Trinity Legacy Partners LLC Boosts Stake in Canadian Natural Resources Limited (NYSE:CNQ)

Trinity Legacy Partners LLC lifted its position in Canadian Natural Resources Limited (NYSE:CNQ) (TSE:CNQ) by 3.7% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 90,980 shares of the oil and gas producer’s stock after purchasing an additional 3,221 shares during the quarter. Trinity Legacy Partners LLC’s holdings in Canadian Natural Resources were worth $3,021,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in CNQ. Park Place Capital Corp grew its position in shares of Canadian Natural Resources by 100.0% during the second quarter. Park Place Capital Corp now owns 716 shares of the oil and gas producer’s stock worth $25,000 after acquiring an additional 358 shares during the last quarter. RFP Financial Group LLC grew 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 purchasing an additional 352 shares during the last quarter. Sugarloaf Wealth Management LLC grew its position in Canadian Natural Resources by 100.0% during the 2nd quarter. Sugarloaf Wealth Management LLC now owns 728 shares of the oil and gas producer’s stock worth $26,000 after purchasing an additional 364 shares during the last quarter. Bruce G. Allen Investments LLC increased its stake in Canadian Natural Resources by 91.6% in the second quarter. Bruce G. Allen Investments LLC now owns 868 shares of the oil and gas producer’s stock valued at $31,000 after purchasing an additional 415 shares during the period. Finally, GAMMA Investing LLC raised its holdings in shares of Canadian Natural Resources by 104.7% in the second quarter. GAMMA Investing LLC now owns 874 shares of the oil and gas producer’s stock valued at $31,000 after buying an additional 447 shares during the last quarter. Hedge funds and other institutional investors own 74.03% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the stock. StockNews.com lowered shares of Canadian Natural Resources from a “buy” rating to a “hold” rating in a research report on Friday, August 23rd. Desjardins upgraded shares of Canadian Natural Resources from a “hold” rating to a “moderate buy” rating in a research note on Tuesday, October 8th. Finally, Wolfe Research initiated coverage on shares of Canadian Natural Resources in a research report on Thursday, July 18th. They issued a “peer perform” rating for the company. Five investment analysts have rated the stock with a hold rating, Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $51.00.

Canadian Natural Resources Price Performance

Shares of NYSE CNQ opened at $34.82 on Friday. The company’s fifty day moving average is $34.59 and its two-hundred day moving average is $35.70. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.53 and a current ratio of 0.84. The firm has a market capitalization of $73.59 billion, a P/E ratio of 13.55 and a beta of 1.50. Canadian Natural Resources Limited has a one year low of $29.45 and a one year high of $41.29.

Canadian Natural Resources (NYSE:CNQ) (TSE:CNQ) last issued its earnings results on Thursday, October 31st. The oil and gas producer reported $0.97 earnings per share for the quarter, topping the consensus estimate of $0.67 by $0.30. The company had revenue of $7.62 billion for the quarter, compared to analyst estimates of $6.40 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 prior year, the business posted $0.96 earnings per share. Analysts forecast that Canadian Natural Resources Limited will post 2.38 EPS for the current fiscal year.

Canadian Natural Resources Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, January 3rd. Shareholders of record on Friday, December 13th will be given a dividend of $0.388 per share. This represents a $1.55 dividend on an annualized basis and a yield of 4.46%. This is an increase from Canadian Natural Resources’s previous quarterly dividend of $0.38. The ex-dividend date is Friday, December 13th. Canadian Natural Resources’s payout ratio is presently 64.59%.

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).