Scotia Capital Inc. grew its stake in shares of Canadian Natural Resources Ltd (NYSE:CNQ) (TSE:CNQ) by 3.2% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,799,961 shares of the oil and gas producer’s stock after purchasing an additional 56,112 shares during the period. Scotia Capital Inc. owned approximately 0.15% of Canadian Natural Resources worth $48,445,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors and hedge funds have also bought and sold shares of the company. Caymus Capital Partners L.P. purchased a new stake in shares of Canadian Natural Resources during the 2nd quarter worth approximately $12,869,000. Wetherby Asset Management Inc. boosted its position in shares of Canadian Natural Resources by 3.8% during the 1st quarter. Wetherby Asset Management Inc. now owns 21,933 shares of the oil and gas producer’s stock valued at $603,000 after acquiring an additional 808 shares during the last quarter. Zions Bancorporation N.A. bought a new stake in shares of Canadian Natural Resources during the 1st quarter valued at about $28,000. Letko Brosseau & Associates Inc. grew its holdings in shares of Canadian Natural Resources by 0.4% during the second quarter. Letko Brosseau & Associates Inc. now owns 14,907,844 shares of the oil and gas producer’s stock worth $402,828,000 after purchasing an additional 66,697 shares in the last quarter. Finally, Trexquant Investment LP purchased a new position in shares of Canadian Natural Resources during the second quarter worth about $2,947,000. Institutional investors own 65.10% of the company’s stock.
CNQ traded down $0.29 during midday trading on Wednesday, hitting $25.39. The stock had a trading volume of 305,786 shares, compared to its average volume of 2,692,890. The company has a market cap of $30.52 billion, a P/E ratio of 11.80, a price-to-earnings-growth ratio of 1.46 and a beta of 1.16. The business has a fifty day moving average of $23.99 and a 200 day moving average of $26.84. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.44 and a current ratio of 0.59. Canadian Natural Resources Ltd has a 1 year low of $21.85 and a 1 year high of $33.86.
Canadian Natural Resources (NYSE:CNQ) (TSE:CNQ) last posted its quarterly earnings results on Thursday, August 1st. The oil and gas producer reported $0.87 EPS for the quarter, topping the consensus estimate of $0.62 by $0.25. Canadian Natural Resources had a net margin of 22.22% and a return on equity of 8.62%. The firm had revenue of $4.16 billion for the quarter, compared to the consensus estimate of $4.36 billion. During the same period last year, the firm posted $1.04 earnings per share. On average, equities research analysts anticipate that Canadian Natural Resources Ltd will post 2.38 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Friday, September 13th will be paid a $0.284 dividend. The ex-dividend date is Thursday, September 12th. This is an increase from Canadian Natural Resources’s previous quarterly dividend of $0.28. This represents a $1.14 annualized dividend and a yield of 4.47%. Canadian Natural Resources’s payout ratio is currently 51.63%.
Several research analysts recently weighed in on the stock. Wells Fargo & Co cut shares of Canadian Natural Resources from a “market perform” rating to an “underperform” rating in a research report on Friday, September 6th. Zacks Investment Research cut shares of Canadian Natural Resources from a “buy” rating to a “hold” rating and set a $28.00 price target for the company. in a research note on Monday, July 22nd. CIBC reissued a “buy” rating and issued a $48.00 price target on shares of Canadian Natural Resources in a report on Sunday, August 4th. Goldman Sachs Group restated a “neutral” rating on shares of Canadian Natural Resources in a research report on Monday, July 22nd. Finally, Canaccord Genuity reaffirmed a “buy” rating and set a $53.00 price objective on shares of Canadian Natural Resources in a report on Tuesday, July 9th. One analyst has rated the stock with a sell rating, six have given a hold rating and thirteen have given a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average price target of $41.88.
About Canadian Natural Resources
Canadian Natural Resources Limited explores for, develops, produces, and markets crude oil, natural gas, and natural gas liquids (NGLs). The company offers synthetic crude oil (SCO), light and medium crude oil, bitumen (thermal oil), primary heavy crude oil, and Pelican Lake heavy crude oil. Its midstream assets include two crude oil pipeline systems; and a 50% working interest in an 84-megawatt cogeneration plant at Primrose.
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