University of Texas Texas AM Investment Management Co. Has $2.90 Million Holdings in Canadian Natural Resources Limited (NYSE:CNQ)

University of Texas Texas AM Investment Management Co. lifted its position in shares of Canadian Natural Resources Limited (NYSE:CNQ) (TSE:CNQ) by 87.0% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 81,342 shares of the oil and gas producer’s stock after purchasing an additional 37,849 shares during the quarter. University of Texas Texas AM Investment Management Co.’s holdings in Canadian Natural Resources were worth $2,896,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Envestnet Portfolio Solutions Inc. increased its holdings in Canadian Natural Resources by 0.9% in the first quarter. Envestnet Portfolio Solutions Inc. now owns 21,774 shares of the oil and gas producer’s stock valued at $1,662,000 after purchasing an additional 204 shares during the last quarter. Bruce G. Allen Investments LLC increased its holdings in Canadian Natural Resources by 117.8% in the first quarter. Bruce G. Allen Investments LLC now owns 453 shares of the oil and gas producer’s stock valued at $35,000 after purchasing an additional 245 shares during the last quarter. Cloverfields Capital Group LP increased its holdings in Canadian Natural Resources by 0.8% in the first quarter. Cloverfields Capital Group LP now owns 32,017 shares of the oil and gas producer’s stock valued at $2,444,000 after purchasing an additional 253 shares during the last quarter. Naples Global Advisors LLC increased its holdings in Canadian Natural Resources by 4.5% in the first quarter. Naples Global Advisors LLC now owns 6,410 shares of the oil and gas producer’s stock valued at $494,000 after purchasing an additional 277 shares during the last quarter. Finally, Burgundy Asset Management Ltd. increased its holdings in Canadian Natural Resources by 1.1% in the first quarter. Burgundy Asset Management Ltd. now owns 29,908 shares of the oil and gas producer’s stock valued at $2,282,000 after purchasing an additional 339 shares during the last quarter. Institutional investors and hedge funds own 74.03% of the company’s stock.

Canadian Natural Resources Stock Up 4.7 %

CNQ stock opened at $34.79 on Wednesday. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.88 and a quick ratio of 0.59. The stock has a market capitalization of $74.02 billion, a P/E ratio of 13.86 and a beta of 1.51. The business has a 50-day moving average of $34.51 and a 200-day moving average of $36.29. Canadian Natural Resources Limited has a fifty-two week low of $29.45 and a fifty-two week high of $41.29.

Canadian Natural Resources (NYSE:CNQ) (TSE:CNQ) last posted its quarterly earnings data on Thursday, August 1st. The oil and gas producer reported $0.88 earnings per share for the quarter, topping the consensus estimate of $0.62 by $0.26. The company had revenue of $7.76 billion during 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 period in the prior year, the firm earned $0.43 earnings per share. On average, sell-side analysts anticipate that Canadian Natural Resources Limited will post 2.47 earnings per share for the current fiscal year.

Canadian Natural Resources Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, October 4th. Investors of record on Friday, September 13th will be given a dividend of $0.384 per share. The ex-dividend date is Friday, September 13th. This represents a $1.54 annualized dividend and a yield of 4.42%. Canadian Natural Resources’s dividend payout ratio (DPR) is presently 61.75%.

Analyst Upgrades and Downgrades

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

About Canadian Natural Resources

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).