Canadian Natural Resources Limited $CNQ Shares Acquired by NewEdge Wealth LLC

Key Points

• NewEdge Wealth LLC increased its stake in Canadian Natural Resources by 2.2% in the fourth quarter, bringing its holdings to 1,065,820 shares worth about $36.1 million.
• Canadian Natural Resources reported quarterly earnings of $0.85 per share, topping analyst expectations of $0.74, while revenue also came in ahead of estimates at $7.72 billion.
• The company announced a quarterly dividend of $0.625 per share, equal to an annualized yield of 5.6%, reinforcing its appeal to income-focused investors.

NewEdge Wealth LLC lifted its position in shares of Canadian Natural Resources Limited (NYSE:CNQ - Free Report) TSE: CNQ by 2.2% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 1,065,820 shares of the oil and gas producer's stock after purchasing an additional 23,161 shares during the quarter. NewEdge Wealth LLC owned about 0.05% of Canadian Natural Resources worth $36,078,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Investment Management Associates Inc. ADV raised its holdings in Canadian Natural Resources by 6.9% in the fourth quarter. Investment Management Associates Inc. ADV now owns 358,299 shares of the oil and gas producer's stock valued at $12,128,000 after buying an additional 23,047 shares during the period. Bernzott Capital Advisors purchased a new stake in Canadian Natural Resources during the fourth quarter worth approximately $135,000. Crestwood Advisors Group LLC purchased a new stake in Canadian Natural Resources during the fourth quarter worth approximately $238,000. Sequoia Financial Advisors LLC increased its position in shares of Canadian Natural Resources by 3.2% in the fourth quarter. Sequoia Financial Advisors LLC now owns 38,729 shares of the oil and gas producer's stock worth $1,311,000 after acquiring an additional 1,185 shares in the last quarter. Finally, Gateway Investment Advisers LLC increased its position in shares of Canadian Natural Resources by 1.3% in the fourth quarter. Gateway Investment Advisers LLC now owns 26,486 shares of the oil and gas producer's stock worth $897,000 after acquiring an additional 330 shares in the last quarter. Institutional investors and hedge funds own 74.03% of the company's stock.

Canadian Natural Resources Trading Down 0.5%

NYSE CNQ opened at $44.52 on Friday. The stock has a market cap of $92.87 billion, a P/E ratio of 13.29 and a beta of 0.47. The company's fifty day simple moving average is $46.63 and its 200-day simple moving average is $38.73. The company has a current ratio of 0.95, a quick ratio of 0.63 and a debt-to-equity ratio of 0.36. Canadian Natural Resources Limited has a 52 week low of $29.30 and a 52 week high of $51.34.

Canadian Natural Resources (NYSE:CNQ - Get Free Report) TSE: CNQ last released its quarterly earnings results on Thursday, May 7th. The oil and gas producer reported $0.85 earnings per share for the quarter, beating analysts' consensus estimates of $0.74 by $0.11. Canadian Natural Resources had a net margin of 22.04% and a return on equity of 17.80%. The business had revenue of $7.72 billion during the quarter, compared to analyst estimates of $7.57 billion. During the same period last year, the business earned $1.16 EPS. Equities research analysts predict that Canadian Natural Resources Limited will post 3.17 EPS for the current fiscal year.

Canadian Natural Resources Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 7th. Shareholders of record on Friday, June 19th will be given a $0.625 dividend. This represents a $2.50 dividend on an annualized basis and a yield of 5.6%. The ex-dividend date of this dividend is Thursday, June 18th. Canadian Natural Resources's dividend payout ratio is presently 54.63%.

Key Headlines Impacting Canadian Natural Resources

Here are the key news stories impacting Canadian Natural Resources this week:

• Positive Sentiment: Canadian Natural Resources beat Q1 expectations, with earnings and revenue coming in above analyst estimates; that kind of outperformance can support the stock as investors reward better-than-expected operating results. Article Title
• Positive Sentiment: Raymond James upgraded Canadian Natural Resources from “market perform” to “outperform,” while Zacks Research also raised its view to “strong-buy,” signaling improved analyst confidence in CNQ’s outlook. Article Title
• Positive Sentiment: The company declared a quarterly dividend of C$0.625 per share, underscoring its cash-return profile and offering investors a 5.6% annualized yield, which can attract income-focused buyers. Article Title
• Neutral Sentiment: CNQ also released first-quarter results showing strong revenue but softer profitability metrics versus last year, including lower gross profit, operating profit, and EPS year over year, which may temper enthusiasm even after the earnings beat. Article Title

Analyst Ratings Changes

Several equities analysts recently weighed in on the stock. Wall Street Zen upgraded shares of Canadian Natural Resources from a "sell" rating to a "hold" rating in a report on Saturday, January 31st. Weiss Ratings upgraded Canadian Natural Resources from a "hold (c+)" rating to a "buy (b)" rating in a report on Friday, March 27th. Zacks Research raised Canadian Natural Resources from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, May 5th. ATB Cormark Capital Markets cut Canadian Natural Resources from a "strong-buy" rating to a "moderate buy" rating in a research note on Thursday, March 5th. Finally, The Goldman Sachs Group upped their target price on Canadian Natural Resources from $37.00 to $49.00 and gave the stock a "buy" rating in a research report on Thursday, March 12th. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $57.00.

About Canadian Natural Resources

Canadian Natural Resources Limited NYSE: CNQ is a Calgary-based independent oil and natural gas exploration and production company. Established in the early 1970s and publicly listed in Canada and the United States, the company is principally engaged in the exploration, development, production, and marketing of crude oil, natural gas and natural gas liquids. Its asset base spans conventional and unconventional reservoirs and includes oil sands mining and in-situ thermal projects, midstream processing and upgrading capacity, and related field operations.

The company's operations are concentrated in Western Canada, where it develops heavy crude, bitumen from oil sands and conventional light crude and natural gas resources.

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