Checchi Capital Advisers LLC Takes $212,000 Position in Canadian Natural Resource Ltd (CNQ)

Checchi Capital Advisers LLC acquired a new position in shares of Canadian Natural Resource Ltd (NYSE:CNQ) (TSE:CNQ) in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 6,483 shares of the oil and gas producer’s stock, valued at approximately $212,000.

Several other hedge funds and other institutional investors have also modified their holdings of the company. K.J. Harrison & Partners Inc acquired a new position in shares of Canadian Natural Resource during the third quarter worth approximately $373,000. Russell Investments Group Ltd. boosted its position in shares of Canadian Natural Resource by 34.3% during the third quarter. Russell Investments Group Ltd. now owns 3,672,550 shares of the oil and gas producer’s stock worth $119,548,000 after buying an additional 938,706 shares during the period. Massachusetts Financial Services Co. MA boosted its position in shares of Canadian Natural Resource by 2.0% during the third quarter. Massachusetts Financial Services Co. MA now owns 2,838,845 shares of the oil and gas producer’s stock worth $92,717,000 after buying an additional 56,222 shares during the period. Lenox Wealth Management Inc. boosted its position in shares of Canadian Natural Resource by 27,736.1% during the third quarter. Lenox Wealth Management Inc. now owns 10,021 shares of the oil and gas producer’s stock worth $360,000 after buying an additional 9,985 shares during the period. Finally, Seven Eight Capital LP acquired a new position in shares of Canadian Natural Resource during the third quarter worth approximately $797,000. Institutional investors and hedge funds own 67.07% of the company’s stock.

CNQ has been the subject of several analyst reports. ValuEngine downgraded Canadian Natural Resource from a “hold” rating to a “sell” rating in a research report on Thursday, August 2nd. Macquarie downgraded Canadian Natural Resource from an “outperform” rating to a “neutral” rating in a research report on Tuesday, October 9th. Royal Bank of Canada downgraded Canadian Natural Resource from a “top pick” rating to an “outperform” rating and set a $38.40 price objective for the company. in a research report on Thursday, September 20th. They noted that the move was a valuation call. Zacks Investment Research downgraded Canadian Natural Resource from a “hold” rating to a “sell” rating in a research report on Wednesday, October 3rd. Finally, CIBC assumed coverage on Canadian Natural Resource in a research report on Friday, October 5th. They issued a “sector outperform” rating for the company. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and six have given a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average price target of $48.68.



CNQ opened at $27.71 on Wednesday. The company has a market capitalization of $34.19 billion, a price-to-earnings ratio of 33.39, a PEG ratio of 1.93 and a beta of 1.23. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.02 and a quick ratio of 0.81. Canadian Natural Resource Ltd has a 1-year low of $26.90 and a 1-year high of $38.20.

Canadian Natural Resource (NYSE:CNQ) (TSE:CNQ) last released its earnings results on Thursday, August 2nd. The oil and gas producer reported $1.04 earnings per share for the quarter, topping analysts’ consensus estimates of $0.54 by $0.50. The firm had revenue of $4.61 billion during the quarter, compared to the consensus estimate of $4.28 billion. Canadian Natural Resource had a return on equity of 8.35% and a net margin of 12.34%. During the same period in the prior year, the firm posted $0.29 earnings per share. On average, analysts predict that Canadian Natural Resource Ltd will post 2.57 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Monday, October 1st. Shareholders of record on Friday, September 14th were given a $0.257 dividend. The ex-dividend date of this dividend was Thursday, September 13th. This represents a $1.03 dividend on an annualized basis and a yield of 3.71%. Canadian Natural Resource’s dividend payout ratio (DPR) is 124.10%.

Canadian Natural Resource Profile

Canadian Natural Resources Limited explores for, develops, produces, and markets 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, and synthetic crude oil (SCO). Its midstream assets include two crude oil pipeline systems; and a 50% working interest in an 84-megawatt cogeneration plant at Primrose.

Recommended Story: How is the S&P 500 index different from the DJIA?

Institutional Ownership by Quarter for Canadian Natural Resource (NYSE:CNQ)

Receive News & Ratings for Canadian Natural Resource Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Canadian Natural Resource and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply