Opal Wealth Advisors LLC Makes New Investment in Canadian Natural Resources Limited (NYSE:CNQ)

Opal Wealth Advisors LLC acquired a new stake in shares of Canadian Natural Resources Limited (NYSE:CNQ) (TSE:CNQ) during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 1,812 shares of the oil and gas producer’s stock, valued at approximately $56,000.

Several other institutional investors and hedge funds have also recently modified their holdings of CNQ. Duncker Streett & Co. Inc. bought a new stake in shares of Canadian Natural Resources during the fourth quarter valued at approximately $25,000. Lee Danner & Bass Inc. bought a new stake in shares of Canadian Natural Resources during the fourth quarter valued at approximately $25,000. Sandy Spring Bank bought a new stake in shares of Canadian Natural Resources during the fourth quarter valued at approximately $31,000. CoreFirst Bank & Trust bought a new stake in shares of Canadian Natural Resources during the fourth quarter valued at approximately $31,000. Finally, Hurley Capital LLC bought a new stake in shares of Canadian Natural Resources during the fourth quarter valued at approximately $31,000. Institutional investors own 74.03% of the company’s stock.

Canadian Natural Resources Trading Up 2.0%

Shares of CNQ opened at $33.79 on Monday. The company’s fifty day moving average is $29.91 and its 200 day moving average is $30.30. Canadian Natural Resources Limited has a fifty-two week low of $24.65 and a fifty-two week high of $37.91. The stock has a market capitalization of $70.67 billion, a PE ratio of 13.12 and a beta of 1.03. 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 (NYSE:CNQ) (TSE:CNQ) last posted its quarterly earnings data on Thursday, May 8th. The oil and gas producer reported $0.81 EPS for the quarter, topping the consensus estimate of $0.73 by $0.08. The company had revenue of $6.96 billion during the quarter, compared to analyst estimates of $10.14 billion. Canadian Natural Resources had a net margin of 18.45% and a return on equity of 20.07%. During the same period in the previous year, the firm earned $1.37 earnings per share. Sell-side analysts expect that Canadian Natural Resources Limited will post 2.45 earnings per share for the current fiscal year.

Canadian Natural Resources Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, July 3rd. Shareholders of record on Friday, June 13th will be paid a dividend of $0.4227 per share. This represents a $1.69 annualized dividend and a yield of 5.00%. This is a positive change from Canadian Natural Resources’s previous quarterly dividend of $0.41. The ex-dividend date of this dividend is Friday, June 13th. Canadian Natural Resources’s payout ratio is presently 67.06%.

Analysts Set New Price Targets

Several research firms have recently issued reports on CNQ. Scotiabank upgraded shares of Canadian Natural Resources from a “sector perform” rating to a “sector outperform” rating in a research report on Wednesday, March 19th. Royal Bank of Canada restated an “outperform” rating and issued a $63.00 price target on shares of Canadian Natural Resources in a research report on Thursday, March 27th. Raymond James upgraded shares of Canadian Natural Resources from a “market perform” rating to an “outperform” rating in a research report on Wednesday, April 9th. Finally, Evercore ISI upgraded shares of Canadian Natural Resources from an “in-line” rating to an “outperform” rating in a research report on Friday, March 7th. Three investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $63.00.

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).