Canadian Natural Resources Limited (NYSE:CNQ) Shares Purchased by NewEdge Wealth LLC

Key Points

• NewEdge Wealth LLC increased its stake in Canadian Natural Resources Limited by 6.2%, owning 943,757 shares valued at approximately $29 million after purchasing additional shares in the first quarter.
• Canadian Natural Resources reported $0.81 EPS for the last quarter, beating estimates of $0.73, though revenue fell short at $6.96 billion against expectations of $10.14 billion.
• The company declared a quarterly dividend of $0.4227 per share, up from $0.41, which translates to an annualized amount of $1.69 and a yield of 5.5%.

NewEdge Wealth LLC boosted its position in Canadian Natural Resources Limited (NYSE:CNQ - Free Report) TSE: CNQ by 6.2% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 943,757 shares of the oil and gas producer's stock after purchasing an additional 54,995 shares during the quarter. NewEdge Wealth LLC's holdings in Canadian Natural Resources were worth $29,068,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. FMR LLC grew its holdings in shares of Canadian Natural Resources by 8.7% during the fourth quarter. FMR LLC now owns 92,550,104 shares of the oil and gas producer's stock worth $2,857,337,000 after buying an additional 7,372,718 shares in the last quarter. Graybill Wealth Management LTD. acquired a new position in Canadian Natural Resources during the first quarter worth about $3,697,000. Janney Montgomery Scott LLC purchased a new stake in Canadian Natural Resources during the 1st quarter valued at about $757,000. PKO Investment Management Joint Stock Co acquired a new stake in Canadian Natural Resources in the 4th quarter valued at about $2,452,000. Finally, Baskin Financial Services Inc. raised its holdings in Canadian Natural Resources by 0.9% in the 1st quarter. Baskin Financial Services Inc. now owns 1,005,012 shares of the oil and gas producer's stock valued at $30,921,000 after acquiring an additional 8,861 shares during the last quarter. Hedge funds and other institutional investors own 74.03% of the company's stock.

Canadian Natural Resources Trading Down 2.2%

CNQ opened at $30.99 on Friday. The stock has a market capitalization of $64.79 billion, a PE ratio of 12.15 and a beta of 1.05. Canadian Natural Resources Limited has a one year low of $24.65 and a one year 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 business's 50 day moving average price is $31.80 and its 200 day moving average price is $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 EPS for the quarter, beating analysts' consensus estimates of $0.73 by $0.08. The company had revenue of $6.96 billion for 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 in the previous year, the business earned $1.37 earnings per share. As a group, equities research 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. Shareholders of record on Friday, June 13th were given a dividend of $0.4227 per share. This is a boost from Canadian Natural Resources's previous quarterly dividend of $0.41. This represents a $1.69 dividend on an annualized basis and a dividend yield of 5.5%. The ex-dividend date was Friday, June 13th. Canadian Natural Resources's dividend payout ratio (DPR) is 67.06%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on CNQ shares. Scotiabank reiterated an "outperform" rating on shares of Canadian Natural Resources in a research report on Friday, July 11th. National Bankshares restated a "sector perform" rating on shares of Canadian Natural Resources in a report on Thursday, July 17th. Finally, Raymond James Financial upgraded Canadian Natural Resources from a "market perform" rating to an "outperform" rating in a report on Wednesday, April 9th. Three research analysts have rated the stock with a hold rating and four have given a buy rating to the company's stock. According to MarketBeat, Canadian Natural Resources presently has a consensus rating of "Moderate Buy" and an average price target of $63.00.

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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