Trinity Legacy Partners LLC Sells 79,050 Shares of Canadian Natural Resources Limited $CNQ

Key Points

• Trinity Legacy Partners LLC significantly reduced its stake in Canadian Natural Resources Limited by 84.2%, selling 79,050 shares during the first quarter, bringing its holdings to 14,812 shares valued at $477,000.
• Despite the sell-off from Trinity Legacy, other institutional investors increased their stakes in Canadian Natural Resources, with notable purchases including Investment Management Corp VA ADV boosting theirs by 158.3%.
• The company plans to pay a quarterly dividend of $0.4269 on October 3rd, which marks an increase from their previous dividend, reflecting a 5.5% yield based on an annualized payout of $1.71.

Trinity Legacy Partners LLC lowered its stake in Canadian Natural Resources Limited (NYSE:CNQ - Free Report) TSE: CNQ by 84.2% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 14,812 shares of the oil and gas producer's stock after selling 79,050 shares during the quarter. Trinity Legacy Partners LLC's holdings in Canadian Natural Resources were worth $477,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. Investment Management Corp VA ADV lifted its stake in Canadian Natural Resources by 158.3% in the first quarter. Investment Management Corp VA ADV now owns 997 shares of the oil and gas producer's stock valued at $31,000 after buying an additional 611 shares in the last quarter. Versant Capital Management Inc lifted its stake in Canadian Natural Resources by 253.2% in the first quarter. Versant Capital Management Inc now owns 1,307 shares of the oil and gas producer's stock valued at $40,000 after buying an additional 937 shares in the last quarter. Sierra Ocean LLC lifted its stake in Canadian Natural Resources by 104.0% in the first quarter. Sierra Ocean LLC now owns 1,569 shares of the oil and gas producer's stock valued at $48,000 after buying an additional 800 shares in the last quarter. Opal Wealth Advisors LLC bought a new position in Canadian Natural Resources in the first quarter valued at approximately $56,000. Finally, Cloud Capital Management LLC bought a new stake in shares of Canadian Natural Resources in the first quarter worth $68,000. Institutional investors own 74.03% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on CNQ shares. National Bankshares reissued a "sector perform" rating on shares of Canadian Natural Resources in a research report on Thursday, July 17th. Scotiabank reissued an "outperform" rating on shares of Canadian Natural Resources in a research report on Friday, July 11th. Royal Bank Of Canada cut their price objective on shares of Canadian Natural Resources from $64.00 to $62.00 and set an "outperform" rating on the stock in a research report on Friday, August 8th. Finally, Raymond James Financial reissued an "outperform" rating on shares of Canadian Natural Resources in a research report on Friday, August 8th. Four equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $62.00.

Canadian Natural Resources Stock Performance

NYSE CNQ opened at $31.1050 on Friday. The company has a current ratio of 0.85, a quick ratio of 0.54 and a debt-to-equity ratio of 0.38. The firm's fifty day moving average price is $31.41 and its two-hundred day moving average price is $30.32. Canadian Natural Resources Limited has a 1 year low of $24.65 and a 1 year high of $37.91. The firm has a market capitalization of $64.98 billion, a P/E ratio of 11.03 and a beta of 1.05.

Canadian Natural Resources (NYSE:CNQ - Get Free Report) TSE: CNQ last posted its quarterly earnings results on Thursday, August 7th. The oil and gas producer reported $0.51 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.44 by $0.07. Canadian Natural Resources had a net margin of 19.00% and a return on equity of 19.67%. The firm had revenue of $6.39 billion for the quarter, compared to analyst estimates of $8.97 billion. During the same period in the prior year, the firm posted $0.88 earnings per share. As a group, research analysts anticipate that Canadian Natural Resources Limited will post 2.45 EPS for the current year.

Canadian Natural Resources Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 3rd. Stockholders of record on Friday, September 19th will be given a $0.4269 dividend. The ex-dividend date of this dividend is Friday, September 19th. This is a boost from Canadian Natural Resources's previous quarterly dividend of $0.42. This represents a $1.71 annualized dividend and a dividend yield of 5.5%. Canadian Natural Resources's payout ratio is currently 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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