Federated Hermes Inc. Buys 5,107 Shares of Canadian Natural Resources Limited (NYSE:CNQ)

Federated Hermes Inc. boosted its stake in shares of Canadian Natural Resources Limited (NYSE:CNQ) (TSE:CNQ) by 157.4% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 8,352 shares of the oil and gas producer’s stock after purchasing an additional 5,107 shares during the period. Federated Hermes Inc.’s holdings in Canadian Natural Resources were worth $297,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Bruce G. Allen Investments LLC lifted its holdings in shares of Canadian Natural Resources by 117.8% during the 1st quarter. Bruce G. Allen Investments LLC now owns 453 shares of the oil and gas producer’s stock valued at $35,000 after buying an additional 245 shares during the period. YHB Investment Advisors Inc. bought a new position in Canadian Natural Resources in the first quarter valued at about $37,000. LifeSteps Financial Inc. purchased a new position in Canadian Natural Resources in the first quarter worth about $46,000. RFP Financial Group LLC grew its stake in shares of Canadian Natural Resources by 98.3% during the 2nd 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 during the period. Finally, Park Place Capital Corp increased its position in shares of Canadian Natural Resources by 100.0% during the 2nd quarter. Park Place Capital Corp now owns 716 shares of the oil and gas producer’s stock valued at $25,000 after purchasing an additional 358 shares during the last quarter. Hedge funds and other institutional investors own 74.03% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have commented on CNQ. Raymond James raised shares of Canadian Natural Resources to a “hold” rating in a report on Tuesday, May 28th. Wolfe Research initiated coverage on Canadian Natural Resources in a research report on Thursday, July 18th. They set a “peer perform” rating on the stock. Scotiabank restated a “sector perform” rating on shares of Canadian Natural Resources in a research report on Tuesday, June 11th. Finally, StockNews.com cut Canadian Natural Resources from a “buy” rating to a “hold” rating in a research report on Friday, August 23rd. Six research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $49.50.

Canadian Natural Resources Price Performance

NYSE:CNQ opened at $34.61 on Wednesday. The stock has a market cap of $73.65 billion, a PE ratio of 13.79 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. The business’s 50-day simple moving average is $34.69 and its two-hundred day simple moving average is $36.39. Canadian Natural Resources Limited has a 52 week low of $29.45 and a 52 week high of $41.29.

Canadian Natural Resources (NYSE:CNQ) (TSE:CNQ) last announced its quarterly earnings data on Thursday, August 1st. The oil and gas producer reported $0.88 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.62 by $0.26. The business had revenue of $7.76 billion during the quarter, compared to analyst estimates 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 period last year, the firm posted $0.43 EPS. As a group, analysts forecast that Canadian Natural Resources Limited will post 2.49 EPS 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. Shareholders of record on Friday, September 13th will be issued a $0.384 dividend. The ex-dividend date of this dividend is Friday, September 13th. This represents a $1.54 dividend on an annualized basis and a yield of 4.44%. 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).