Canadian Natural Resources Limited (NYSE:CNQ) Shares Bought by Financial Perspectives Inc

Financial Perspectives Inc increased its holdings in Canadian Natural Resources Limited (NYSE:CNQ) (TSE:CNQ) by 100.4% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 12,800 shares of the oil and gas producer’s stock after acquiring an additional 6,412 shares during the quarter. Financial Perspectives Inc’s holdings in Canadian Natural Resources were worth $456,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of CNQ. JBF Capital Inc. raised its position in shares of Canadian Natural Resources by 101.1% in the 2nd quarter. JBF Capital Inc. now owns 512,198 shares of the oil and gas producer’s stock valued at $18,234,000 after purchasing an additional 257,549 shares in the last quarter. Choreo LLC bought a new stake in shares of Canadian Natural Resources in the second quarter worth $746,000. Pacific Heights Asset Management LLC raised its holdings in Canadian Natural Resources by 100.0% in the second quarter. Pacific Heights Asset Management LLC now owns 320,000 shares of the oil and gas producer’s stock valued at $11,392,000 after acquiring an additional 160,000 shares in the last quarter. Commonwealth Equity Services LLC boosted its stake in Canadian Natural Resources by 100.2% during the 2nd quarter. Commonwealth Equity Services LLC now owns 168,270 shares of the oil and gas producer’s stock valued at $5,990,000 after acquiring an additional 84,232 shares during the last quarter. Finally, Royal London Asset Management Ltd. grew its holdings in Canadian Natural Resources by 63.4% during the 2nd quarter. Royal London Asset Management Ltd. now owns 748,801 shares of the oil and gas producer’s stock worth $26,657,000 after acquiring an additional 290,609 shares in the last quarter. Hedge funds and other institutional investors own 74.03% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on CNQ shares. StockNews.com lowered shares of Canadian Natural Resources from a “buy” rating to a “hold” rating in a research note on Friday, August 23rd. Wolfe Research assumed coverage on Canadian Natural Resources in a report on Thursday, July 18th. They set a “peer perform” rating on the stock. Raymond James upgraded Canadian Natural Resources to a “hold” rating in a report on Tuesday, May 28th. Finally, Scotiabank reissued a “sector perform” rating on shares of Canadian Natural Resources in a research report on Tuesday, June 11th. Six analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to MarketBeat, Canadian Natural Resources has a consensus rating of “Hold” and a consensus price target of $49.50.

Canadian Natural Resources Stock Performance

Shares of NYSE CNQ opened at $31.97 on Monday. The stock has a market capitalization of $68.03 billion, a P/E ratio of 12.74 and a beta of 1.51. The firm’s 50-day moving average price is $35.07 and its two-hundred day moving average price is $36.50. Canadian Natural Resources Limited has a 52-week low of $29.45 and a 52-week high of $41.29. The company has a quick ratio of 0.59, a current ratio of 0.88 and a debt-to-equity ratio of 0.24.

Canadian Natural Resources (NYSE:CNQ) (TSE:CNQ) last announced its quarterly earnings results on Thursday, August 1st. The oil and gas producer reported $0.88 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.62 by $0.26. Canadian Natural Resources had a return on equity of 22.09% and a net margin of 18.05%. The business had revenue of $7.76 billion for the quarter, compared to the consensus estimate of $6.19 billion. During the same quarter last year, the business posted $0.43 EPS. As a group, sell-side analysts forecast that Canadian Natural Resources Limited will post 2.49 earnings per share for the current year.

Canadian Natural Resources Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, October 4th. Stockholders of record on Friday, September 13th will be given a dividend of $0.384 per share. The ex-dividend date of this dividend is Friday, September 13th. This represents a $1.54 annualized dividend and a dividend yield of 4.80%. Canadian Natural Resources’s dividend payout ratio is currently 61.75%.

Canadian Natural Resources Company 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).