Fiduciary Trust Co Lowers Stake in Canadian Natural Resources Limited (NYSE:CNQ)

Fiduciary Trust Co lowered its stake in shares of Canadian Natural Resources Limited (NYSE:CNQ) (TSE:CNQ) by 20.0% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 184,372 shares of the oil and gas producer’s stock after selling 46,122 shares during the period. Fiduciary Trust Co’s holdings in Canadian Natural Resources were worth $6,123,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently bought and sold shares of the company. Park Place Capital Corp lifted its holdings in shares of 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 purchasing an additional 358 shares during the last quarter. RFP Financial Group LLC lifted its holdings in shares of 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 purchasing an additional 352 shares during the last quarter. Sugarloaf Wealth Management LLC increased its position in shares of Canadian Natural Resources by 100.0% in 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 during the period. Bruce G. Allen Investments LLC increased 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 valued at $31,000 after acquiring an additional 415 shares during the period. Finally, GAMMA Investing LLC increased 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 valued at $31,000 after acquiring an additional 447 shares during the period. Hedge funds and other institutional investors own 74.03% of the company’s stock.

Canadian Natural Resources Price Performance

Shares of CNQ opened at $33.52 on Friday. The business’s 50-day moving average is $34.64 and its two-hundred day moving average is $35.24. The company has a market capitalization of $70.74 billion, a P/E ratio of 13.04 and a beta of 1.50. 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 fifty-two week low of $29.45 and a fifty-two week high of $41.29.

Canadian Natural Resources (NYSE:CNQ) (TSE:CNQ) last announced its quarterly 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 the consensus estimate 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 period last year, the firm earned $0.96 EPS. Research analysts predict that Canadian Natural Resources Limited will post 2.47 earnings per share for the current year.

Canadian Natural Resources Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 3rd. Stockholders of record on Friday, December 13th will be given a dividend of $0.388 per share. The ex-dividend date is Friday, December 13th. This is a boost from Canadian Natural Resources’s previous quarterly dividend of $0.38. This represents a $1.55 dividend on an annualized basis and a dividend yield of 4.63%. Canadian Natural Resources’s dividend payout ratio (DPR) is 64.59%.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on CNQ shares. StockNews.com downgraded 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 research analysts have rated the stock with a hold rating, According to MarketBeat, the company presently has a consensus 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).