Harvest Portfolios Group Inc. Sells 20,076 Shares of Canadian Natural Resources Limited $CNQ

Harvest Portfolios Group Inc. lessened its position in Canadian Natural Resources Limited (NYSE:CNQ) (TSE:CNQ) by 13.3% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 130,587 shares of the oil and gas producer’s stock after selling 20,076 shares during the period. Harvest Portfolios Group Inc.’s holdings in Canadian Natural Resources were worth $4,104,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in CNQ. Ameritas Advisory Services LLC purchased a new stake in Canadian Natural Resources during the 2nd quarter valued at $27,000. Investment Management Corp VA ADV increased its holdings in Canadian Natural Resources by 158.3% in the 1st quarter. Investment Management Corp VA ADV now owns 997 shares of the oil and gas producer’s stock worth $31,000 after buying an additional 611 shares in the last quarter. Geneos Wealth Management Inc. raised its position in Canadian Natural Resources by 47.3% in the 1st quarter. Geneos Wealth Management Inc. now owns 1,644 shares of the oil and gas producer’s stock worth $51,000 after buying an additional 528 shares during the last quarter. Adirondack Trust Co. lifted its stake in Canadian Natural Resources by 317.1% during the 2nd quarter. Adirondack Trust Co. now owns 1,710 shares of the oil and gas producer’s stock valued at $54,000 after acquiring an additional 1,300 shares during the period. Finally, Bruce G. Allen Investments LLC boosted its holdings in shares of Canadian Natural Resources by 116.7% during the 2nd quarter. Bruce G. Allen Investments LLC now owns 1,788 shares of the oil and gas producer’s stock valued at $56,000 after acquiring an additional 963 shares during the last quarter. 74.03% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

CNQ has been the topic of a number of research analyst reports. Wells Fargo & Company upgraded shares of Canadian Natural Resources to a “hold” rating in a research report on Thursday, October 16th. Raymond James Financial reiterated an “outperform” rating on shares of Canadian Natural Resources in a research note on Friday, August 8th. TD Securities reiterated a “buy” rating on shares of Canadian Natural Resources in a research report on Tuesday, September 30th. Scotiabank reissued an “outperform” rating on shares of Canadian Natural Resources in a research report on Thursday, October 9th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Canadian Natural Resources in a research note on Wednesday, October 8th. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $62.00.

Canadian Natural Resources Stock Performance

Shares of CNQ opened at $31.47 on Friday. The business has a 50-day simple moving average of $31.61 and a two-hundred day simple moving average of $31.22. The company has a quick ratio of 0.54, a current ratio of 0.85 and a debt-to-equity ratio of 0.38. Canadian Natural Resources Limited has a 52 week low of $24.65 and a 52 week high of $35.03. The stock has a market cap of $65.62 billion, a price-to-earnings ratio of 11.16 and a beta of 0.96.

Canadian Natural Resources (NYSE:CNQ) (TSE:CNQ) last announced its quarterly earnings data on Thursday, November 6th. The oil and gas producer reported $0.62 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.54 by $0.08. The company had revenue of $6.79 billion during the quarter, compared to the consensus estimate of $6.81 billion. Canadian Natural Resources had a return on equity of 19.67% and a net margin of 19.00%.During the same period in the previous year, the company posted $0.97 EPS. On average, analysts expect that Canadian Natural Resources Limited will post 2.45 EPS for the current year.

Canadian Natural Resources Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 6th. Stockholders of record on Friday, December 12th will be given a dividend of $0.5875 per share. This represents a $2.35 annualized dividend and a dividend yield of 7.5%. The ex-dividend date is Friday, December 12th. This is a positive change from Canadian Natural Resources’s previous quarterly dividend of $0.43. Canadian Natural Resources’s payout ratio is 60.64%.

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).