Cravens & Co Advisors LLC Reduces Holdings in Canadian Natural Resources Limited (NYSE:CNQ)

Cravens & Co Advisors LLC lowered its stake in shares of Canadian Natural Resources Limited (NYSE:CNQ) (TSE:CNQ) by 10.6% during the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 8,907 shares of the oil and gas producer’s stock after selling 1,061 shares during the period. Cravens & Co Advisors LLC’s holdings in Canadian Natural Resources were worth $296,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in CNQ. Park Place Capital Corp boosted its stake 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 during the last quarter. RFP Financial Group LLC lifted its stake in shares of Canadian Natural Resources by 98.3% in 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 lifted its stake 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 purchasing an additional 364 shares during the last quarter. Bruce G. Allen Investments LLC lifted its stake 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 purchasing an additional 415 shares during the last quarter. Finally, GAMMA Investing LLC lifted its stake 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 purchasing an additional 447 shares during the last quarter. Institutional investors and hedge funds own 74.03% of the company’s stock.

Canadian Natural Resources Stock Down 2.5 %

Canadian Natural Resources stock opened at $33.19 on Wednesday. The firm has a market capitalization of $70.04 billion, a P/E ratio of 12.89 and a beta of 1.50. The stock’s fifty day simple moving average is $34.63 and its 200-day simple moving average is $35.26. The company has a current ratio of 0.84, a quick ratio of 0.53 and a debt-to-equity ratio of 0.21. Canadian Natural Resources Limited has a twelve month low of $29.45 and a twelve month high of $41.29.

Canadian Natural Resources (NYSE:CNQ) (TSE:CNQ) last posted its earnings results on Thursday, October 31st. The oil and gas producer reported $0.97 EPS for the quarter, beating the consensus estimate 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 analyst estimates of $6.40 billion. During the same quarter in the prior year, the company posted $0.96 earnings per share. As a group, equities analysts expect that Canadian Natural Resources Limited will post 2.47 earnings per share for the current fiscal year.

Canadian Natural Resources Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 3rd. Shareholders of record on Friday, December 13th will be paid a $0.388 dividend. This represents a $1.55 annualized dividend and a yield of 4.68%. The ex-dividend date of this dividend is Friday, December 13th. This is an increase from Canadian Natural Resources’s previous quarterly dividend of $0.38. Canadian Natural Resources’s dividend payout ratio is currently 60.58%.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on CNQ shares. StockNews.com cut shares of Canadian Natural Resources from a “buy” rating to a “hold” rating in a 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 equities research analysts have rated the stock with a hold rating, According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $51.00.

Canadian Natural Resources Profile

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).