Arcus Capital Partners LLC Makes New Investment in Canadian Natural Resources Limited $CNQ

Arcus Capital Partners LLC acquired a new position in shares of Canadian Natural Resources Limited (NYSE:CNQ) (TSE:CNQ) in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 26,109 shares of the oil and gas producer’s stock, valued at approximately $834,000.

A number of other large investors have also recently made changes to their positions in CNQ. Ameritas Advisory Services LLC purchased a new position in Canadian Natural Resources in the 2nd quarter worth $27,000. Addison Advisors LLC grew its stake in Canadian Natural Resources by 309.1% during the 2nd quarter. Addison Advisors LLC now owns 896 shares of the oil and gas producer’s stock valued at $28,000 after purchasing an additional 677 shares during the last quarter. St. Johns Investment Management Company LLC acquired a new position in shares of Canadian Natural Resources in the third quarter valued at about $32,000. Nisa Investment Advisors LLC raised its stake in shares of Canadian Natural Resources by 100.0% in the third quarter. Nisa Investment Advisors LLC now owns 1,000 shares of the oil and gas producer’s stock worth $32,000 after purchasing an additional 500 shares during the last quarter. Finally, Geneos Wealth Management Inc. lifted its holdings in shares of Canadian Natural Resources by 47.3% during the first quarter. Geneos Wealth Management Inc. now owns 1,644 shares of the oil and gas producer’s stock worth $51,000 after purchasing an additional 528 shares during the period. 74.03% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on CNQ. Evercore ISI downgraded shares of Canadian Natural Resources from an “outperform” rating to an “in-line” rating in a report on Tuesday, January 6th. The Goldman Sachs Group set a $35.00 price objective on shares of Canadian Natural Resources and gave the stock a “buy” rating in a research note on Friday, January 2nd. Zacks Research downgraded shares of Canadian Natural Resources from a “strong-buy” rating to a “hold” rating in a research report on Friday, December 19th. Desjardins lowered shares of Canadian Natural Resources from a “buy” rating to a “hold” rating in a report on Monday, November 24th. Finally, Scotiabank reaffirmed an “outperform” rating on shares of Canadian Natural Resources in a research report on Thursday, October 9th. Five equities research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company’s stock. According to data from MarketBeat.com, Canadian Natural Resources currently has an average rating of “Hold” and an average target price of $48.50.

Canadian Natural Resources Trading Down 1.4%

Shares of CNQ stock opened at $35.46 on Friday. Canadian Natural Resources Limited has a 1-year low of $24.65 and a 1-year high of $36.11. The company has a market cap of $73.82 billion, a price-to-earnings ratio of 15.69 and a beta of 0.69. The company has a debt-to-equity ratio of 0.41, a current ratio of 0.86 and a quick ratio of 0.53. The stock has a 50 day simple moving average of $33.32 and a 200-day simple moving average of $32.06.

Canadian Natural Resources (NYSE:CNQ) (TSE:CNQ) last released its quarterly earnings results on Thursday, November 6th. The oil and gas producer reported $0.62 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.54 by $0.08. The firm had revenue of $6.79 billion for the quarter, compared to analysts’ expectations of $6.81 billion. Canadian Natural Resources had a net margin of 14.90% and a return on equity of 18.93%. During the same quarter last year, the company earned $0.97 EPS. On average, equities research analysts expect that Canadian Natural Resources Limited will post 2.45 EPS for the current fiscal year.

Canadian Natural Resources Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, January 6th. Stockholders of record on Friday, December 12th were paid a dividend of $0.5875 per share. This is an increase from Canadian Natural Resources’s previous quarterly dividend of $0.43. This represents a $2.35 dividend on an annualized basis and a dividend yield of 6.6%. The ex-dividend date of this dividend was Friday, December 12th. Canadian Natural Resources’s dividend payout ratio is presently 74.34%.

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.