Canadian Natural Resources Limited (NYSE:CNQ) Position Boosted by Financial Perspectives Inc

Financial Perspectives Inc boosted its holdings in Canadian Natural Resources Limited (NYSE:CNQ) (TSE:CNQ) by 100.4% during the 2nd quarter, Holdings Channel reports. The fund 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 Securities and Exchange Commission (SEC).

A number of other institutional investors also recently added to or reduced their stakes in the business. Park Place Capital Corp increased its holdings in shares of Canadian Natural Resources by 100.0% during the second quarter. Park Place Capital Corp now owns 716 shares of the oil and gas producer’s stock valued at $25,000 after purchasing an additional 358 shares during the period. RFP Financial Group LLC increased its stake in Canadian Natural Resources by 98.3% during the 2nd quarter. RFP Financial Group LLC now owns 710 shares of the oil and gas producer’s stock valued at $25,000 after buying an additional 352 shares during the period. Sugarloaf Wealth Management LLC raised its position in shares of Canadian Natural Resources by 100.0% during the 2nd quarter. Sugarloaf Wealth Management LLC now owns 728 shares of the oil and gas producer’s stock worth $26,000 after buying an additional 364 shares in the last quarter. Bruce G. Allen Investments LLC lifted its stake in shares of Canadian Natural Resources by 91.6% in the 2nd quarter. Bruce G. Allen Investments LLC now owns 868 shares of the oil and gas producer’s stock worth $31,000 after acquiring an additional 415 shares during the period. Finally, GAMMA Investing LLC boosted its holdings in shares of Canadian Natural Resources by 104.7% in the second quarter. GAMMA Investing LLC now owns 874 shares of the oil and gas producer’s stock valued at $31,000 after acquiring an additional 447 shares in the last quarter. Institutional investors and hedge funds own 74.03% of the company’s stock.

Canadian Natural Resources Stock Down 2.1 %

CNQ stock opened at $31.97 on Monday. The company has a 50 day moving average of $35.07 and a two-hundred day moving average of $36.50. The company has a market cap of $68.03 billion, a price-to-earnings ratio of 12.74 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 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 data 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 during the quarter, compared to analyst estimates of $6.19 billion. During the same period last year, the company earned $0.43 earnings per share. On average, equities analysts anticipate 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. Investors of record on Friday, September 13th will be issued a $0.384 dividend. The ex-dividend date of this dividend is Friday, September 13th. This represents a $1.54 dividend on an annualized basis and a yield of 4.80%. Canadian Natural Resources’s dividend payout ratio is currently 61.75%.

Analyst Ratings Changes

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

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).