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Envestnet Asset Management Inc. Increases Stake in Canadian Natural Resources Ltd (NYSE:CNQ)

By September 6, 2019 No Comments

Envestnet Asset Management Inc. lifted its holdings in Canadian Natural Resources Ltd (NYSE:CNQ) (TSE:CNQ) by 3.4% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 113,177 shares of the oil and gas producer’s stock after buying an additional 3,670 shares during the quarter. Envestnet Asset Management Inc.’s holdings in Canadian Natural Resources were worth $3,052,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of CNQ. Signaturefd LLC raised its holdings in shares of Canadian Natural Resources by 5.5% in the first quarter. Signaturefd LLC now owns 8,130 shares of the oil and gas producer’s stock worth $224,000 after acquiring an additional 421 shares during the last quarter. Brandywine Oak Private Wealth LLC grew its position in Canadian Natural Resources by 4.3% during the first quarter. Brandywine Oak Private Wealth LLC now owns 14,402 shares of the oil and gas producer’s stock valued at $396,000 after acquiring an additional 590 shares during the period. Wetherby Asset Management Inc. boosted its position in shares of Canadian Natural Resources by 3.8% in the first quarter. Wetherby Asset Management Inc. now owns 21,933 shares of the oil and gas producer’s stock worth $603,000 after buying an additional 808 shares during the period. Zions Bancorporation N.A. purchased a new stake in shares of Canadian Natural Resources in the first quarter worth about $28,000. Finally, Quadrant Capital Group LLC boosted its position in shares of Canadian Natural Resources by 7.8% in the second quarter. Quadrant Capital Group LLC now owns 13,985 shares of the oil and gas producer’s stock worth $366,000 after buying an additional 1,015 shares during the period. Institutional investors own 65.83% of the company’s stock.

A number of research analysts recently commented on the company. Royal Bank of Canada reissued an “average” rating and issued a $45.00 price target on shares of Canadian Natural Resources in a report on Friday, May 10th. Zacks Investment Research downgraded Canadian Natural Resources from a “buy” rating to a “hold” rating and set a $28.00 price target for the company. in a report on Monday, July 22nd. Canaccord Genuity restated a “buy” rating and set a $53.00 price objective on shares of Canadian Natural Resources in a research note on Tuesday, July 9th. Wells Fargo & Co cut Canadian Natural Resources from a “market perform” rating to an “underperform” rating in a research note on Friday. Finally, Raymond James restated a “buy” rating on shares of Canadian Natural Resources in a research note on Friday, May 10th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and thirteen have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average target price of $41.88.

Shares of CNQ traded down $0.54 during trading hours on Friday, hitting $23.77. 236,629 shares of the company were exchanged, compared to its average volume of 2,629,977. The firm has a fifty day simple moving average of $24.14 and a 200-day simple moving average of $26.93. The company has a market capitalization of $28.25 billion, a PE ratio of 11.05, a PEG ratio of 1.37 and a beta of 1.16. Canadian Natural Resources Ltd has a one year low of $21.85 and a one year high of $33.86. The company has a debt-to-equity ratio of 0.57, a current ratio of 0.59 and a quick ratio of 0.44.

Canadian Natural Resources (NYSE:CNQ) (TSE:CNQ) last released its earnings results on Thursday, August 1st. The oil and gas producer reported $0.87 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.62 by $0.25. Canadian Natural Resources had a return on equity of 8.62% and a net margin of 22.22%. The company had revenue of $4.16 billion during the quarter, compared to analyst estimates of $4.36 billion. During the same quarter in the prior year, the company earned $1.04 earnings per share. Sell-side analysts expect that Canadian Natural Resources Ltd will post 2.41 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Friday, September 13th will be issued a dividend of $0.284 per share. This represents a $1.14 annualized dividend and a dividend yield of 4.78%. This is a positive change from Canadian Natural Resources’s previous quarterly dividend of $0.28. The ex-dividend date of this dividend is Thursday, September 12th. Canadian Natural Resources’s dividend payout ratio (DPR) is currently 51.63%.

About Canadian Natural Resources

Canadian Natural Resources Limited explores for, develops, produces, and markets crude oil, natural gas, and natural gas liquids (NGLs). The company offers synthetic crude oil (SCO), light and medium crude oil, bitumen (thermal oil), primary heavy crude oil, and Pelican Lake heavy crude oil. Its midstream assets include two crude oil pipeline systems; and a 50% working interest in an 84-megawatt cogeneration plant at Primrose.

Further Reading: Percentage Gainers

Institutional Ownership by Quarter for Canadian Natural Resources (NYSE:CNQ)

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