HighTower Advisors LLC Raises Holdings in Canadian Natural Resources Limited (NYSE:CNQ)

HighTower Advisors LLC raised its position in Canadian Natural Resources Limited (NYSE:CNQ - Free Report) TSE: CNQ by 24.3% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 181,062 shares of the oil and gas producer's stock after buying an additional 35,417 shares during the period. HighTower Advisors LLC's holdings in Canadian Natural Resources were worth $6,016,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. RFP Financial Group LLC raised its position in shares of Canadian Natural Resources by 98.3% in the second quarter. RFP Financial Group LLC now owns 710 shares of the oil and gas producer's stock valued at $25,000 after buying an additional 352 shares during the last quarter. First Horizon Advisors Inc. increased its position in Canadian Natural Resources by 71.2% during the second quarter. First Horizon Advisors Inc. now owns 904 shares of the oil and gas producer's stock worth $32,000 after purchasing an additional 376 shares during the last quarter. Moloney Securities Asset Management LLC raised its position in Canadian Natural Resources by 5.4% in the third quarter. Moloney Securities Asset Management LLC now owns 7,302 shares of the oil and gas producer's stock valued at $242,000 after purchasing an additional 376 shares during the period. Measured Wealth Private Client Group LLC lifted its position in Canadian Natural Resources by 4.1% in the third quarter. Measured Wealth Private Client Group LLC now owns 10,158 shares of the oil and gas producer's stock valued at $337,000 after buying an additional 404 shares during the last quarter. Finally, Naples Global Advisors LLC lifted its holdings in shares of Canadian Natural Resources by 6.4% in the 2nd quarter. Naples Global Advisors LLC now owns 6,820 shares of the oil and gas producer's stock worth $245,000 after acquiring an additional 410 shares during the last quarter. 74.03% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts have commented on the stock. StockNews.com downgraded shares of Canadian Natural Resources from a "buy" rating to a "hold" rating in a research note 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 analysts have rated the stock with a hold rating, According to MarketBeat, the company has an average rating of "Hold" and an average target price of $51.00.

Canadian Natural Resources Stock Down 0.8 %

Canadian Natural Resources stock traded down $0.27 during midday trading on Tuesday, reaching $32.12. The company's stock had a trading volume of 2,601,824 shares, compared to its average volume of 5,240,771. Canadian Natural Resources Limited has a fifty-two week low of $29.45 and a fifty-two week high of $41.29. The company has a quick ratio of 0.53, a current ratio of 0.84 and a debt-to-equity ratio of 0.21. The company has a market cap of $67.79 billion, a P/E ratio of 12.50 and a beta of 1.47. The business has a 50-day simple moving average of $34.60 and a 200-day simple moving average of $34.95.

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, topping analysts' consensus estimates 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 the consensus estimate of $6.40 billion. During the same quarter last year, the business posted $0.96 EPS. On average, research 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 dividend of $0.388 per share. 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. This represents a $1.55 annualized dividend and a yield of 4.83%. Canadian Natural Resources's dividend payout ratio is currently 64.59%.

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).