Alaethes Wealth LLC Purchases 25,469 Shares of Canadian Natural Resources Limited (NYSE:CNQ)

Alaethes Wealth LLC grew its position in Canadian Natural Resources Limited (NYSE:CNQ) (TSE:CNQ) by 102.6% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 50,295 shares of the oil and gas producer’s stock after buying an additional 25,469 shares during the quarter. Alaethes Wealth LLC’s holdings in Canadian Natural Resources were worth $1,791,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in CNQ. Capital Wealth Planning LLC lifted its holdings in shares of Canadian Natural Resources by 228.5% in the second quarter. Capital Wealth Planning LLC now owns 91,652 shares of the oil and gas producer’s stock worth $3,263,000 after acquiring an additional 63,756 shares during the last quarter. JBF Capital Inc. grew its stake in shares of Canadian Natural Resources by 101.1% during the second quarter. JBF Capital Inc. now owns 512,198 shares of the oil and gas producer’s stock worth $18,234,000 after buying an additional 257,549 shares during the last quarter. Choreo LLC acquired a new position in shares of Canadian Natural Resources during the second quarter worth $746,000. Envestnet Asset Management Inc. lifted its stake in shares of Canadian Natural Resources by 105.8% in the 2nd quarter. Envestnet Asset Management Inc. now owns 1,575,770 shares of the oil and gas producer’s stock valued at $56,097,000 after acquiring an additional 810,200 shares during the last quarter. Finally, Pacific Heights Asset Management LLC boosted its holdings in shares of Canadian Natural Resources by 100.0% during the 2nd 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 acquiring an additional 160,000 shares in the last quarter. 74.03% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

CNQ has been the subject of several recent research reports. StockNews.com downgraded Canadian Natural Resources from a “buy” rating to a “hold” rating in a research note on Friday, August 23rd. Scotiabank reissued a “sector perform” rating on shares of Canadian Natural Resources in a research note on Tuesday, June 11th. Raymond James upgraded Canadian Natural Resources to a “hold” rating in a research report on Tuesday, May 28th. Finally, Wolfe Research started coverage on Canadian Natural Resources in a report on Thursday, July 18th. They issued a “peer perform” rating on the stock. Six equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to MarketBeat.com, Canadian Natural Resources presently has an average rating of “Hold” and an average price target of $49.50.

Canadian Natural Resources Trading Down 1.2 %

NYSE CNQ opened at $33.38 on Friday. The stock has a market capitalization of $71.03 billion, a P/E ratio of 13.30 and a beta of 1.51. The business has a 50 day simple moving average of $34.78 and a 200 day simple moving average of $36.41. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.88 and a quick ratio of 0.59. Canadian Natural Resources Limited has a one year low of $29.45 and a one year high of $41.29.

Canadian Natural Resources (NYSE:CNQ) (TSE:CNQ) last released its quarterly earnings data on Thursday, August 1st. The oil and gas producer reported $0.88 earnings per share for the quarter, beating the consensus estimate of $0.62 by $0.26. The company had revenue of $7.76 billion during the quarter, compared to analyst estimates of $6.19 billion. Canadian Natural Resources had a net margin of 18.05% and a return on equity of 22.09%. During the same quarter in the previous year, the business posted $0.43 EPS. Research analysts expect 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 disclosed a quarterly dividend, which will be paid on Friday, October 4th. Stockholders of record on Friday, September 13th will be given a dividend of $0.384 per share. The ex-dividend date of this dividend is Friday, September 13th. This represents a $1.54 dividend on an annualized basis and a dividend yield of 4.60%. Canadian Natural Resources’s dividend payout ratio (DPR) is presently 61.75%.

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).