Pacifica Partners Inc. Decreases Stake in Canadian Natural Resources Limited $CNQ

Pacifica Partners Inc. lowered its stake in Canadian Natural Resources Limited (NYSE:CNQ) (TSE:CNQ) by 0.9% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 174,213 shares of the oil and gas producer’s stock after selling 1,605 shares during the period. Canadian Natural Resources accounts for 2.2% of Pacifica Partners Inc.’s holdings, making the stock its 13th biggest position. Pacifica Partners Inc.’s holdings in Canadian Natural Resources were worth $5,501,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. MAI Capital Management raised its holdings in shares of Canadian Natural Resources by 9.6% in the first quarter. MAI Capital Management now owns 4,365 shares of the oil and gas producer’s stock worth $134,000 after buying an additional 382 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. raised its holdings in shares of Canadian Natural Resources by 8.7% in the second quarter. Thurston Springer Miller Herd & Titak Inc. now owns 5,613 shares of the oil and gas producer’s stock worth $176,000 after buying an additional 448 shares during the last quarter. Moody National Bank Trust Division raised its holdings in shares of Canadian Natural Resources by 4.6% in the second quarter. Moody National Bank Trust Division now owns 11,081 shares of the oil and gas producer’s stock worth $348,000 after buying an additional 492 shares during the last quarter. AdvisorNet Financial Inc raised its holdings in shares of Canadian Natural Resources by 8.0% in the first quarter. AdvisorNet Financial Inc now owns 7,065 shares of the oil and gas producer’s stock worth $218,000 after buying an additional 525 shares during the last quarter. Finally, Geneos Wealth Management Inc. increased its stake in shares of Canadian Natural Resources by 47.3% in the first quarter. Geneos Wealth Management Inc. now owns 1,644 shares of the oil and gas producer’s stock worth $51,000 after acquiring an additional 528 shares during the period. Hedge funds and other institutional investors own 74.03% of the company’s stock.

Canadian Natural Resources Stock Performance

NYSE:CNQ opened at $31.61 on Monday. The company’s 50-day moving average price is $31.07 and its 200-day moving average price is $30.61. The company has a current ratio of 0.85, a quick ratio of 0.54 and a debt-to-equity ratio of 0.38. The company has a market cap of $65.97 billion, a P/E ratio of 11.21 and a beta of 1.03. Canadian Natural Resources Limited has a twelve month low of $24.65 and a twelve month high of $37.91.

Canadian Natural Resources (NYSE:CNQ) (TSE:CNQ) last posted its quarterly earnings results on Thursday, August 7th. The oil and gas producer reported $0.51 earnings per share for the quarter, topping the consensus estimate of $0.44 by $0.07. The firm had revenue of $6.39 billion for the quarter, compared to the consensus estimate of $8.97 billion. Canadian Natural Resources had a net margin of 19.00% and a return on equity of 19.67%. During the same period last year, the firm posted $0.88 earnings per share. On average, sell-side analysts forecast that Canadian Natural Resources Limited will post 2.45 earnings per share for the current fiscal year.

Canadian Natural Resources Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 3rd. Stockholders of record on Friday, September 19th will be paid a $0.4269 dividend. This is an increase from Canadian Natural Resources’s previous quarterly dividend of $0.42. This represents a $1.71 annualized dividend and a dividend yield of 5.4%. The ex-dividend date of this dividend is Friday, September 19th. Canadian Natural Resources’s payout ratio is 60.28%.

Analysts Set New Price Targets

Several equities research analysts have commented on CNQ shares. Zacks Research raised shares of Canadian Natural Resources from a “hold” rating to a “strong-buy” rating in a report on Tuesday, August 26th. Raymond James Financial reaffirmed an “outperform” rating on shares of Canadian Natural Resources in a research report on Friday, August 8th. National Bankshares reaffirmed a “sector perform” rating on shares of Canadian Natural Resources in a research report on Thursday, July 17th. Royal Bank Of Canada cut their price target on Canadian Natural Resources from $64.00 to $62.00 and set an “outperform” rating on the stock in a research report on Friday, August 8th. Finally, Scotiabank reaffirmed an “outperform” rating on shares of Canadian Natural Resources in a research report on Friday, July 11th. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $62.00.

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).