DORCHESTER WEALTH MANAGEMENT Co Sells 910 Shares of Canadian Natural Resources Limited (NYSE:CNQ)

DORCHESTER WEALTH MANAGEMENT Co decreased its holdings in shares of Canadian Natural Resources Limited (NYSE:CNQ) (TSE:CNQ) by 0.4% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 227,844 shares of the oil and gas producer’s stock after selling 910 shares during the quarter. DORCHESTER WEALTH MANAGEMENT Co’s holdings in Canadian Natural Resources were worth $7,501,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Lighthouse Investment Partners LLC acquired a new stake in shares of Canadian Natural Resources during the 2nd quarter worth approximately $890,000. Capital Wealth Planning LLC grew its position in shares of Canadian Natural Resources by 228.5% during the 2nd quarter. Capital Wealth Planning LLC now owns 91,652 shares of the oil and gas producer’s stock worth $3,263,000 after buying an additional 63,756 shares during the period. Souders Financial Advisors grew its position in shares of Canadian Natural Resources by 103.0% during the 2nd quarter. Souders Financial Advisors now owns 99,999 shares of the oil and gas producer’s stock worth $3,560,000 after buying an additional 50,744 shares during the period. Baskin Financial Services Inc. grew its position in shares of Canadian Natural Resources by 1.5% during the 3rd quarter. Baskin Financial Services Inc. now owns 985,280 shares of the oil and gas producer’s stock worth $32,696,000 after buying an additional 14,812 shares during the period. Finally, JBF Capital Inc. grew its position in shares of Canadian Natural Resources by 101.1% during the 2nd quarter. JBF Capital Inc. now owns 512,198 shares of the oil and gas producer’s stock worth $18,234,000 after buying an additional 257,549 shares during the period. Institutional investors and hedge funds own 74.03% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports 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. Wolfe Research assumed coverage on shares of Canadian Natural Resources in a research report on Thursday, July 18th. They set a “peer perform” rating on the stock. Finally, Desjardins raised shares of Canadian Natural Resources from a “hold” rating to a “moderate buy” rating in a research report on Tuesday, October 8th. Five investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to data from MarketBeat, Canadian Natural Resources presently has an average rating of “Hold” and a consensus price target of $49.50.

Canadian Natural Resources Stock Performance

Shares of CNQ stock traded down $0.04 on Thursday, hitting $35.07. The company’s stock had a trading volume of 346,386 shares, compared to its average volume of 5,429,023. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.59 and a current ratio of 0.88. The stock’s 50 day moving average is $34.97 and its 200-day moving average is $36.06. 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 market capitalization of $74.63 billion, a PE ratio of 13.99 and a beta of 1.50.

Canadian Natural Resources (NYSE:CNQ) (TSE:CNQ) last released its quarterly earnings results on Thursday, August 1st. The oil and gas producer reported $0.88 EPS for the quarter, beating the consensus estimate of $0.62 by $0.26. The business had revenue of $7.76 billion for the quarter, compared to the consensus estimate of $6.19 billion. Canadian Natural Resources had a net margin of 18.05% and a return on equity of 22.09%. During the same period in the prior year, the company posted $0.43 earnings per share. Equities research analysts expect that Canadian Natural Resources Limited will post 2.5 earnings per share for the current fiscal year.

Canadian Natural Resources Increases Dividend

The company 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. This represents a $1.55 dividend on an annualized basis and a yield of 4.43%. This is an increase from Canadian Natural Resources’s previous quarterly dividend of $0.38. The ex-dividend date is Friday, December 13th. Canadian Natural Resources’s dividend payout ratio is presently 66.14%.

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).