued at $2,813,000 after purchasing an additional 27,766 shares in the last quarter. Cetera Advisors LLC raised its holdings in shares of Canadian Natural Resources by 61.7% in the 1st quarter. Cetera Advisors LLC now owns 19,821 shares of the oil and gas producer’s stock valued at $1,513,000 after purchasing an additional 7,565 shares in the last quarter. Finally, DekaBank Deutsche Girozentrale raised its stake in shares of Canadian Natural Resources by 10.0% during the 1st quarter. DekaBank Deutsche Girozentrale now owns 1,400,616 shares of the oil and gas producer’s stock worth $105,543,000 after acquiring an additional 127,549 shares in the last quarter. Institutional investors own 74.03% of the company’s stock.

Canadian Natural Resources Trading Up 1.0 %

Shares of Canadian Natural Resources stock opened at $33.52 on Friday. The company has a current ratio of 0.84, a quick ratio of 0.53 and a debt-to-equity ratio of 0.21. Canadian Natural Resources Limited has a 12-month low of $29.45 and a 12-month high of $41.29. The firm has a market capitalization of $70.74 billion, a price-to-earnings ratio of 13.02 and a beta of 1.50. The firm’s 50 day simple moving average is $34.64 and its two-hundred day simple moving average is $35.24.

Canadian Natural Resources (NYSE:CNQ) (TSE:CNQ) last issued its quarterly earnings results on Thursday, October 31st. The oil and gas producer reported $0.97 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 business had revenue of $7.62 billion for the quarter, compared to analyst estimates of $6.40 billion. During the same quarter in the prior year, the business posted $0.96 EPS. Analysts predict that Canadian Natural Resources Limited will post 2.47 EPS for the current year.

Canadian Natural Resources Increases Dividend

The business 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 is a positive change from Canadian Natural Resources’s previous quarterly dividend of $0.38. The ex-dividend date of this dividend is Friday, December 13th. This represents a $1.55 dividend on an annualized basis and a yield of 4.63%. Canadian Natural Resources’s dividend payout ratio is presently 60.58%.

Analyst Upgrades and Downgrades

Several research firms recently commented on CNQ. Desjardins upgraded shares of Canadian Natural Resources from a “hold” rating to a “moderate buy” rating in a research note on Tuesday, October 8th. 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 equities research analysts have rated the stock with a hold rating, Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $51.00.

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).