Envestnet Asset Management Inc. Has $56.10 Million Stake in Canadian Natural Resources Limited (NYSE:CNQ)

Envestnet Asset Management Inc. lifted its position in Canadian Natural Resources Limited (NYSE:CNQ) (TSE:CNQ) by 105.8% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,575,770 shares of the oil and gas producer’s stock after purchasing an additional 810,200 shares during the quarter. Envestnet Asset Management Inc. owned 0.07% of Canadian Natural Resources worth $56,097,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. JBF Capital Inc. raised its stake in shares of Canadian Natural Resources by 101.1% in the second quarter. JBF Capital Inc. now owns 512,198 shares of the oil and gas producer’s stock valued at $18,234,000 after purchasing an additional 257,549 shares in the last quarter. Choreo LLC acquired a new position in shares of Canadian Natural Resources in the second quarter valued at $746,000. Pacific Heights Asset Management LLC raised its stake in Canadian Natural Resources by 100.0% during the second quarter. Pacific Heights Asset Management LLC now owns 320,000 shares of the oil and gas producer’s stock worth $11,392,000 after acquiring an additional 160,000 shares in the last quarter. Commonwealth Equity Services LLC raised its stake in Canadian Natural Resources by 100.2% during the second quarter. Commonwealth Equity Services LLC now owns 168,270 shares of the oil and gas producer’s stock worth $5,990,000 after acquiring an additional 84,232 shares in the last quarter. Finally, Royal London Asset Management Ltd. raised its stake in Canadian Natural Resources by 63.4% during the second quarter. Royal London Asset Management Ltd. now owns 748,801 shares of the oil and gas producer’s stock worth $26,657,000 after acquiring an additional 290,609 shares in the last quarter. 74.03% of the stock is currently owned by institutional investors and hedge funds.

Canadian Natural Resources Price Performance

Canadian Natural Resources stock opened at $32.86 on Thursday. The business’s 50-day simple moving average is $34.89 and its 200 day simple moving average is $36.44. The stock has a market cap of $69.92 billion, a price-to-earnings ratio of 13.09 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 posted its quarterly earnings results on Thursday, August 1st. The oil and gas producer reported $0.88 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.62 by $0.26. The business had revenue of $7.76 billion for the quarter, compared to analysts’ expectations of $6.19 billion. Canadian Natural Resources had a return on equity of 22.09% and a net margin of 18.05%. During the same quarter last year, the business earned $0.43 earnings per share. As a group, research analysts anticipate that Canadian Natural Resources Limited will post 2.49 earnings per share for the current year.

Canadian Natural Resources Cuts Dividend

The business also recently announced 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 dividend on an annualized basis and a yield of 4.67%. The ex-dividend date of this dividend is Friday, September 13th. Canadian Natural Resources’s dividend payout ratio (DPR) is currently 61.75%.

Wall Street Analyst Weigh In

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

Canadian Natural Resources Company 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).