Canadian Natural Resources Limited $CNQ Stock Position Lifted by AdvisorNet Financial Inc

AdvisorNet Financial Inc boosted its stake in shares of Canadian Natural Resources Limited (NYSE:CNQ) (TSE:CNQ) by 21.1% during the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 8,553 shares of the oil and gas producer’s stock after purchasing an additional 1,488 shares during the period. AdvisorNet Financial Inc’s holdings in Canadian Natural Resources were worth $269,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in CNQ. PKO Investment Management Joint Stock Co acquired a new stake in shares of Canadian Natural Resources in the fourth quarter worth $2,452,000. Hara Capital LLC grew its holdings in shares of Canadian Natural Resources by 49.6% in the 4th quarter. Hara Capital LLC now owns 22,934 shares of the oil and gas producer’s stock worth $708,000 after purchasing an additional 7,604 shares during the last quarter. Wealth Enhancement Advisory Services LLC grew its holdings in shares of Canadian Natural Resources by 198.4% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 34,047 shares of the oil and gas producer’s stock worth $1,051,000 after purchasing an additional 22,637 shares during the last quarter. Versant Capital Management Inc grew its holdings in shares of Canadian Natural Resources by 253.2% in the 1st quarter. Versant Capital Management Inc now owns 1,307 shares of the oil and gas producer’s stock worth $40,000 after purchasing an additional 937 shares during the last quarter. Finally, Moody National Bank Trust Division grew its holdings in Canadian Natural Resources by 60.5% during the 1st quarter. Moody National Bank Trust Division now owns 10,589 shares of the oil and gas producer’s stock worth $326,000 after acquiring an additional 3,993 shares during the last quarter. 74.03% of the stock is currently owned by institutional investors and hedge funds.

Canadian Natural Resources Stock Performance

NYSE:CNQ opened at $32.76 on Thursday. The stock has a market cap of $68.37 billion, a P/E ratio of 11.62 and a beta of 1.03. The company has a current ratio of 0.85, a quick ratio of 0.54 and a debt-to-equity ratio of 0.38. The stock’s 50-day moving average is $31.13 and its 200-day moving average is $30.66. Canadian Natural Resources Limited has a 1-year low of $24.65 and a 1-year high of $37.91.

Canadian Natural Resources (NYSE:CNQ) (TSE:CNQ) last released its quarterly earnings results on Thursday, August 7th. The oil and gas producer reported $0.51 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.44 by $0.07. Canadian Natural Resources had a net margin of 19.00% and a return on equity of 19.67%. The firm had revenue of $6.39 billion during the quarter, compared to analyst estimates of $8.97 billion. During the same quarter last year, the business earned $0.88 EPS. Equities research analysts anticipate that Canadian Natural Resources Limited will post 2.45 earnings per share for the current year.

Canadian Natural Resources Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 3rd. Shareholders of record on Friday, September 19th will be paid a $0.4269 dividend. This is a boost from Canadian Natural Resources’s previous quarterly dividend of $0.42. The ex-dividend date is Friday, September 19th. This represents a $1.71 dividend on an annualized basis and a yield of 5.2%. Canadian Natural Resources’s dividend payout ratio is currently 60.28%.

Analyst Upgrades and Downgrades

CNQ has been the topic of a number of research reports. National Bankshares restated a “sector perform” rating on shares of Canadian Natural Resources in a research report on Thursday, July 17th. Raymond James Financial restated an “outperform” rating on shares of Canadian Natural Resources in a report on Friday, August 8th. Scotiabank restated an “outperform” rating on shares of Canadian Natural Resources in a report on Friday, July 11th. Zacks Research upgraded shares of Canadian Natural Resources from a “hold” rating to a “strong-buy” rating in a report on Tuesday, August 26th. Finally, Royal Bank Of Canada reissued an “outperform” rating and issued a $62.00 target price on shares of Canadian Natural Resources in a research note on Wednesday. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $62.00.

Canadian Natural Resources 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).