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

Plancorp LLC boosted its holdings in shares of Canadian Natural Resources Limited (NYSE:CNQ) (TSE:CNQ) by 100.0% during the 2nd quarter, Holdings Channel reports. The fund owned 7,330 shares of the oil and gas producer’s stock after buying an additional 3,665 shares during the period. Plancorp LLC’s holdings in Canadian Natural Resources were worth $261,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the business. Envestnet Portfolio Solutions Inc. boosted its stake in shares of 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 in the last quarter. Bruce G. Allen Investments LLC lifted its holdings in Canadian Natural Resources by 117.8% during the first quarter. Bruce G. Allen Investments LLC now owns 453 shares of the oil and gas producer’s stock worth $35,000 after buying an additional 245 shares during the period. Cloverfields Capital Group LP boosted its position in Canadian Natural Resources by 0.8% during the 1st quarter. Cloverfields Capital Group LP now owns 32,017 shares of the oil and gas producer’s stock valued at $2,444,000 after acquiring an additional 253 shares in the last quarter. EverSource Wealth Advisors LLC increased its holdings in shares of Canadian Natural Resources by 11.8% in the 4th quarter. EverSource Wealth Advisors LLC now owns 2,430 shares of the oil and gas producer’s stock valued at $159,000 after acquiring an additional 256 shares during the period. Finally, Naples Global Advisors LLC raised its position in shares of Canadian Natural Resources by 4.5% in the 1st 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 in the last quarter. Hedge funds and other institutional investors own 74.03% of the company’s stock.

Canadian Natural Resources Stock Performance

CNQ opened at $32.85 on Wednesday. The company has a market cap of $69.90 billion, a P/E ratio of 13.09 and a beta of 1.51. 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 firm’s 50-day moving average price is $34.95 and its 200-day moving average price is $36.46. Canadian Natural Resources Limited has a 52-week low of $29.45 and a 52-week high of $41.29.

Canadian Natural Resources (NYSE:CNQ) (TSE:CNQ) last issued its quarterly 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. Canadian Natural Resources had a net margin of 18.05% and a return on equity of 22.09%. The business had revenue of $7.76 billion for the quarter, compared to analyst estimates of $6.19 billion. During the same quarter in the prior year, the business posted $0.43 EPS. As a group, equities analysts anticipate that Canadian Natural Resources Limited will post 2.49 EPS for the current fiscal year.

Canadian Natural Resources Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, October 4th. Shareholders of record on Friday, September 13th will be given a dividend of $0.384 per share. The ex-dividend date is Friday, September 13th. This represents a $1.54 dividend on an annualized basis and a yield of 4.68%. Canadian Natural Resources’s dividend payout ratio is currently 61.75%.

Analyst Upgrades and Downgrades

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

About Canadian Natural Resources

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).