PCJ Investment Counsel Ltd. Has $3.70 Million Holdings in Canadian Natural Resources Limited $CNQ

PCJ Investment Counsel Ltd. decreased its holdings in Canadian Natural Resources Limited (NYSE:CNQ) (TSE:CNQ) by 56.7% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 115,810 shares of the oil and gas producer’s stock after selling 151,810 shares during the period. PCJ Investment Counsel Ltd.’s holdings in Canadian Natural Resources were worth $3,702,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Tacita Capital Inc lifted its holdings in Canadian Natural Resources by 6.1% during the 3rd quarter. Tacita Capital Inc now owns 5,753 shares of the oil and gas producer’s stock valued at $184,000 after purchasing an additional 330 shares during the last quarter. King Luther Capital Management Corp raised its position in shares of Canadian Natural Resources by 1.2% in the second quarter. King Luther Capital Management Corp now owns 32,283 shares of the oil and gas producer’s stock valued at $1,014,000 after purchasing an additional 387 shares during the period. Frank Rimerman Advisors LLC raised its position in shares of Canadian Natural Resources by 2.2% in the third quarter. Frank Rimerman Advisors LLC now owns 17,886 shares of the oil and gas producer’s stock valued at $572,000 after purchasing an additional 390 shares during the period. EverSource Wealth Advisors LLC lifted its stake in shares of Canadian Natural Resources by 9.4% during the 3rd quarter. EverSource Wealth Advisors LLC now owns 4,939 shares of the oil and gas producer’s stock worth $158,000 after buying an additional 426 shares during the last quarter. Finally, Kingsview Wealth Management LLC boosted its holdings in shares of Canadian Natural Resources by 5.7% during the 2nd quarter. Kingsview Wealth Management LLC now owns 8,109 shares of the oil and gas producer’s stock worth $255,000 after buying an additional 434 shares during the period. 74.03% of the stock is currently owned by institutional investors.

Canadian Natural Resources Stock Down 1.1%

CNQ stock opened at $45.75 on Wednesday. Canadian Natural Resources Limited has a 52 week low of $24.65 and a 52 week high of $47.47. The business has a 50-day simple moving average of $38.34 and a 200 day simple moving average of $34.37. The company has a quick ratio of 0.53, a current ratio of 0.95 and a debt-to-equity ratio of 0.36. The company has a market cap of $95.38 billion, a PE ratio of 12.40 and a beta of 0.63.

Canadian Natural Resources (NYSE:CNQ) (TSE:CNQ) last released its earnings results on Thursday, March 5th. The oil and gas producer reported $0.59 EPS for the quarter, beating the consensus estimate of $0.53 by $0.06. Canadian Natural Resources had a net margin of 24.48% and a return on equity of 17.84%. The firm had revenue of $6.89 billion for the quarter, compared to analyst estimates of $6.64 billion. During the same period last year, the firm earned $0.93 EPS. Sell-side analysts anticipate that Canadian Natural Resources Limited will post 2.45 EPS for the current fiscal year.

Canadian Natural Resources Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 7th. Shareholders of record on Friday, March 20th will be paid a dividend of $0.625 per share. The ex-dividend date is Friday, March 20th. This is a boost from Canadian Natural Resources’s previous quarterly dividend of $0.59. This represents a $2.50 annualized dividend and a yield of 5.5%. Canadian Natural Resources’s dividend payout ratio is currently 45.53%.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the company. Desjardins lowered Canadian Natural Resources from a “buy” rating to a “hold” rating in a research note on Monday, November 24th. Royal Bank Of Canada lifted their target price on Canadian Natural Resources from $61.00 to $65.00 and gave the stock an “outperform” rating in a report on Friday, March 6th. The Goldman Sachs Group set a $35.00 price target on shares of Canadian Natural Resources and gave the stock a “buy” rating in a research report on Friday, January 2nd. Evercore downgraded shares of Canadian Natural Resources from an “outperform” rating to an “in-line” rating in a report on Tuesday, January 6th. Finally, Wall Street Zen raised shares of Canadian Natural Resources from a “sell” rating to a “hold” rating in a report on Saturday, January 31st. Six equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Canadian Natural Resources presently has a consensus rating of “Hold” and a consensus target price of $50.00.

Canadian Natural Resources Profile

Canadian Natural Resources Limited (NYSE: CNQ) is a Calgary-based independent oil and natural gas exploration and production company. Established in the early 1970s and publicly listed in Canada and the United States, the company is principally engaged in the exploration, development, production, and marketing of crude oil, natural gas and natural gas liquids. Its asset base spans conventional and unconventional reservoirs and includes oil sands mining and in-situ thermal projects, midstream processing and upgrading capacity, and related field operations.

The company’s operations are concentrated in Western Canada, where it develops heavy crude, bitumen from oil sands and conventional light crude and natural gas resources.