30,351 Shares in Canadian Natural Resources Limited (NYSE:CNQ) Bought by King Luther Capital Management Corp

King Luther Capital Management Corp purchased a new stake in Canadian Natural Resources Limited (NYSE:CNQ) (TSE:CNQ) in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 30,351 shares of the oil and gas producer’s stock, valued at approximately $1,080,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Park Place Capital Corp raised its position in shares of Canadian Natural Resources by 100.0% in the 2nd quarter. Park Place Capital Corp now owns 716 shares of the oil and gas producer’s stock valued at $25,000 after buying an additional 358 shares in the last quarter. RFP Financial Group LLC raised its position in Canadian Natural Resources by 98.3% during the second quarter. RFP Financial Group LLC now owns 710 shares of the oil and gas producer’s stock valued at $25,000 after purchasing an additional 352 shares in the last quarter. Sugarloaf Wealth Management LLC lifted its stake in Canadian Natural Resources by 100.0% during the second quarter. Sugarloaf Wealth Management LLC now owns 728 shares of the oil and gas producer’s stock worth $26,000 after purchasing an additional 364 shares during the last quarter. Bruce G. Allen Investments LLC boosted its holdings in shares of Canadian Natural Resources by 91.6% in the 2nd quarter. Bruce G. Allen Investments LLC now owns 868 shares of the oil and gas producer’s stock valued at $31,000 after purchasing an additional 415 shares in the last quarter. Finally, GAMMA Investing LLC increased its stake in shares of Canadian Natural Resources by 104.7% in the 2nd quarter. GAMMA Investing LLC now owns 874 shares of the oil and gas producer’s stock valued at $31,000 after purchasing an additional 447 shares during the last quarter. Institutional investors own 74.03% of the company’s stock.

Canadian Natural Resources Stock Down 1.1 %

NYSE:CNQ opened at $33.40 on Monday. 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. The firm’s 50 day simple moving average is $34.78 and its 200 day simple moving average is $36.42. 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 (NYSE:CNQ) (TSE:CNQ) last issued 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 for the quarter, compared to analysts’ expectations 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 firm posted $0.43 earnings per share. On average, 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 declared a quarterly dividend, which will be paid on Friday, October 4th. Stockholders of record on Friday, September 13th will be paid a $0.384 dividend. The ex-dividend date of this dividend is Friday, September 13th. This represents a $1.54 annualized dividend and a dividend yield of 4.60%. Canadian Natural Resources’s payout ratio is 61.75%.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on CNQ shares. Wolfe Research initiated coverage on Canadian Natural Resources in a research report on Thursday, July 18th. They set a “peer perform” rating for the company. Raymond James upgraded shares of 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 report on Tuesday, June 11th. Finally, StockNews.com cut shares of 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 issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average 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).