Canadian Natural Resources Limited $CNQ Stock: McAlvany Wealth Management LLC Increases Stake

McAlvany Wealth Management LLC boosted its position in shares of Canadian Natural Resources Limited (NYSE:CNQ) (TSE:CNQ) by 52.7% in the third quarter, Holdings Channel.com reports. The institutional investor owned 47,702 shares of the oil and gas producer’s stock after acquiring an additional 16,460 shares during the period. Canadian Natural Resources comprises approximately 1.1% of McAlvany Wealth Management LLC’s investment portfolio, making the stock its 29th biggest holding. McAlvany Wealth Management LLC’s holdings in Canadian Natural Resources were worth $2,245,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently made changes to their positions in CNQ. Arrowstreet Capital Limited Partnership bought a new stake in shares of Canadian Natural Resources in the 1st quarter valued at approximately $1,411,619,000. Healthcare of Ontario Pension Plan Trust Fund raised its position in shares of Canadian Natural Resources by 10.0% in the 1st quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 37,457,500 shares of the oil and gas producer’s stock worth $1,826,578,000 after acquiring an additional 3,397,500 shares in the last quarter. Mufg Securities Canada LTD. lifted its position in Canadian Natural Resources by 105.7% during the second quarter. Mufg Securities Canada LTD. now owns 6,350,644 shares of the oil and gas producer’s stock valued at $250,892,000 after acquiring an additional 3,262,880 shares during the last quarter. Bank of New York Mellon Corp purchased a new stake in Canadian Natural Resources in the second quarter valued at about $117,215,000. Finally, Bank of Nova Scotia lifted its stake in shares of Canadian Natural Resources by 49.9% during the first quarter. Bank of Nova Scotia now owns 6,565,392 shares of the oil and gas producer’s stock worth $320,189,000 after buying an additional 2,184,892 shares during the period. 74.03% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on CNQ shares. Wall Street Zen upgraded Canadian Natural Resources from a “hold” rating to a “buy” rating in a research report on Saturday, August 15th. Zacks Research raised shares of Canadian Natural Resources from a “hold” rating to a “strong-buy” rating in a report on Monday, October 5th. Raymond James Financial cut shares of Canadian Natural Resources from an “outperform” rating to a “market perform” rating in a research report on Wednesday, October 14th. Weiss Ratings raised shares of Canadian Natural Resources from a “buy (b)” rating to a “buy (b+)” rating in a research note on Thursday, October 8th. Finally, Scotiabank restated a “sector perform” rating on shares of Canadian Natural Resources in a report on Monday, October 19th. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $57.00.

Canadian Natural Resources Price Performance

Canadian Natural Resources stock opened at $53.69 on Tuesday. The company has a quick ratio of 0.75, a current ratio of 1.00 and a debt-to-equity ratio of 0.32. Canadian Natural Resources Limited has a 52-week low of $30.13 and a 52-week high of $56.27. The firm has a fifty day moving average of $50.81 and a 200-day moving average of $45.96. The firm has a market capitalization of $110.32 billion, a P/E ratio of 13.26 and a beta of 0.53.

Canadian Natural Resources (NYSE:CNQ) (TSE:CNQ) last issued its quarterly earnings results on Thursday, August 6th. The oil and gas producer reported $1.58 EPS for the quarter, beating analysts’ consensus estimates of $1.43 by $0.15. The firm had revenue of $14.74 billion during the quarter, compared to the consensus estimate of $9.40 billion. Canadian Natural Resources had a return on equity of 23.91% and a net margin of 22.78%. As a group, analysts predict that Canadian Natural Resources Limited will post 4.10 EPS for the current year.

Canadian Natural Resources Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, October 2nd. Stockholders of record on Friday, September 11th were paid a C$0.62 dividend. The ex-dividend date of this dividend was Friday, September 11th. This represents a $2.50 annualized dividend and a dividend yield of 4.7%. Canadian Natural Resources’s dividend payout ratio is presently 44.44%.

Canadian Natural Resources Company Profile

Canadian Natural Resources Limited is an independent energy company engaged in the exploration, development, production, marketing and sale of crude oil, natural gas and natural gas liquids. Its portfolio includes conventional and unconventional petroleum assets, heavy crude oil operations, and oil sands projects that produce bitumen and synthetic crude oil.

The company’s principal operations are located in Western Canada, including oil sands and conventional assets in Alberta and natural gas properties in Alberta and British Columbia.