Transamerica Financial Advisors Inc. Boosts Stock Position in Canadian Natural Resources Limited (NYSE:CNQ)

Transamerica Financial Advisors Inc. raised its stake in Canadian Natural Resources Limited (NYSE:CNQ) (TSE:CNQ) by 11.0% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 8,212 shares of the oil and gas producer’s stock after purchasing an additional 816 shares during the period. Transamerica Financial Advisors Inc.’s holdings in Canadian Natural Resources were worth $273,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently added to or reduced their stakes in CNQ. Bayesian Capital Management LP grew its stake in shares of Canadian Natural Resources by 8.8% during the first quarter. Bayesian Capital Management LP now owns 9,600 shares of the oil and gas producer’s stock worth $733,000 after acquiring an additional 776 shares during the last quarter. B. Riley Wealth Advisors Inc. grew its stake in shares of Canadian Natural Resources by 7.2% during the first quarter. B. Riley Wealth Advisors Inc. now owns 40,577 shares of the oil and gas producer’s stock worth $3,097,000 after acquiring an additional 2,723 shares during the last quarter. Tidal Investments LLC grew its stake in shares of Canadian Natural Resources by 59.9% during the first quarter. Tidal Investments LLC now owns 10,245 shares of the oil and gas producer’s stock worth $782,000 after acquiring an additional 3,837 shares during the last quarter. iA Global Asset Management Inc. grew its stake in shares of Canadian Natural Resources by 11.0% during the first quarter. iA Global Asset Management Inc. now owns 19,414 shares of the oil and gas producer’s stock worth $1,482,000 after acquiring an additional 1,925 shares during the last quarter. Finally, Wahed Invest LLC grew its stake in shares of Canadian Natural Resources by 35.5% during the first quarter. Wahed Invest LLC now owns 11,716 shares of the oil and gas producer’s stock worth $895,000 after acquiring an additional 3,068 shares during the last quarter. Hedge funds and other institutional investors own 74.03% of the company’s stock.

Canadian Natural Resources Stock Down 2.5 %

Shares of CNQ opened at $33.19 on Wednesday. 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 Limited has a one year low of $29.45 and a one year high of $41.29. The stock has a 50 day moving average price of $34.63 and a 200 day moving average price of $35.26. The stock has a market capitalization of $70.04 billion, a price-to-earnings ratio of 12.89 and a beta of 1.50.

Canadian Natural Resources (NYSE:CNQ) (TSE:CNQ) last released its quarterly earnings data on Thursday, October 31st. The oil and gas producer reported $0.97 EPS for the quarter, beating analysts’ consensus estimates of $0.67 by $0.30. Canadian Natural Resources had a return on equity of 20.07% and a net margin of 18.45%. The firm had revenue of $7.62 billion for the quarter, compared to analysts’ expectations of $6.40 billion. During the same period in the prior year, the firm posted $0.96 earnings per share. Equities research analysts forecast that Canadian Natural Resources Limited will post 2.47 earnings per share for the current fiscal year.

Canadian Natural Resources Increases Dividend

The company also recently declared 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 dividend on an annualized basis and a yield of 4.68%. This is a boost from Canadian Natural Resources’s previous quarterly dividend of $0.38. The ex-dividend date of this dividend is Friday, December 13th. Canadian Natural Resources’s dividend payout ratio is 60.58%.

Analyst Ratings Changes

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

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).