Sun Sep 15 15:44:54 UTC 2024: ## HBK Sorce Advisory LLC Increases Stake in Canadian Natural Resources Amid Positive Earnings

**Calgary, Canada – September 15, 2024** – HBK Sorce Advisory LLC, a prominent investment firm, significantly increased its holdings in Canadian Natural Resources Limited (CNQ) during the second quarter, according to the company’s latest 13F filing. The fund acquired an additional 6,692 shares, boosting its stake in the oil and gas producer by 99.7%.

This move comes as other hedge funds and institutional investors also demonstrate growing confidence in CNQ. Envestnet Portfolio Solutions Inc., Bruce G. Allen Investments LLC, Cloverfields Capital Group LP, EverSource Wealth Advisors LLC, and Naples Global Advisors LLC all increased their positions in the company during recent quarters, with institutional ownership reaching 74.03%.

CNQ’s recent positive earnings performance is likely driving this bullish sentiment. The company reported a strong second quarter, exceeding analyst expectations for both earnings per share and revenue. CNQ’s strong performance aligns with a favorable market environment for oil and gas producers.

Analysts remain generally optimistic about CNQ’s future prospects. While some analysts have lowered their ratings, others have initiated coverage with positive outlooks. The current average rating for CNQ is “Hold,” with a consensus price target of $49.50.

The company also recently declared a quarterly dividend of $0.384 per share, representing a yield of 4.80%.

Canadian Natural Resources Limited is a major player in the energy sector, operating across the entire value chain from exploration and production to marketing and sales. The company produces various types of crude oil, natural gas, and NGLs, making it a key player in the global energy market.

With its strong financial performance, favorable market outlook, and growing institutional interest, CNQ appears well-positioned for continued success in the oil and gas sector.

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