Lane & Associates LLC Has $255,000 Holdings in Canadian Natural Resources Limited (NYSE:CNQ)

Lane & Associates LLC increased its stake in shares of Canadian Natural Resources Limited (NYSE:CNQ) (TSE:CNQ) by 9.1% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 7,674 shares of the oil and gas producer’s stock after purchasing an additional 640 shares during the period. Lane & Associates LLC’s holdings in Canadian Natural Resources were worth $255,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Park Place Capital Corp grew its stake in shares of Canadian Natural Resources by 100.0% during the second quarter. Park Place Capital Corp now owns 716 shares of the oil and gas producer’s stock worth $25,000 after purchasing an additional 358 shares during the period. RFP Financial Group LLC lifted its holdings in Canadian Natural Resources by 98.3% during the second quarter. RFP Financial Group LLC now owns 710 shares of the oil and gas producer’s stock worth $25,000 after acquiring an additional 352 shares in the last quarter. Sugarloaf Wealth Management LLC lifted its holdings in Canadian Natural Resources by 100.0% during the second quarter. Sugarloaf Wealth Management LLC now owns 728 shares of the oil and gas producer’s stock worth $26,000 after acquiring an additional 364 shares in the last quarter. Bruce G. Allen Investments LLC lifted its holdings in Canadian Natural Resources by 91.6% during the second quarter. Bruce G. Allen Investments LLC now owns 868 shares of the oil and gas producer’s stock worth $31,000 after acquiring an additional 415 shares in the last quarter. Finally, GAMMA Investing LLC lifted its holdings in Canadian Natural Resources by 104.7% during the second quarter. GAMMA Investing LLC now owns 874 shares of the oil and gas producer’s stock worth $31,000 after acquiring an additional 447 shares in the last quarter. 74.03% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on CNQ shares. Desjardins upgraded Canadian Natural Resources from a “hold” rating to a “moderate buy” rating in a report on Tuesday, October 8th. StockNews.com lowered Canadian Natural Resources from a “buy” rating to a “hold” rating in a report on Friday, August 23rd. Five investment analysts have rated the stock with a hold rating, Based on data from MarketBeat.com, Canadian Natural Resources has an average rating of “Hold” and an average price target of $51.00.

Canadian Natural Resources Price Performance

NYSE:CNQ opened at $34.84 on Friday. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.53 and a current ratio of 0.84. The stock’s 50-day simple moving average is $34.59 and its 200 day simple moving average is $35.35. The company has a market cap of $73.53 billion, a P/E ratio of 13.53 and a beta of 1.50. Canadian Natural Resources Limited has a 52-week low of $29.45 and a 52-week high of $41.29.

Canadian Natural Resources (NYSE:CNQ) (TSE:CNQ) last released its earnings results on Thursday, October 31st. The oil and gas producer reported $0.97 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.67 by $0.30. The business had revenue of $7.62 billion for the quarter, compared to the consensus estimate of $6.40 billion. Canadian Natural Resources had a return on equity of 20.07% and a net margin of 18.45%. During the same quarter in the previous year, the business earned $0.96 earnings per share. As a group, sell-side analysts forecast that Canadian Natural Resources Limited will post 2.44 EPS for the current fiscal year.

Canadian Natural Resources Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 3rd. Shareholders of record on Friday, December 13th will be given a dividend of $0.388 per share. This represents a $1.55 dividend on an annualized basis and a yield of 4.45%. The ex-dividend date is Friday, December 13th. This is an increase from Canadian Natural Resources’s previous quarterly dividend of $0.38. Canadian Natural Resources’s payout ratio is 60.58%.

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).