Knights of Columbus Asset Advisors LLC Cuts Holdings in Canadian Natural Resources Limited $CNQ

Key Points

• Knights of Columbus Asset Advisors LLC significantly reduced its holdings in Canadian Natural Resources Limited by 90.2% during the 2nd quarter, selling 91,078 shares and ending with 9,915 shares worth approximately $311,000.
• Institutional investors have shown varied activity in Canadian Natural Resources, with some increasing their stakes significantly; for instance, Adirondack Trust Co. boosted its stake by 317.1% in the 2nd quarter.
• The company has received mixed ratings from analysts, with a consensus rating of "Moderate Buy" and a price target of $62.00, reflecting ongoing interest in its stock performance.

Knights of Columbus Asset Advisors LLC trimmed its holdings in shares of Canadian Natural Resources Limited (NYSE:CNQ - Free Report) TSE: CNQ by 90.2% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 9,915 shares of the oil and gas producer's stock after selling 91,078 shares during the period. Knights of Columbus Asset Advisors LLC's holdings in Canadian Natural Resources were worth $311,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Ameritas Advisory Services LLC purchased a new stake in Canadian Natural Resources during the 2nd quarter valued at $27,000. Investment Management Corp VA ADV boosted its stake in Canadian Natural Resources by 158.3% during the 1st quarter. Investment Management Corp VA ADV now owns 997 shares of the oil and gas producer's stock valued at $31,000 after purchasing an additional 611 shares during the last quarter. Sierra Ocean LLC boosted its stake in Canadian Natural Resources by 104.0% during the 1st quarter. Sierra Ocean LLC now owns 1,569 shares of the oil and gas producer's stock valued at $48,000 after purchasing an additional 800 shares during the last quarter. Geneos Wealth Management Inc. boosted its stake in Canadian Natural Resources by 47.3% during the 1st quarter. Geneos Wealth Management Inc. now owns 1,644 shares of the oil and gas producer's stock valued at $51,000 after purchasing an additional 528 shares during the last quarter. Finally, Adirondack Trust Co. boosted its stake in shares of Canadian Natural Resources by 317.1% in the 2nd quarter. Adirondack Trust Co. now owns 1,710 shares of the oil and gas producer's stock worth $54,000 after buying an additional 1,300 shares during the last quarter. 74.03% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on CNQ shares. Weiss Ratings restated a "hold (c)" rating on shares of Canadian Natural Resources in a research note on Saturday, September 27th. TD Securities restated a "buy" rating on shares of Canadian Natural Resources in a research note on Tuesday, September 30th. Raymond James Financial restated an "outperform" rating on shares of Canadian Natural Resources in a research note on Friday, August 8th. Royal Bank Of Canada restated an "outperform" rating and issued a $62.00 price target on shares of Canadian Natural Resources in a research note on Wednesday, September 24th. Finally, National Bankshares restated a "sector perform" rating on shares of Canadian Natural Resources in a research note on Thursday, July 17th. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $62.00.

Canadian Natural Resources Price Performance

Shares of Canadian Natural Resources stock opened at $32.76 on Wednesday. Canadian Natural Resources Limited has a one year low of $24.65 and a one year high of $37.91. The stock's fifty day moving average is $31.29 and its 200 day moving average is $30.83. The stock has a market cap of $68.37 billion, a P/E ratio of 11.62 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 (NYSE:CNQ - Get Free Report) TSE: CNQ last announced its earnings results on Thursday, August 7th. The oil and gas producer reported $0.51 EPS for the quarter, topping 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 for the quarter, compared to analysts' expectations of $8.97 billion. During the same period last year, the firm earned $0.88 EPS. Sell-side analysts anticipate 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. Investors of record on Friday, September 19th were issued a $0.4269 dividend. The ex-dividend date of this dividend was Friday, September 19th. This represents a $1.71 dividend on an annualized basis and a yield of 5.2%. This is an increase from Canadian Natural Resources's previous quarterly dividend of $0.42. Canadian Natural Resources's payout ratio is 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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