Corient Private Wealth LLC Sells 16,591 Shares of Canadian Natural Resources Limited $CNQ

Corient Private Wealth LLC trimmed its holdings in shares of Canadian Natural Resources Limited (NYSE:CNQ) (TSE:CNQ) by 3.3% in the second quarter, Holdings Channel.com reports. The firm owned 481,842 shares of the oil and gas producer’s stock after selling 16,591 shares during the quarter. Corient Private Wealth LLC’s holdings in Canadian Natural Resources were worth $15,130,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Ameritas Advisory Services LLC bought a new position in Canadian Natural Resources during the 2nd quarter worth about $27,000. Addison Advisors LLC lifted its holdings in shares of Canadian Natural Resources by 309.1% in the second quarter. Addison Advisors LLC now owns 896 shares of the oil and gas producer’s stock valued at $28,000 after purchasing an additional 677 shares in the last quarter. Geneos Wealth Management Inc. boosted its position in shares of Canadian Natural Resources by 47.3% during the first quarter. Geneos Wealth Management Inc. now owns 1,644 shares of the oil and gas producer’s stock worth $51,000 after buying an additional 528 shares during the period. Adirondack Trust Co. grew its holdings in shares of Canadian Natural Resources by 317.1% during the second quarter. Adirondack Trust Co. now owns 1,710 shares of the oil and gas producer’s stock worth $54,000 after buying an additional 1,300 shares in the last quarter. Finally, Bruce G. Allen Investments LLC grew its holdings in shares of Canadian Natural Resources by 116.7% during the second quarter. Bruce G. Allen Investments LLC now owns 1,788 shares of the oil and gas producer’s stock worth $56,000 after buying an additional 963 shares in the last quarter. 74.03% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on CNQ shares. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Canadian Natural Resources in a research report on Wednesday, October 8th. Desjardins cut shares of Canadian Natural Resources from a “buy” rating to a “hold” rating in a report on Monday, November 24th. Wells Fargo & Company raised shares of Canadian Natural Resources to a “hold” rating in a research report on Thursday, October 16th. Royal Bank Of Canada reiterated an “outperform” rating and issued a $62.00 price target on shares of Canadian Natural Resources in a research note on Wednesday, September 24th. Finally, TD Securities restated a “buy” rating on shares of Canadian Natural Resources in a research note on Tuesday, September 30th. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $62.00.

Canadian Natural Resources Price Performance

NYSE:CNQ opened at $31.52 on Friday. Canadian Natural Resources Limited has a 12-month low of $24.65 and a 12-month high of $35.12. The firm has a market capitalization of $65.65 billion, a price-to-earnings ratio of 13.95 and a beta of 0.70. The stock’s 50 day moving average price is $32.38 and its two-hundred day moving average price is $31.87. The company has a quick ratio of 0.53, a current ratio of 0.86 and a debt-to-equity ratio of 0.41.

Canadian Natural Resources (NYSE:CNQ) (TSE:CNQ) last posted its quarterly earnings results on Thursday, November 6th. The oil and gas producer reported $0.62 earnings per share for the quarter, beating analysts’ consensus estimates of $0.54 by $0.08. Canadian Natural Resources had a return on equity of 18.93% and a net margin of 14.90%.The business had revenue of $6.79 billion for the quarter, compared to analysts’ expectations of $6.81 billion. During the same quarter in the prior year, the business earned $0.97 EPS. On average, analysts anticipate that Canadian Natural Resources Limited will post 2.45 earnings per share for the current year.

Canadian Natural Resources Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, January 6th. Investors of record on Friday, December 12th will be issued a dividend of $0.5875 per share. This represents a $2.35 annualized dividend and a dividend yield of 7.5%. The ex-dividend date of this dividend is Friday, December 12th. This is a positive change from Canadian Natural Resources’s previous quarterly dividend of $0.43. Canadian Natural Resources’s payout ratio is presently 74.34%.

Canadian Natural Resources Company 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).