Solstein Capital LLC Acquires 18,896 Shares of Canadian Natural Resources Limited $CNQ

Solstein Capital LLC boosted its holdings in Canadian Natural Resources Limited (NYSE:CNQ) (TSE:CNQ) by 33.9% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 74,660 shares of the oil and gas producer’s stock after acquiring an additional 18,896 shares during the period. Canadian Natural Resources accounts for 1.0% of Solstein Capital LLC’s holdings, making the stock its 24th biggest position. Solstein Capital LLC’s holdings in Canadian Natural Resources were worth $2,531,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. TD Waterhouse Canada Inc. raised its stake in Canadian Natural Resources by 4.9% in the 4th quarter. TD Waterhouse Canada Inc. now owns 6,758,445 shares of the oil and gas producer’s stock valued at $228,729,000 after acquiring an additional 315,460 shares during the period. SCP Investment LP bought a new stake in Canadian Natural Resources in the 3rd quarter valued at $1,144,000. Marshall Financial Group LLC bought a new stake in Canadian Natural Resources in the 4th quarter valued at $869,000. Numerai GP LLC raised its stake in Canadian Natural Resources by 102.5% in the 3rd quarter. Numerai GP LLC now owns 77,164 shares of the oil and gas producer’s stock valued at $2,466,000 after acquiring an additional 39,049 shares during the period. Finally, NewEdge Wealth LLC raised its stake in Canadian Natural Resources by 3.1% in the 3rd quarter. NewEdge Wealth LLC now owns 1,042,659 shares of the oil and gas producer’s stock valued at $33,240,000 after acquiring an additional 31,154 shares during the period. Institutional investors own 74.03% of the company’s stock.

Canadian Natural Resources Stock Down 0.3%

CNQ stock opened at $45.32 on Friday. The company has a debt-to-equity ratio of 0.37, a current ratio of 0.98 and a quick ratio of 0.68. The stock has a market capitalization of $94.33 billion, a price-to-earnings ratio of 13.53 and a beta of 0.45. The business’s fifty day moving average price is $46.46 and its two-hundred day moving average price is $41.37. Canadian Natural Resources Limited has a fifty-two week low of $29.30 and a fifty-two week high of $51.34.

Canadian Natural Resources (NYSE:CNQ) (TSE:CNQ) last posted its quarterly earnings data on Thursday, May 7th. The oil and gas producer reported $0.85 earnings per share for the quarter, topping the consensus estimate of $0.74 by $0.11. The firm had revenue of $7.72 billion for the quarter, compared to analysts’ expectations of $7.57 billion. Canadian Natural Resources had a return on equity of 17.49% and a net margin of 22.04%.During the same quarter last year, the business earned $1.16 EPS. On average, equities analysts anticipate that Canadian Natural Resources Limited will post 4.2 earnings per share for the current year.

Canadian Natural Resources Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 7th. Investors of record on Tuesday, June 23rd will be given a $0.625 dividend. The ex-dividend date is Tuesday, June 23rd. This represents a $2.50 dividend on an annualized basis and a dividend yield of 5.5%. Canadian Natural Resources’s dividend payout ratio (DPR) is presently 54.63%.

Analyst Upgrades and Downgrades

CNQ has been the topic of several recent research reports. Zacks Research cut Canadian Natural Resources from a “strong-buy” rating to a “hold” rating in a research report on Monday, June 8th. Scotiabank reiterated an “outperform” rating on shares of Canadian Natural Resources in a research report on Wednesday, May 20th. Royal Bank Of Canada increased their price objective on Canadian Natural Resources from $61.00 to $65.00 and gave the stock an “outperform” rating in a research report on Friday, March 6th. Weiss Ratings cut Canadian Natural Resources from a “buy (b)” rating to a “buy (b-)” rating in a research report on Monday, May 11th. Finally, ATB Cormark Capital Markets cut Canadian Natural Resources from a “strong-buy” rating to a “moderate buy” rating in a research report on Thursday, March 5th. Seven research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. According to MarketBeat, Canadian Natural Resources currently has an average rating of “Moderate Buy” and a consensus price target of $57.00.

About Canadian Natural Resources

Canadian Natural Resources Limited (NYSE: CNQ) is a Calgary-based independent oil and natural gas exploration and production company. Established in the early 1970s and publicly listed in Canada and the United States, the company is principally engaged in the exploration, development, production, and marketing of crude oil, natural gas and natural gas liquids. Its asset base spans conventional and unconventional reservoirs and includes oil sands mining and in-situ thermal projects, midstream processing and upgrading capacity, and related field operations.

The company’s operations are concentrated in Western Canada, where it develops heavy crude, bitumen from oil sands and conventional light crude and natural gas resources.