WIT Partners Advisory Pte. Ltd. Raises Holdings in Canadian Natural Resources Limited $CNQ

WIT Partners Advisory Pte. Ltd. increased its holdings in Canadian Natural Resources Limited (NYSE:CNQ) (TSE:CNQ) by 332.2% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 41,487 shares of the oil and gas producer’s stock after buying an additional 31,887 shares during the period. Canadian Natural Resources comprises approximately 0.6% of WIT Partners Advisory Pte. Ltd.’s investment portfolio, making the stock its 11th biggest holding. WIT Partners Advisory Pte. Ltd.’s holdings in Canadian Natural Resources were worth $2,022,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. AQR Capital Management LLC boosted its position in Canadian Natural Resources by 85.5% during the 1st quarter. AQR Capital Management LLC now owns 18,090 shares of the oil and gas producer’s stock valued at $557,000 after acquiring an additional 8,336 shares in the last quarter. Jones Financial Companies Lllp increased its holdings in shares of Canadian Natural Resources by 92.7% in the 1st quarter. Jones Financial Companies Lllp now owns 29,096 shares of the oil and gas producer’s stock valued at $896,000 after acquiring an additional 13,996 shares during the period. Empowered Funds LLC increased its holdings in shares of Canadian Natural Resources by 4.3% in the 1st quarter. Empowered Funds LLC now owns 79,374 shares of the oil and gas producer’s stock valued at $2,445,000 after acquiring an additional 3,266 shares during the period. Geneos Wealth Management Inc. raised its position in shares of Canadian Natural Resources by 47.3% in the 1st quarter. Geneos Wealth Management Inc. now owns 1,644 shares of the oil and gas producer’s stock worth $51,000 after acquiring an additional 528 shares in the last quarter. Finally, EverSource Wealth Advisors LLC raised its position in shares of Canadian Natural Resources by 65.5% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 4,513 shares of the oil and gas producer’s stock worth $142,000 after acquiring an additional 1,786 shares in the last quarter. Hedge funds and other institutional investors own 74.03% of the company’s stock.

Canadian Natural Resources Price Performance

Shares of CNQ opened at $42.85 on Friday. The company has a 50 day moving average of $44.11 and a two-hundred day moving average of $42.78. The company has a quick ratio of 0.68, a current ratio of 0.98 and a debt-to-equity ratio of 0.37. Canadian Natural Resources Limited has a twelve month low of $29.30 and a twelve month high of $51.34. The company has a market cap of $88.95 billion, a price-to-earnings ratio of 12.79 and a beta of 0.47.

Canadian Natural Resources (NYSE:CNQ) (TSE:CNQ) last issued its quarterly earnings results on Thursday, May 7th. The oil and gas producer reported $0.85 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.74 by $0.11. Canadian Natural Resources had a return on equity of 17.49% and a net margin of 22.04%.The business had revenue of $7.72 billion for the quarter, compared to the consensus estimate of $7.57 billion. During the same period in the prior year, the firm posted $1.16 earnings per share. As a group, analysts predict that Canadian Natural Resources Limited will post 4.2 earnings per share for the current fiscal year.

Canadian Natural Resources Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, July 7th. Investors of record on Tuesday, June 23rd were paid a dividend of $0.625 per share. This represents a $2.50 annualized dividend and a yield of 5.8%. The ex-dividend date was Tuesday, June 23rd. Canadian Natural Resources’s payout ratio is 54.03%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on CNQ shares. Zacks Research cut Canadian Natural Resources from a “strong-buy” rating to a “hold” rating in a research note on Monday, June 8th. Scotiabank upgraded Canadian Natural Resources to a “hold” rating in a research note on Friday, June 26th. Raymond James Financial upgraded shares of Canadian Natural Resources from a “market perform” rating to an “outperform” rating in a report on Thursday, May 7th. Finally, Weiss Ratings lowered shares of Canadian Natural Resources from a “buy (b)” rating to a “buy (b-)” rating in a research report on Monday, May 11th. Six analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $57.00.

Canadian Natural Resources Profile

Canadian Natural Resources Limited (NYSE: CNQ) is a Calgary-based independent oil and natural gas exploration and production company. Established in the early 1970s and publicly listed in Canada and the United States, the company is principally engaged in the exploration, development, production, and marketing of crude oil, natural gas and natural gas liquids. Its asset base spans conventional and unconventional reservoirs and includes oil sands mining and in-situ thermal projects, midstream processing and upgrading capacity, and related field operations.

The company’s operations are concentrated in Western Canada, where it develops heavy crude, bitumen from oil sands and conventional light crude and natural gas resources.