Thoroughbred Financial Services LLC Invests $464,000 in Canadian Natural Resources Limited (NYSE:CNQ)

Thoroughbred Financial Services LLC acquired a new position in shares of Canadian Natural Resources Limited (NYSE:CNQ) (TSE:CNQ) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 13,038 shares of the oil and gas producer’s stock, valued at approximately $464,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. TD Asset Management Inc raised its stake in Canadian Natural Resources by 96.2% in the 2nd quarter. TD Asset Management Inc now owns 42,518,833 shares of the oil and gas producer’s stock valued at $1,514,190,000 after acquiring an additional 20,843,193 shares during the period. Yacktman Asset Management LP raised its stake in Canadian Natural Resources by 95.9% in the 2nd quarter. Yacktman Asset Management LP now owns 29,456,746 shares of the oil and gas producer’s stock valued at $1,048,660,000 after acquiring an additional 14,418,835 shares during the period. CIBC Asset Management Inc raised its stake in Canadian Natural Resources by 93.6% in the 2nd quarter. CIBC Asset Management Inc now owns 22,916,027 shares of the oil and gas producer’s stock valued at $815,751,000 after acquiring an additional 11,077,189 shares during the period. Capital International Investors raised its stake in Canadian Natural Resources by 103.3% in the 4th quarter. Capital International Investors now owns 9,819,333 shares of the oil and gas producer’s stock valued at $643,348,000 after acquiring an additional 4,989,634 shares during the period. Finally, Healthcare of Ontario Pension Plan Trust Fund bought a new stake in Canadian Natural Resources in the 1st quarter valued at $305,258,000. Institutional investors own 74.03% of the company’s stock.

Canadian Natural Resources Stock Performance

NYSE:CNQ opened at $32.33 on Tuesday. The stock’s 50-day simple moving average is $35.00 and its 200 day simple moving average is $36.49. The firm has a market capitalization of $68.79 billion, a PE ratio of 12.88 and a beta of 1.51. 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 Limited has a twelve month low of $29.45 and a twelve month high of $41.29.

Canadian Natural Resources (NYSE:CNQ) (TSE:CNQ) last posted its earnings results on Thursday, August 1st. The oil and gas producer reported $0.88 EPS for the quarter, beating the consensus estimate of $0.62 by $0.26. The firm had revenue of $7.76 billion during the quarter, compared to the consensus estimate 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 last year, the company earned $0.43 earnings per share. On average, analysts anticipate that Canadian Natural Resources Limited will post 2.49 EPS for the current fiscal year.

Canadian Natural Resources Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, October 4th. Shareholders of record on Friday, September 13th will be given a $0.384 dividend. The ex-dividend date of this dividend is Friday, September 13th. This represents a $1.54 annualized dividend and a yield of 4.75%. Canadian Natural Resources’s dividend payout ratio is presently 61.75%.

Analyst Upgrades and Downgrades

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

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).