Investec Asset Management North America Inc. trimmed its position in shares of Canadian Natural Resources Ltd (NYSE:CNQ) (TSE:CNQ) by 1.8% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 37,033 shares of the oil and gas producer’s stock after selling 661 shares during the period. Investec Asset Management North America Inc.’s holdings in Canadian Natural Resources were worth $1,001,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Icon Wealth Partners LLC bought a new position in shares of Canadian Natural Resources in the first quarter valued at approximately $28,000. Zions Bancorporation N.A. bought a new stake in shares of Canadian Natural Resources during the 1st quarter valued at $28,000. Bremer Bank National Association bought a new stake in shares of Canadian Natural Resources during the 1st quarter valued at $34,000. Huntington National Bank raised its position in shares of Canadian Natural Resources by 348.8% during the 2nd quarter. Huntington National Bank now owns 1,333 shares of the oil and gas producer’s stock valued at $36,000 after acquiring an additional 1,036 shares during the last quarter. Finally, Cornerstone Advisors Inc. raised its position in shares of Canadian Natural Resources by 245.3% during the 1st quarter. Cornerstone Advisors Inc. now owns 1,806 shares of the oil and gas producer’s stock valued at $50,000 after acquiring an additional 1,283 shares during the last quarter. Institutional investors own 65.34% of the company’s stock.
CNQ has been the subject of several recent research reports. Raymond James reiterated a “buy” rating on shares of Canadian Natural Resources in a research report on Friday, May 10th. CIBC reissued a “buy” rating and issued a $48.00 price target on shares of Canadian Natural Resources in a report on Sunday, August 4th. Zacks Investment Research lowered shares of 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. Edward Jones lowered shares of Canadian Natural Resources from a “buy” rating to a “hold” rating in a research note on Thursday, April 25th. Finally, Canaccord Genuity reaffirmed a “buy” rating and issued a $53.00 target price on shares of Canadian Natural Resources in a research note on Tuesday, July 9th. Six research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. The company has an average rating of “Buy” and a consensus target price of $41.88.Shares of NYSE:CNQ traded up $0.03 on Friday, reaching $23.40. 2,099,300 shares of the company’s stock were exchanged, compared to its average volume of 2,556,456. The company has a current ratio of 0.59, a quick ratio of 0.44 and a debt-to-equity ratio of 0.57. The company has a market capitalization of $27.78 billion, a price-to-earnings ratio of 10.88, a PEG ratio of 1.37 and a beta of 1.13. The company has a fifty day moving average of $25.56 and a 200-day moving average of $27.26. Canadian Natural Resources Ltd has a twelve month low of $21.85 and a twelve month high of $35.95.
Canadian Natural Resources (NYSE:CNQ) (TSE:CNQ) last issued its earnings results on Thursday, August 1st. The oil and gas producer reported $0.87 earnings per share for the quarter, beating analysts’ consensus estimates of $0.62 by $0.25. The firm had revenue of $4.16 billion for the quarter, compared to analyst estimates of $4.36 billion. Canadian Natural Resources had a net margin of 22.22% and a return on equity of 8.62%. During the same quarter last year, the business posted $1.04 earnings per share. As a group, equities research analysts forecast that Canadian Natural Resources Ltd will post 2.4 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Friday, September 13th will be paid a dividend of $0.284 per share. The ex-dividend date of this dividend is Thursday, September 12th. This represents a $1.14 annualized dividend and a dividend yield of 4.85%. This is an increase from Canadian Natural Resources’s previous quarterly dividend of $0.28. Canadian Natural Resources’s dividend payout ratio (DPR) is presently 51.63%.
Canadian Natural Resources Profile
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.
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