MGB Wealth Management LLC Sells 10,500 Shares of Canadian Natural Resources Limited (NYSE:CNQ)

MGB Wealth Management LLC lessened its stake in shares of Canadian Natural Resources Limited (NYSE:CNQ) (TSE:CNQ) by 9.5% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 99,558 shares of the oil and gas producer’s stock after selling 10,500 shares during the quarter. Canadian Natural Resources makes up about 1.2% of MGB Wealth Management LLC’s portfolio, making the stock its 12th biggest position. MGB Wealth Management LLC’s holdings in Canadian Natural Resources were worth $3,306,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Park Place Capital Corp boosted its position in Canadian Natural Resources by 100.0% during the 2nd quarter. Park Place Capital Corp now owns 716 shares of the oil and gas producer’s stock valued at $25,000 after acquiring an additional 358 shares in the last quarter. RFP Financial Group LLC boosted 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 valued at $25,000 after acquiring an additional 352 shares in the last quarter. Sugarloaf Wealth Management LLC boosted 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 valued at $26,000 after acquiring an additional 364 shares in the last quarter. Bruce G. Allen Investments LLC boosted its position in shares of Canadian Natural Resources by 91.6% in the 2nd quarter. Bruce G. Allen Investments LLC now owns 868 shares of the oil and gas producer’s stock worth $31,000 after purchasing an additional 415 shares in the last quarter. Finally, GAMMA Investing LLC boosted its position in shares of Canadian Natural Resources by 104.7% in 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 in the last quarter. Institutional investors own 74.03% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Canadian Natural Resources Stock Performance

Shares of CNQ stock opened at $34.84 on Friday. The firm has a market capitalization of $73.53 billion, a price-to-earnings ratio of 13.53 and a beta of 1.50. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.84 and a quick ratio of 0.53. The business has a fifty day moving average of $34.59 and a 200 day moving average of $35.35. Canadian Natural Resources Limited has a 1 year low of $29.45 and a 1 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 (EPS) for the quarter, topping analysts’ consensus estimates of $0.67 by $0.30. The company had revenue of $7.62 billion during the quarter, compared to analyst estimates of $6.40 billion. Canadian Natural Resources had a return on equity of 20.07% and a net margin of 18.45%. During the same quarter last year, the business posted $0.96 EPS. As a group, research analysts expect that Canadian Natural Resources Limited will post 2.44 earnings per share for the current year.

Canadian Natural Resources Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, January 3rd. Investors of record on Friday, December 13th will be paid a $0.388 dividend. This is a positive change from Canadian Natural Resources’s previous quarterly dividend of $0.38. The ex-dividend date is Friday, December 13th. This represents a $1.55 dividend on an annualized basis and a yield of 4.45%. Canadian Natural Resources’s dividend payout ratio (DPR) is 60.58%.

About Canadian Natural Resources

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).