Carnegie Investment Counsel lowered its holdings in Canadian Natural Resources Limited (NYSE:CNQ - Free Report) TSE: CNQ by 14.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 75,650 shares of the oil and gas producer's stock after selling 12,766 shares during the quarter. Carnegie Investment Counsel's holdings in Canadian Natural Resources were worth $2,335,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds have also recently modified their holdings of CNQ. Continuum Advisory LLC raised its stake in shares of Canadian Natural Resources by 144.1% in the third quarter. Continuum Advisory LLC now owns 830 shares of the oil and gas producer's stock worth $28,000 after purchasing an additional 490 shares during the last quarter. Coastline Trust Co purchased a new stake in Canadian Natural Resources during the third quarter valued at $33,000. Wilmington Savings Fund Society FSB purchased a new stake in Canadian Natural Resources during the third quarter valued at $37,000. Sound Income Strategies LLC purchased a new stake in Canadian Natural Resources during the third quarter valued at $46,000. Finally, First Horizon Advisors Inc. increased its position in Canadian Natural Resources by 58.4% during the third quarter. First Horizon Advisors Inc. now owns 1,432 shares of the oil and gas producer's stock valued at $48,000 after acquiring an additional 528 shares during the last quarter. Hedge funds and other institutional investors own 74.03% of the company's stock.
Canadian Natural Resources Stock Performance
Canadian Natural Resources stock traded up $0.31 during mid-day trading on Friday, reaching $31.11. 5,819,543 shares of the stock traded hands, compared to its average volume of 3,709,238. The business's 50-day moving average is $32.18 and its 200-day moving average is $34.01. Canadian Natural Resources Limited has a 12-month low of $29.23 and a 12-month high of $41.29. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.84 and a quick ratio of 0.53. The stock has a market capitalization of $65.44 billion, a PE ratio of 12.08 and a beta of 1.46.
Canadian Natural Resources (NYSE:CNQ - Get Free Report) TSE: CNQ last released its quarterly earnings results on Thursday, October 31st. The oil and gas producer reported $0.97 earnings per share (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 business had revenue of $7.62 billion during the quarter, compared to analyst estimates of $6.40 billion. During the same quarter in the previous year, the company posted $0.96 earnings per share. As a group, sell-side analysts predict that Canadian Natural Resources Limited will post 2.42 EPS for the current fiscal year.
Wall Street Analysts Forecast Growth
Separately, Desjardins upgraded Canadian Natural Resources from a "hold" rating to a "moderate buy" rating in a research report on Tuesday, October 8th. Four analysts have rated the stock with a hold rating, According to MarketBeat, the company has an average rating of "Hold".
Read Our Latest Stock Analysis on Canadian Natural Resources
About Canadian Natural Resources
(
Free Report)
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).
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