Canadian Natural Resources Limited (NYSE:CNQ) Shares Acquired by Lane & Associates LLC

Lane & Associates LLC boosted its holdings in Canadian Natural Resources Limited (NYSE:CNQ) (TSE:CNQ) by 105.5% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 7,034 shares of the oil and gas producer’s stock after purchasing an additional 3,611 shares during the quarter. Lane & Associates LLC’s holdings in Canadian Natural Resources were worth $250,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. United Services Automobile Association increased its stake in shares of Canadian Natural Resources by 98.9% during the 2nd quarter. United Services Automobile Association now owns 1,261,706 shares of the oil and gas producer’s stock valued at $44,942,000 after acquiring an additional 627,388 shares during the last quarter. Choreo LLC acquired a new position in Canadian Natural Resources during the second quarter worth approximately $746,000. Prudential PLC acquired a new position in Canadian Natural Resources during the second quarter worth approximately $253,000. Connable Office Inc. raised its stake in Canadian Natural Resources by 91.5% during the second quarter. Connable Office Inc. now owns 23,892 shares of the oil and gas producer’s stock worth $851,000 after purchasing an additional 11,414 shares during the period. Finally, Pacific Heights Asset Management LLC boosted its holdings in shares of Canadian Natural Resources by 100.0% in the 2nd 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 purchasing an additional 160,000 shares during the last quarter. 74.03% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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

Canadian Natural Resources Trading Up 0.8 %

NYSE:CNQ opened at $33.49 on Tuesday. The business’s 50-day moving average is $35.38 and its two-hundred day moving average is $36.52. The firm has a market capitalization of $71.09 billion, a PE ratio of 13.34 and a beta of 1.51. Canadian Natural Resources Limited has a 12 month low of $29.45 and a 12 month high of $41.29. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.88 and a quick ratio of 0.59.

Canadian Natural Resources (NYSE:CNQ) (TSE:CNQ) last posted its earnings results on Thursday, August 1st. The oil and gas producer reported $0.88 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.62 by $0.26. The business had revenue of $7.76 billion during the quarter, compared to analyst estimates of $6.19 billion. Canadian Natural Resources had a return on equity of 22.09% and a net margin of 18.05%. During the same quarter last year, the firm earned $0.43 earnings per share. Research analysts predict that Canadian Natural Resources Limited will post 2.49 earnings per share for the current fiscal year.

Canadian Natural Resources Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 4th. Stockholders of record on Friday, September 13th will be paid a dividend of $0.384 per share. The ex-dividend date of this dividend is Friday, September 13th. This represents a $1.54 dividend on an annualized basis and a dividend yield of 4.59%. Canadian Natural Resources’s dividend payout ratio is currently 61.35%.

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).