Verity & Verity LLC Grows Stock Position in Canadian Natural Resources Limited (NYSE:CNQ)

Verity & Verity LLC grew its position in shares of Canadian Natural Resources Limited (NYSE:CNQ) (TSE:CNQ) by 12.0% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 297,487 shares of the oil and gas producer’s stock after purchasing an additional 31,935 shares during the period. Verity & Verity LLC’s holdings in Canadian Natural Resources were worth $9,183,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Continuum Advisory LLC increased its stake in Canadian Natural Resources by 144.1% during the 3rd quarter. Continuum Advisory LLC now owns 830 shares of the oil and gas producer’s stock worth $28,000 after buying an additional 490 shares during the period. Coastline Trust Co acquired a new stake in shares of Canadian Natural Resources during the third quarter valued at about $33,000. Wilmington Savings Fund Society FSB purchased a new stake in shares of Canadian Natural Resources during the third quarter worth about $37,000. Sound Income Strategies LLC acquired a new position in shares of Canadian Natural Resources in the third quarter worth about $46,000. Finally, First Horizon Advisors Inc. boosted its holdings in Canadian Natural Resources by 58.4% in the third quarter. First Horizon Advisors Inc. now owns 1,432 shares of the oil and gas producer’s stock valued at $48,000 after purchasing an additional 528 shares during the last quarter. 74.03% of the stock is owned by institutional investors and hedge funds.

Canadian Natural Resources Price Performance

Shares of CNQ stock opened at $31.11 on Friday. The firm has a fifty day moving average of $32.24 and a two-hundred day moving average of $34.05. The firm has a market cap of $65.44 billion, a P/E ratio of 12.08 and a beta of 1.46. Canadian Natural Resources Limited has a 1-year low of $29.23 and a 1-year high of $41.29. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.84 and a quick ratio of 0.53.

Canadian Natural Resources (NYSE:CNQ) (TSE:CNQ) last posted its quarterly earnings results on Thursday, October 31st. The oil and gas producer reported $0.97 EPS for the quarter, topping analysts’ consensus estimates of $0.67 by $0.30. The business had revenue of $7.62 billion during 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 period last year, the firm earned $0.96 earnings per share. As a group, research analysts anticipate that Canadian Natural Resources Limited will post 2.42 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Separately, Desjardins upgraded Canadian Natural Resources from a “hold” rating to a “moderate buy” rating in a report on Tuesday, October 8th. Four analysts have rated the stock with a hold rating, According to data from MarketBeat.com, the company presently has a consensus rating of “Hold”.

Canadian Natural Resources 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).