Canadian Natural Resources Limited (NYSE:CNQ) Shares Purchased by B. Riley Wealth Advisors Inc.

B. Riley Wealth Advisors Inc. boosted its position in shares of Canadian Natural Resources Limited (NYSE:CNQ) (TSE:CNQ) by 55.2% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 62,966 shares of the oil and gas producer’s stock after buying an additional 22,389 shares during the period. B. Riley Wealth Advisors Inc.’s holdings in Canadian Natural Resources were worth $2,266,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. NewEdge Advisors LLC grew its position in shares of Canadian Natural Resources by 311.5% during the second quarter. NewEdge Advisors LLC now owns 34,699 shares of the oil and gas producer’s stock worth $1,235,000 after acquiring an additional 26,266 shares during the last quarter. Northwestern Mutual Wealth Management Co. grew its holdings in shares of Canadian Natural Resources by 132.9% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 59,459 shares of the oil and gas producer’s stock worth $2,117,000 after buying an additional 33,930 shares during the last quarter. Creative Planning increased its position in Canadian Natural Resources by 104.8% in the 2nd quarter. Creative Planning now owns 79,497 shares of the oil and gas producer’s stock valued at $2,830,000 after acquiring an additional 40,672 shares during the period. Kathmere Capital Management LLC acquired a new position in Canadian Natural Resources in the 2nd quarter valued at about $223,000. Finally, Ninepoint Partners LP raised its stake in Canadian Natural Resources by 5,124.2% during the 2nd quarter. Ninepoint Partners LP now owns 3,106,292 shares of the oil and gas producer’s stock valued at $110,584,000 after acquiring an additional 3,046,832 shares during the last quarter. Hedge funds and other institutional investors own 74.03% of the company’s stock.

Canadian Natural Resources Stock Up 4.7 %

CNQ opened at $34.79 on Wednesday. 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 12 month low of $29.45 and a 12 month high of $41.29. The stock has a market capitalization of $74.02 billion, a P/E ratio of 13.86 and a beta of 1.51. The business has a 50 day simple moving average of $34.51 and a 200-day simple moving average of $36.29.

Canadian Natural Resources (NYSE:CNQ) (TSE:CNQ) last released its earnings results on Thursday, August 1st. The oil and gas producer reported $0.88 EPS for the quarter, beating analysts’ consensus estimates of $0.62 by $0.26. The company 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 quarter last year, the company earned $0.43 earnings per share. On average, equities analysts anticipate that Canadian Natural Resources Limited will post 2.47 earnings per share for the current fiscal 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 dividend of $0.384 per share. The ex-dividend date of this dividend is Friday, September 13th. This represents a $1.54 annualized dividend and a yield of 4.42%. Canadian Natural Resources’s payout ratio is currently 61.75%.

Analysts Set New Price Targets

CNQ has been the topic of a number of recent research reports. Scotiabank reissued a “sector perform” rating on shares of Canadian Natural Resources in a report on Tuesday, June 11th. StockNews.com cut shares of Canadian Natural Resources from a “buy” rating to a “hold” rating in a research note on Friday, August 23rd. Finally, Wolfe Research assumed coverage on shares of Canadian Natural Resources in a research note on Thursday, July 18th. They issued a “peer perform” rating for the company. Six investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat, the company presently has an average 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).