Avior Wealth Management LLC Sells 14,103 Shares of Canadian Natural Resources Limited $CNQ

Key Points

• Avior Wealth Management LLC sold 14,103 shares of Canadian Natural Resources, reducing its stake by 65.7% to 7,357 shares, valued at $231,000.
• The company increased its quarterly dividend to $0.4269 per share, reflecting a dividend yield of 5.4% and a payout ratio of 60.64%.
• Analysts have a consensus rating of "Moderate Buy" for Canadian Natural Resources, with the stock's target price set at $62.00.

Avior Wealth Management LLC decreased its stake in Canadian Natural Resources Limited (NYSE:CNQ - Free Report) TSE: CNQ by 65.7% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 7,357 shares of the oil and gas producer's stock after selling 14,103 shares during the period. Avior Wealth Management LLC's holdings in Canadian Natural Resources were worth $231,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Investment Management Corp VA ADV grew its stake in Canadian Natural Resources by 158.3% during the first quarter. Investment Management Corp VA ADV now owns 997 shares of the oil and gas producer's stock worth $31,000 after purchasing an additional 611 shares during the period. Versant Capital Management Inc grew its stake in Canadian Natural Resources by 253.2% during the first quarter. Versant Capital Management Inc now owns 1,307 shares of the oil and gas producer's stock worth $40,000 after purchasing an additional 937 shares during the period. Sierra Ocean LLC grew its stake in Canadian Natural Resources by 104.0% during the first quarter. Sierra Ocean LLC now owns 1,569 shares of the oil and gas producer's stock worth $48,000 after purchasing an additional 800 shares during the period. Geneos Wealth Management Inc. grew its stake in Canadian Natural Resources by 47.3% during the first quarter. Geneos Wealth Management Inc. now owns 1,644 shares of the oil and gas producer's stock worth $51,000 after purchasing an additional 528 shares during the period. Finally, Adirondack Trust Co. grew its stake in Canadian Natural Resources by 317.1% during the second quarter. Adirondack Trust Co. now owns 1,710 shares of the oil and gas producer's stock worth $54,000 after purchasing an additional 1,300 shares during the period. Institutional investors and hedge funds own 74.03% of the company's stock.

Analysts Set New Price Targets

A number of brokerages have commented on CNQ. Raymond James Financial reissued an "outperform" rating on shares of Canadian Natural Resources in a research note on Friday, August 8th. TD Securities reissued a "buy" rating on shares of Canadian Natural Resources in a research note on Tuesday. Scotiabank reissued an "outperform" rating on shares of Canadian Natural Resources in a research note on Friday, July 11th. Zacks Research raised Canadian Natural Resources from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, August 26th. Finally, National Bankshares reissued a "sector perform" rating on shares of Canadian Natural Resources in a research note on Thursday, July 17th. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and two have assigned a Hold rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $62.00.

Canadian Natural Resources Stock Performance

Shares of Canadian Natural Resources stock opened at $31.74 on Thursday. The business's fifty day simple moving average is $31.26 and its 200 day simple moving average is $30.78. The firm has a market capitalization of $66.23 billion, a P/E ratio of 11.25 and a beta of 0.97. Canadian Natural Resources Limited has a 12 month low of $24.65 and a 12 month high of $37.91. The company has a current ratio of 0.85, a quick ratio of 0.54 and a debt-to-equity ratio of 0.38.

Canadian Natural Resources (NYSE:CNQ - Get Free Report) TSE: CNQ last issued its earnings results on Thursday, August 7th. The oil and gas producer reported $0.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.44 by $0.07. The firm had revenue of $6.39 billion for the quarter, compared to analyst estimates of $8.97 billion. Canadian Natural Resources had a return on equity of 19.67% and a net margin of 19.00%.During the same period in the previous year, the company posted $0.88 earnings per share. As a group, analysts anticipate that Canadian Natural Resources Limited will post 2.45 EPS for the current year.

Canadian Natural Resources Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, October 3rd. Shareholders of record on Friday, September 19th will be paid a $0.4269 dividend. The ex-dividend date is Friday, September 19th. This is a boost from Canadian Natural Resources's previous quarterly dividend of $0.42. This represents a $1.71 annualized dividend and a dividend yield of 5.4%. Canadian Natural Resources's dividend payout ratio is presently 60.64%.

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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