Wahed Invest LLC Increases Stake in Canadian Natural Resources Limited (NYSE:CNQ)

Wahed Invest LLC boosted its holdings in shares of Canadian Natural Resources Limited (NYSE:CNQ) (TSE:CNQ) by 11.7% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 28,387 shares of the oil and gas producer’s stock after buying an additional 2,963 shares during the quarter. Wahed Invest LLC’s holdings in Canadian Natural Resources were worth $943,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. RFP Financial Group LLC raised its position in Canadian Natural Resources by 98.3% during the 2nd quarter. RFP Financial Group LLC now owns 710 shares of the oil and gas producer’s stock worth $25,000 after buying an additional 352 shares during the last quarter. Bruce G. Allen Investments LLC raised its position in Canadian Natural Resources by 91.6% during the 2nd quarter. Bruce G. Allen Investments LLC now owns 868 shares of the oil and gas producer’s stock worth $31,000 after buying an additional 415 shares during the last quarter. GAMMA Investing LLC grew its stake in shares of Canadian Natural Resources by 104.7% during the 2nd quarter. GAMMA Investing LLC now owns 874 shares of the oil and gas producer’s stock worth $31,000 after purchasing an additional 447 shares during the period. First Horizon Advisors Inc. grew its stake in shares of Canadian Natural Resources by 71.2% during the 2nd quarter. First Horizon Advisors Inc. now owns 904 shares of the oil and gas producer’s stock worth $32,000 after purchasing an additional 376 shares during the period. Finally, Coastline Trust Co acquired a new stake in shares of Canadian Natural Resources during the 3rd quarter worth approximately $33,000. 74.03% of the stock is owned by hedge funds and other institutional investors.

Canadian Natural Resources Price Performance

Canadian Natural Resources stock opened at $33.25 on Friday. The company’s fifty day moving average price is $34.63 and its 200 day moving average price is $35.08. Canadian Natural Resources Limited has a 1 year low of $29.45 and a 1 year high of $41.29. The stock has a market capitalization of $70.17 billion, a P/E ratio of 12.94 and a beta of 1.47. 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 announced its earnings results on Thursday, October 31st. The oil and gas producer reported $0.97 earnings per share (EPS) for the quarter, topping the consensus estimate 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 company had revenue of $7.62 billion for the quarter, compared to analysts’ expectations of $6.40 billion. During the same quarter in the previous year, the company posted $0.96 EPS. As a group, equities research analysts anticipate that Canadian Natural Resources Limited will post 2.47 earnings per share for the current fiscal year.

Canadian Natural Resources Increases Dividend

The firm also recently announced 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 represents a $1.55 annualized dividend and a yield of 4.67%. The ex-dividend date of this dividend is Friday, December 13th. This is a boost from Canadian Natural Resources’s previous quarterly dividend of $0.38. Canadian Natural Resources’s payout ratio is 64.59%.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on CNQ. Desjardins raised shares of Canadian Natural Resources from a “hold” rating to a “moderate buy” rating in a research note on Tuesday, October 8th. StockNews.com cut shares of Canadian Natural Resources from a “buy” rating to a “hold” rating in a research note on Friday, August 23rd. Five analysts have rated the stock with a hold rating, According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $51.00.

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).