Dupree Financial Group LLC Has $4.16 Million Stake in Canadian Natural Resources Limited $CNQ

Key Points

• Dupree Financial Group LLC reduced its stake in Canadian Natural Resources Limited by 48.2%, holding 132,468 shares valued at $4.16 million as of the latest SEC filing.
• Canadian Natural Resources announced a quarterly dividend of $0.4269 per share, reflecting an increase from the previous quarter and resulting in a 5.7% dividend yield.
• The company's consensus rating is "Moderate Buy" with an average price target of $62.00, supported by recent evaluations from multiple analysts.

Dupree Financial Group LLC trimmed its position in Canadian Natural Resources Limited (NYSE:CNQ - Free Report) TSE: CNQ by 48.2% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 132,468 shares of the oil and gas producer's stock after selling 123,443 shares during the period. Canadian Natural Resources makes up approximately 1.6% of Dupree Financial Group LLC's investment portfolio, making the stock its 26th largest holding. Dupree Financial Group LLC's holdings in Canadian Natural Resources were worth $4,160,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. Whittier Trust Co. raised its position in Canadian Natural Resources by 10.4% in the 2nd quarter. Whittier Trust Co. now owns 52,446 shares of the oil and gas producer's stock valued at $1,646,000 after buying an additional 4,926 shares during the last quarter. DekaBank Deutsche Girozentrale boosted its position in Canadian Natural Resources by 1.9% during the 2nd quarter. DekaBank Deutsche Girozentrale now owns 1,427,745 shares of the oil and gas producer's stock worth $45,252,000 after acquiring an additional 27,129 shares during the last quarter. Journey Advisory Group LLC bought a new position in shares of Canadian Natural Resources during the 2nd quarter worth approximately $2,458,000. Lorne Steinberg Wealth Management Inc. grew its stake in shares of Canadian Natural Resources by 2.0% during the 2nd quarter. Lorne Steinberg Wealth Management Inc. now owns 87,210 shares of the oil and gas producer's stock worth $2,743,000 after acquiring an additional 1,675 shares in the last quarter. Finally, Cidel Asset Management Inc. raised its holdings in shares of Canadian Natural Resources by 0.4% in the second quarter. Cidel Asset Management Inc. now owns 153,713 shares of the oil and gas producer's stock valued at $4,821,000 after purchasing an additional 634 shares during the last quarter. 74.03% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

CNQ has been the subject of several recent research reports. National Bankshares restated a "sector perform" rating on shares of Canadian Natural Resources in a report on Thursday, July 17th. Wells Fargo & Company raised shares of Canadian Natural Resources to a "hold" rating in a research report on Thursday, October 16th. Weiss Ratings restated a "hold (c)" rating on shares of Canadian Natural Resources in a research note on Wednesday, October 8th. Raymond James Financial restated an "outperform" rating on shares of Canadian Natural Resources in a report on Friday, August 8th. Finally, Scotiabank reiterated an "outperform" rating on shares of Canadian Natural Resources in a report on Thursday, October 9th. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and four have issued a Hold rating to the company's stock. According to data from MarketBeat, Canadian Natural Resources currently has a consensus rating of "Moderate Buy" and an average price target of $62.00.

Canadian Natural Resources Trading Down 0.1%

Shares of NYSE:CNQ opened at $30.10 on Tuesday. The company has a 50-day simple moving average of $31.32 and a 200 day simple moving average of $30.87. The company has a market capitalization of $62.82 billion, a P/E ratio of 10.67 and a beta of 0.97. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.54 and a current ratio of 0.85. Canadian Natural Resources Limited has a 52-week low of $24.65 and a 52-week high of $35.93.

Canadian Natural Resources (NYSE:CNQ - Get Free Report) TSE: CNQ last released its quarterly earnings data 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 quarter in the prior year, the company earned $0.88 earnings per share. Sell-side analysts forecast that Canadian Natural Resources Limited will post 2.45 earnings per share for the current year.

Canadian Natural Resources Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, October 3rd. Stockholders of record on Friday, September 19th were paid a dividend of $0.4269 per share. The ex-dividend date was Friday, September 19th. This represents a $1.71 dividend on an annualized basis and a dividend yield of 5.7%. This is a boost from Canadian Natural Resources's previous quarterly dividend of $0.42. Canadian Natural Resources's dividend payout ratio is 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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