Choreo LLC Purchases Shares of 20,809 Canadian Natural Resources Limited (NYSE:CNQ)

Choreo LLC acquired a new position in Canadian Natural Resources Limited (NYSE:CNQ) (TSE:CNQ) during the second quarter, according to its most recent 13F filing with the SEC. The firm acquired 20,809 shares of the oil and gas producer’s stock, valued at approximately $746,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Pacific Heights Asset Management LLC raised its holdings in Canadian Natural Resources by 100.0% in the second 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 buying an additional 160,000 shares during the period. Commonwealth Equity Services LLC raised its stake in shares of Canadian Natural Resources by 100.2% in the 2nd quarter. Commonwealth Equity Services LLC now owns 168,270 shares of the oil and gas producer’s stock valued at $5,990,000 after acquiring an additional 84,232 shares during the period. Candriam S.C.A. lifted its holdings in shares of Canadian Natural Resources by 100.0% during the 2nd quarter. Candriam S.C.A. now owns 7,886 shares of the oil and gas producer’s stock valued at $281,000 after acquiring an additional 3,943 shares in the last quarter. Advisor OS LLC lifted its holdings in shares of Canadian Natural Resources by 92.3% during the 2nd quarter. Advisor OS LLC now owns 6,885 shares of the oil and gas producer’s stock valued at $245,000 after acquiring an additional 3,304 shares in the last quarter. Finally, Connable Office Inc. boosted its position in Canadian Natural Resources by 91.5% during the 2nd 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. 74.03% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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

Canadian Natural Resources Trading Down 0.9 %

NYSE:CNQ opened at $31.97 on Friday. The stock has a market cap of $67.86 billion, a price-to-earnings ratio of 12.74 and a beta of 1.51. Canadian Natural Resources Limited has a one year low of $29.45 and a one year high of $41.29. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.59 and a current ratio of 0.88. The business’s 50-day simple moving average is $35.07 and its 200 day simple moving average is $36.46.

Canadian Natural Resources (NYSE:CNQ) (TSE:CNQ) last announced 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. Canadian Natural Resources had a return on equity of 22.09% and a net margin of 18.05%. The company had revenue of $7.76 billion for the quarter, compared to analyst estimates of $6.19 billion. During the same period in the prior year, the company posted $0.43 EPS. As a group, sell-side 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 business also recently disclosed a quarterly dividend, which will be paid on Friday, October 4th. Shareholders of record on Friday, September 13th will be issued a dividend of $0.384 per share. This represents a $1.54 annualized dividend and a yield of 4.80%. The ex-dividend date is Friday, September 13th. 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).