Avantax Advisory Services Inc. Sells 18,790 Shares of Canadian Natural Resources Limited (NYSE:CNQ)

Key Points

• Avantax Advisory Services Inc. has reduced its holdings in Canadian Natural Resources Limited by 37.9%, selling 18,790 shares, leaving it with 30,723 shares valued at approximately $946,000.
• Canadian Natural Resources recently increased its quarterly dividend to $0.4227 per share, resulting in an annualized yield of 5.5% based on a payout ratio of 67.06%.
• The stock has an average rating of "Moderate Buy" from analysts, with a consensus target price of $63.00, despite recent fluctuations in its stock value and a quarterly earnings report that topped estimates.

Avantax Advisory Services Inc. cut its position in Canadian Natural Resources Limited (NYSE:CNQ - Free Report) TSE: CNQ by 37.9% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 30,723 shares of the oil and gas producer's stock after selling 18,790 shares during the quarter. Avantax Advisory Services Inc.'s holdings in Canadian Natural Resources were worth $946,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Hurley Capital LLC acquired a new stake in Canadian Natural Resources during the 4th quarter valued at $31,000. Versant Capital Management Inc lifted its holdings in Canadian Natural Resources by 253.2% during the 1st quarter. Versant Capital Management Inc now owns 1,307 shares of the oil and gas producer's stock valued at $40,000 after purchasing an additional 937 shares during the last quarter. Huntington National Bank lifted its holdings in Canadian Natural Resources by 64.1% during the 4th quarter. Huntington National Bank now owns 1,493 shares of the oil and gas producer's stock valued at $46,000 after purchasing an additional 583 shares during the last quarter. Sierra Ocean LLC lifted its holdings in Canadian Natural Resources by 104.0% during the 1st quarter. Sierra Ocean LLC now owns 1,569 shares of the oil and gas producer's stock valued at $48,000 after purchasing an additional 800 shares during the last quarter. Finally, Opal Wealth Advisors LLC acquired a new stake in Canadian Natural Resources during the 1st quarter valued at $56,000. Institutional investors and hedge funds own 74.03% of the company's stock.

Analyst Ratings Changes

Several equities research analysts have issued reports on CNQ shares. Scotiabank reaffirmed an "outperform" rating on shares of Canadian Natural Resources in a report on Friday, July 11th. National Bankshares reissued a "sector perform" rating on shares of Canadian Natural Resources in a report on Thursday, July 17th. Finally, Raymond James Financial raised Canadian Natural Resources from a "market perform" rating to an "outperform" rating in a report on Wednesday, April 9th. Three equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, Canadian Natural Resources presently has an average rating of "Moderate Buy" and a consensus target price of $63.00.

Canadian Natural Resources Stock Down 2.2%

CNQ opened at $30.99 on Friday. Canadian Natural Resources Limited has a fifty-two week low of $24.65 and a fifty-two week high of $37.91. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.53 and a current ratio of 0.84. The company has a market capitalization of $64.79 billion, a P/E ratio of 12.15 and a beta of 1.05. The stock has a fifty day moving average of $31.80 and a 200-day moving average of $30.39.

Canadian Natural Resources (NYSE:CNQ - Get Free Report) TSE: CNQ last posted its earnings results on Thursday, May 8th. The oil and gas producer reported $0.81 earnings per share for the quarter, topping analysts' consensus estimates of $0.73 by $0.08. The company had revenue of $6.96 billion during the quarter, compared to the consensus estimate of $10.14 billion. Canadian Natural Resources had a return on equity of 20.90% and a net margin of 16.92%. During the same quarter last year, the firm earned $1.37 earnings per share. On average, equities analysts expect that Canadian Natural Resources Limited will post 2.45 EPS for the current year.

Canadian Natural Resources Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, July 3rd. Investors of record on Friday, June 13th were paid a $0.4227 dividend. This represents a $1.69 dividend on an annualized basis and a yield of 5.5%. This is a boost from Canadian Natural Resources's previous quarterly dividend of $0.41. The ex-dividend date of this dividend was Friday, June 13th. Canadian Natural Resources's payout ratio is presently 67.06%.

Canadian Natural Resources Company Profile

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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