Canadian Natural Resources Limited (NYSE:CNQ) Shares Purchased by Marietta Investment Partners LLC

Marietta Investment Partners LLC lifted its stake in Canadian Natural Resources Limited (NYSE:CNQ) (TSE:CNQ) by 16.1% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 100,096 shares of the oil and gas producer’s stock after purchasing an additional 13,886 shares during the quarter. Marietta Investment Partners LLC’s holdings in Canadian Natural Resources were worth $3,563,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently made changes to their positions in CNQ. SCP Investment LP acquired a new stake in shares of Canadian Natural Resources in the fourth quarter valued at approximately $425,000. Principal Securities Inc. acquired a new stake in shares of Canadian Natural Resources in the fourth quarter valued at approximately $35,000. PNC Financial Services Group Inc. increased its holdings in shares of Canadian Natural Resources by 137.8% in the fourth quarter. PNC Financial Services Group Inc. now owns 39,418 shares of the oil and gas producer’s stock valued at $2,583,000 after purchasing an additional 22,839 shares during the last quarter. Coldstream Capital Management Inc. acquired a new stake in shares of Canadian Natural Resources in the fourth quarter valued at approximately $252,000. Finally, D.A. Davidson & CO. increased its stake in Canadian Natural Resources by 55.4% during the fourth quarter. D.A. Davidson & CO. now owns 7,381 shares of the oil and gas producer’s stock worth $484,000 after acquiring an additional 2,631 shares during the last quarter. Institutional investors and hedge funds own 74.03% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on CNQ shares. StockNews.com cut 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 raised Canadian Natural Resources to a “hold” rating in a research note on Tuesday, May 28th. Finally, Wolfe Research started coverage on Canadian Natural Resources in a research note 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 given a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $49.50.

Canadian Natural Resources Trading Down 1.1 %

CNQ opened at $33.40 on Monday. Canadian Natural Resources Limited has a 52 week low of $29.45 and a 52 week high of $41.29. The business has a fifty day simple moving average of $34.78 and a 200-day simple moving average of $36.42. The firm has a market cap of $71.07 billion, a P/E ratio of 13.31 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 (NYSE:CNQ) (TSE:CNQ) last released its quarterly earnings results on Thursday, August 1st. The oil and gas producer reported $0.88 EPS for the quarter, topping the consensus estimate of $0.62 by $0.26. Canadian Natural Resources had a return on equity of 22.09% and a net margin of 18.05%. The business had revenue of $7.76 billion during the quarter, compared to analyst estimates of $6.19 billion. During the same period last year, the business posted $0.43 earnings per share. On average, equities analysts expect that Canadian Natural Resources Limited will post 2.49 earnings per share for the current year.

Canadian Natural Resources Cuts Dividend

The company also recently declared 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 is Friday, September 13th. This represents a $1.54 annualized dividend and a dividend yield of 4.60%. Canadian Natural Resources’s dividend payout ratio is currently 61.75%.

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).