Canadian Natural Resources Limited (NYSE:CNQ) Shares Acquired by King Luther Capital Management Corp

King Luther Capital Management Corp lifted its holdings in shares of Canadian Natural Resources Limited (NYSE:CNQ) (TSE:CNQ) by 4.3% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 31,664 shares of the oil and gas producer’s stock after purchasing an additional 1,313 shares during the period. King Luther Capital Management Corp’s holdings in Canadian Natural Resources were worth $1,052,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of CNQ. Park Place Capital Corp increased its position in 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 buying an additional 358 shares in the last quarter. RFP Financial Group LLC increased 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 in the last quarter. Sugarloaf Wealth Management LLC raised its stake in 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 purchasing an additional 364 shares during the last quarter. Bruce G. Allen Investments LLC lifted its holdings in 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 purchasing an additional 415 shares in the last quarter. Finally, GAMMA Investing LLC grew its holdings in shares of Canadian Natural Resources by 104.7% during the second quarter. GAMMA Investing LLC now owns 874 shares of the oil and gas producer’s stock worth $31,000 after buying an additional 447 shares in the last quarter. 74.03% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

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

Canadian Natural Resources Stock Up 0.8 %

Shares of NYSE CNQ opened at $34.84 on Friday. The stock has a market capitalization of $73.53 billion, a PE ratio of 13.53 and a beta of 1.50. The company has a quick ratio of 0.53, a current ratio of 0.84 and a debt-to-equity ratio of 0.21. The firm has a fifty day moving average of $34.59 and a 200-day moving average of $35.35. Canadian Natural Resources Limited has a 52-week low of $29.45 and a 52-week high of $41.29.

Canadian Natural Resources (NYSE:CNQ) (TSE:CNQ) last posted its quarterly earnings results on Thursday, October 31st. The oil and gas producer reported $0.97 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.67 by $0.30. The firm had revenue of $7.62 billion during 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 quarter in the previous year, the business earned $0.96 earnings per share. On average, analysts anticipate that Canadian Natural Resources Limited will post 2.44 EPS for the current year.

Canadian Natural Resources Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 3rd. Investors of record on Friday, December 13th will be issued 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 annualized dividend and a yield of 4.45%. Canadian Natural Resources’s dividend payout ratio (DPR) is presently 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).