Canadian Natural Resources Limited (NYSE:CNQ) Stake Lifted by Benjamin Edwards Inc.

Benjamin Edwards Inc. increased its stake in Canadian Natural Resources Limited (NYSE:CNQ) (TSE:CNQ) by 112.5% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,021 shares of the oil and gas producer’s stock after acquiring an additional 3,188 shares during the period. Benjamin Edwards Inc.’s holdings in Canadian Natural Resources were worth $214,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Capital Wealth Planning LLC boosted 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 valued at $3,263,000 after acquiring an additional 63,756 shares in the last quarter. JBF Capital Inc. boosted its holdings 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 acquiring an additional 257,549 shares in the last quarter. Choreo LLC bought a new stake in Canadian Natural Resources during the second quarter worth approximately $746,000. Envestnet Asset Management Inc. boosted its holdings in Canadian Natural Resources by 105.8% during the second quarter. Envestnet Asset Management Inc. now owns 1,575,770 shares of the oil and gas producer’s stock worth $56,097,000 after buying an additional 810,200 shares in the last quarter. Finally, Pacific Heights Asset Management LLC boosted its holdings 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 buying an additional 160,000 shares in the last quarter. 74.03% of the stock is currently owned by institutional investors.

Canadian Natural Resources Stock Down 1.1 %

Shares of NYSE:CNQ opened at $33.40 on Friday. 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 company has a market cap of $71.07 billion, a PE ratio of 13.31 and a beta of 1.51. Canadian Natural Resources Limited has a 52 week low of $29.45 and a 52 week high of $41.29. The firm has a 50 day simple moving average of $34.78 and a 200 day simple moving average of $36.41.

Canadian Natural Resources (NYSE:CNQ) (TSE:CNQ) last issued its quarterly 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. Canadian Natural Resources had a net margin of 18.05% and a return on equity of 22.09%. The business had revenue of $7.76 billion during the quarter, compared to the consensus estimate of $6.19 billion. During the same quarter in the prior year, the firm earned $0.43 EPS. As a group, 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 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 is Friday, September 13th. This represents a $1.54 dividend on an annualized basis and a yield of 4.60%. Canadian Natural Resources’s payout ratio is 61.75%.

Analysts Set New Price Targets

A number of analysts recently weighed in on CNQ shares. Scotiabank restated a “sector perform” rating on shares of Canadian Natural Resources in a report on Tuesday, June 11th. Raymond James upgraded shares of Canadian Natural Resources to a “hold” rating in a report on Tuesday, May 28th. StockNews.com cut shares of Canadian Natural Resources from a “buy” rating to a “hold” rating in a report on Friday, August 23rd. Finally, Wolfe Research initiated coverage on shares of Canadian Natural Resources in a report on Thursday, July 18th. They set a “peer perform” rating for the company. Six research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price 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).