Investment Management Associates Inc. ADV Raises Stock Position in Canadian Natural Resources Limited $CNQ

Investment Management Associates Inc. ADV increased its stake in Canadian Natural Resources Limited (NYSE:CNQ) (TSE:CNQ) by 2.2% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 331,125 shares of the oil and gas producer’s stock after purchasing an additional 7,019 shares during the quarter. Canadian Natural Resources accounts for 3.5% of Investment Management Associates Inc. ADV’s portfolio, making the stock its 13th largest position. Investment Management Associates Inc. ADV’s holdings in Canadian Natural Resources were worth $10,397,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also modified their holdings of CNQ. Ameritas Advisory Services LLC purchased a new position in shares of Canadian Natural Resources during the 2nd quarter worth $27,000. Investment Management Corp VA ADV boosted its stake in shares of Canadian Natural Resources by 158.3% during the 1st quarter. Investment Management Corp VA ADV now owns 997 shares of the oil and gas producer’s stock worth $31,000 after acquiring an additional 611 shares during the last quarter. Sierra Ocean LLC boosted its stake in shares of Canadian Natural Resources by 104.0% during the 1st quarter. Sierra Ocean LLC now owns 1,569 shares of the oil and gas producer’s stock worth $48,000 after acquiring an additional 800 shares during the last quarter. Geneos Wealth Management Inc. boosted its stake in shares of Canadian Natural Resources by 47.3% during the 1st quarter. Geneos Wealth Management Inc. now owns 1,644 shares of the oil and gas producer’s stock worth $51,000 after acquiring an additional 528 shares during the last quarter. Finally, Adirondack Trust Co. boosted its stake in shares of Canadian Natural Resources by 317.1% during the 2nd quarter. Adirondack Trust Co. now owns 1,710 shares of the oil and gas producer’s stock worth $54,000 after acquiring an additional 1,300 shares during the last quarter. Hedge funds and other institutional investors own 74.03% of the company’s stock.

Canadian Natural Resources Stock Up 2.6%

CNQ opened at $32.16 on Thursday. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.54 and a current ratio of 0.85. Canadian Natural Resources Limited has a fifty-two week low of $24.65 and a fifty-two week high of $35.03. The firm’s fifty day moving average is $31.51 and its 200 day moving average is $31.09. The stock has a market cap of $67.11 billion, a price-to-earnings ratio of 11.40 and a beta of 0.97.

Canadian Natural Resources (NYSE:CNQ) (TSE:CNQ) last released its earnings results on Thursday, August 7th. The oil and gas producer reported $0.51 earnings per share for the quarter, beating analysts’ consensus estimates of $0.44 by $0.07. Canadian Natural Resources had a net margin of 19.00% and a return on equity of 19.67%. The company had revenue of $6.39 billion for the quarter, compared to analysts’ expectations of $8.97 billion. During the same quarter in the previous year, the company earned $0.88 EPS. On average, sell-side analysts forecast that Canadian Natural Resources Limited will post 2.45 earnings per share for the current fiscal year.

Canadian Natural Resources Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, October 3rd. Shareholders of record on Friday, September 19th were issued a $0.4269 dividend. The ex-dividend date was Friday, September 19th. This represents a $1.71 dividend on an annualized basis and a yield of 5.3%. This is an increase from Canadian Natural Resources’s previous quarterly dividend of $0.42. Canadian Natural Resources’s payout ratio is presently 60.64%.

Analysts Set New Price Targets

Several brokerages have recently weighed in on CNQ. Weiss Ratings reiterated a “hold (c)” rating on shares of Canadian Natural Resources in a research note on Wednesday, October 8th. Royal Bank Of Canada reiterated an “outperform” rating and set a $62.00 price target on shares of Canadian Natural Resources in a research note on Wednesday, September 24th. Scotiabank reiterated an “outperform” rating on shares of Canadian Natural Resources in a research note on Thursday, October 9th. Zacks Research upgraded shares of Canadian Natural Resources from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, August 26th. Finally, Wells Fargo & Company upgraded shares of Canadian Natural Resources to a “hold” rating in a research note on Thursday, October 16th. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat, Canadian Natural Resources has a consensus rating of “Moderate Buy” and an average price target of $62.00.

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).