Drive Wealth Management LLC Has $373,000 Stake in Canadian Natural Resources Limited (NYSE:CNQ)

Drive Wealth Management LLC lowered its position in Canadian Natural Resources Limited (NYSE:CNQ) (TSE:CNQ) by 9.0% during the third quarter, HoldingsChannel reports. The institutional investor owned 11,097 shares of the oil and gas producer’s stock after selling 1,100 shares during the period. Drive Wealth Management LLC’s holdings in Canadian Natural Resources were worth $373,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Thrivent Financial for Lutherans raised its holdings in Canadian Natural Resources by 49.3% during the third quarter. Thrivent Financial for Lutherans now owns 9,313 shares of the oil and gas producer’s stock valued at $309,000 after buying an additional 3,076 shares in the last quarter. Sather Financial Group Inc bought a new position in shares of Canadian Natural Resources in the 3rd quarter valued at approximately $312,000. Natixis Advisors LLC lifted its holdings in Canadian Natural Resources by 13.7% in the 3rd quarter. Natixis Advisors LLC now owns 510,330 shares of the oil and gas producer’s stock worth $16,948,000 after purchasing an additional 61,473 shares during the last quarter. Coastline Trust Co acquired a new stake in Canadian Natural Resources in the 3rd quarter worth approximately $33,000. Finally, Empowered Funds LLC boosted its position in Canadian Natural Resources by 8.9% during the third quarter. Empowered Funds LLC now owns 62,831 shares of the oil and gas producer’s stock worth $2,087,000 after purchasing an additional 5,151 shares during the period. 74.03% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

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

Canadian Natural Resources Stock Up 1.7 %

CNQ opened at $33.66 on Tuesday. The business has a 50 day moving average of $34.44 and a 200-day moving average of $35.44. The stock has a market capitalization of $71.04 billion, a price-to-earnings ratio of 13.07 and a beta of 1.50. The company has a current ratio of 0.84, a quick ratio of 0.53 and a debt-to-equity ratio of 0.21. Canadian Natural Resources Limited has a 1-year low of $29.45 and a 1-year high of $41.29.

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

Canadian Natural Resources Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, January 3rd. Investors of record on Friday, December 13th will be paid a dividend of $0.388 per share. This represents a $1.55 annualized dividend and a yield of 4.61%. This is a positive change from Canadian Natural Resources’s previous quarterly dividend of $0.38. The ex-dividend date is Friday, December 13th. Canadian Natural Resources’s payout ratio is currently 60.58%.

About Canadian Natural Resources

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).