Exencial Wealth Advisors LLC Sells 19,510 Shares of Canadian Natural Resources Limited $CNQ

Key Points

• Exencial Wealth Advisors LLC reduced its stake in Canadian Natural Resources Limited by 4.1%, now holding 455,533 shares valued at $14.3 million.
• The company recently increased its quarterly dividend to $0.4269 per share, with an annualized yield of 5.7%.
• Canadian Natural Resources reported earnings of $0.51 per share, exceeding analyst estimates of $0.44, with a revenue of $6.39 billion for the latest quarter.

Exencial Wealth Advisors LLC trimmed its stake in shares of Canadian Natural Resources Limited (NYSE:CNQ - Free Report) TSE: CNQ by 4.1% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 455,533 shares of the oil and gas producer's stock after selling 19,510 shares during the quarter. Exencial Wealth Advisors LLC's holdings in Canadian Natural Resources were worth $14,304,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also bought and sold shares of CNQ. Brandywine Global Investment Management LLC boosted its holdings in shares of Canadian Natural Resources by 27.5% during the 1st quarter. Brandywine Global Investment Management LLC now owns 2,183,598 shares of the oil and gas producer's stock valued at $67,201,000 after buying an additional 470,391 shares in the last quarter. Sagespring Wealth Partners LLC purchased a new position in Canadian Natural Resources during the second quarter valued at $361,000. Sei Investments Co. raised its stake in Canadian Natural Resources by 41.9% during the first quarter. Sei Investments Co. now owns 49,307 shares of the oil and gas producer's stock valued at $1,519,000 after buying an additional 14,561 shares during the last quarter. TD Asset Management Inc raised its stake in Canadian Natural Resources by 0.8% during the second quarter. TD Asset Management Inc now owns 41,581,125 shares of the oil and gas producer's stock valued at $1,304,267,000 after buying an additional 316,933 shares during the last quarter. Finally, Addenda Capital Inc. raised its stake in Canadian Natural Resources by 11.0% during the second quarter. Addenda Capital Inc. now owns 2,370,885 shares of the oil and gas producer's stock valued at $74,446,000 after buying an additional 235,198 shares during the last quarter. 74.03% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

CNQ has been the subject of a number of recent research reports. Weiss Ratings reiterated a "hold (c)" rating on shares of Canadian Natural Resources in a research note on Wednesday, October 8th. Wells Fargo & Company upgraded Canadian Natural Resources to a "hold" rating in a research note on Thursday, October 16th. National Bankshares reiterated a "sector perform" rating on shares of Canadian Natural Resources in a research note on Thursday, July 17th. TD Securities restated a "buy" rating on shares of Canadian Natural Resources in a research note on Tuesday, September 30th. Finally, Royal Bank Of Canada reiterated an "outperform" rating and set a $62.00 price objective on shares of Canadian Natural Resources in a research report on Wednesday, September 24th. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat, Canadian Natural Resources currently has an average rating of "Moderate Buy" and an average price target of $62.00.

Canadian Natural Resources Stock Down 0.6%

Shares of CNQ opened at $29.91 on Wednesday. The business's 50 day moving average is $31.32 and its 200 day moving average is $30.86. The company has a market capitalization of $62.42 billion, a PE ratio of 10.61 and a beta of 0.97. Canadian Natural Resources Limited has a 12-month low of $24.65 and a 12-month high of $35.85. 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 announced its quarterly earnings results on Thursday, August 7th. The oil and gas producer reported $0.51 EPS for the quarter, beating analysts' consensus estimates of $0.44 by $0.07. Canadian Natural Resources had a return on equity of 19.67% and a net margin of 19.00%.The company had revenue of $6.39 billion during the quarter, compared to analyst estimates of $8.97 billion. During the same period in the prior year, the company earned $0.88 earnings per share. Research analysts expect that Canadian Natural Resources Limited will post 2.45 earnings per share for the current fiscal year.

Canadian Natural Resources Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, October 3rd. Investors of record on Friday, September 19th were paid a dividend of $0.4269 per share. The ex-dividend date of this dividend was Friday, September 19th. This is a boost from Canadian Natural Resources's previous quarterly dividend of $0.42. This represents a $1.71 dividend on an annualized basis and a yield of 5.7%. Canadian Natural Resources's dividend payout ratio is currently 60.64%.

About Canadian Natural Resources

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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