Plancorp LLC Purchases 3,665 Shares of Canadian Natural Resources Limited (NYSE:CNQ)

Plancorp LLC grew its position in shares of Canadian Natural Resources Limited (NYSE:CNQ) (TSE:CNQ) by 100.0% in the second quarter, according to its most recent filing with the SEC. The fund owned 7,330 shares of the oil and gas producer’s stock after acquiring an additional 3,665 shares during the quarter. Plancorp LLC’s holdings in Canadian Natural Resources were worth $261,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Envestnet Portfolio Solutions Inc. lifted its position in Canadian Natural Resources by 0.9% during the first quarter. Envestnet Portfolio Solutions Inc. now owns 21,774 shares of the oil and gas producer’s stock valued at $1,662,000 after purchasing an additional 204 shares during the last quarter. Bruce G. Allen Investments LLC lifted its holdings in shares of Canadian Natural Resources by 117.8% in the 1st quarter. Bruce G. Allen Investments LLC now owns 453 shares of the oil and gas producer’s stock valued at $35,000 after acquiring an additional 245 shares during the last quarter. Cloverfields Capital Group LP grew its position in Canadian Natural Resources by 0.8% in the first quarter. Cloverfields Capital Group LP now owns 32,017 shares of the oil and gas producer’s stock worth $2,444,000 after acquiring an additional 253 shares in the last quarter. EverSource Wealth Advisors LLC increased its stake in Canadian Natural Resources by 11.8% during the fourth quarter. EverSource Wealth Advisors LLC now owns 2,430 shares of the oil and gas producer’s stock worth $159,000 after acquiring an additional 256 shares during the last quarter. Finally, Naples Global Advisors LLC increased its stake in Canadian Natural Resources by 4.5% during the first quarter. Naples Global Advisors LLC now owns 6,410 shares of the oil and gas producer’s stock worth $494,000 after acquiring an additional 277 shares during the last quarter. 74.03% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on CNQ. Scotiabank reiterated a “sector perform” rating on shares of Canadian Natural Resources in a report on Tuesday, June 11th. Raymond James raised shares of Canadian Natural Resources to a “hold” rating in a research note on Tuesday, May 28th. StockNews.com downgraded shares of Canadian Natural Resources from a “buy” rating to a “hold” rating in a research note on Friday, August 23rd. Finally, Wolfe Research started coverage on shares of Canadian Natural Resources in a research note on Thursday, July 18th. They set a “peer perform” rating for the company. Six research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat, Canadian Natural Resources has an average rating of “Hold” and an average price target of $49.50.

Canadian Natural Resources Price Performance

CNQ opened at $32.85 on Wednesday. The company has a quick ratio of 0.59, a current ratio of 0.88 and a debt-to-equity ratio of 0.24. The business has a fifty day moving average of $34.95 and a 200 day moving average of $36.46. Canadian Natural Resources Limited has a 52-week low of $29.45 and a 52-week high of $41.29. The stock has a market cap of $69.90 billion, a P/E ratio of 13.09 and a beta of 1.51.

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

Canadian Natural Resources Cuts Dividend

The business also recently announced 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. This represents a $1.54 dividend on an annualized basis and a dividend yield of 4.68%. The ex-dividend date of this dividend is Friday, September 13th. Canadian Natural Resources’s dividend payout ratio (DPR) is presently 61.75%.

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).