Louisbourg Investments Inc. Has $5.69 Million Position in Canadian Natural Resources Limited $CNQ

Louisbourg Investments Inc. grew its position in Canadian Natural Resources Limited (NYSE:CNQ) (TSE:CNQ) by 4.2% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 181,202 shares of the oil and gas producer’s stock after buying an additional 7,336 shares during the quarter. Louisbourg Investments Inc.’s holdings in Canadian Natural Resources were worth $5,685,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Ameritas Advisory Services LLC acquired a new position in Canadian Natural Resources during the 2nd quarter worth approximately $27,000. Investment Management Corp VA ADV increased its position in Canadian Natural Resources by 158.3% during the 1st quarter. Investment Management Corp VA ADV now owns 997 shares of the oil and gas producer’s stock worth $31,000 after purchasing an additional 611 shares in the last quarter. Sierra Ocean LLC increased its position in Canadian Natural Resources by 104.0% during the 1st quarter. Sierra Ocean LLC now owns 1,569 shares of the oil and gas producer’s stock worth $48,000 after purchasing an additional 800 shares in the last quarter. Geneos Wealth Management Inc. increased its position in Canadian Natural Resources by 47.3% during the 1st quarter. Geneos Wealth Management Inc. now owns 1,644 shares of the oil and gas producer’s stock worth $51,000 after purchasing an additional 528 shares in the last quarter. Finally, Adirondack Trust Co. increased its position in Canadian Natural Resources by 317.1% during the 2nd quarter. Adirondack Trust Co. now owns 1,710 shares of the oil and gas producer’s stock worth $54,000 after purchasing an additional 1,300 shares in the last quarter. 74.03% of the stock is currently owned by institutional investors and hedge funds.

Canadian Natural Resources Trading Down 3.9%

Shares of NYSE CNQ opened at $31.43 on Friday. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.54 and a current ratio of 0.85. Canadian Natural Resources Limited has a 52-week low of $24.65 and a 52-week high of $37.91. The firm has a 50 day moving average price of $31.33 and a two-hundred day moving average price of $30.86. The stock has a market cap of $65.59 billion, a P/E ratio of 11.14 and a beta of 0.97.

Canadian Natural Resources (NYSE:CNQ) (TSE:CNQ) last announced its quarterly earnings results on Thursday, August 7th. The oil and gas producer reported $0.51 earnings per share (EPS) for the quarter, beating 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 analysts’ expectations of $8.97 billion. During the same period in the prior year, the company posted $0.88 EPS. As a group, equities analysts forecast that Canadian Natural Resources Limited will post 2.45 EPS for the current year.

Canadian Natural Resources Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 3rd. Stockholders of record on Friday, September 19th were given a dividend of $0.4269 per share. This represents a $1.71 annualized dividend and a dividend yield of 5.4%. This is a boost from Canadian Natural Resources’s previous quarterly dividend of $0.42. The ex-dividend date was Friday, September 19th. Canadian Natural Resources’s dividend payout ratio is currently 60.64%.

Wall Street Analyst Weigh In

CNQ has been the subject of a number of research analyst reports. Scotiabank reiterated an “outperform” rating on shares of Canadian Natural Resources in a research report on Thursday. Zacks Research upgraded shares of Canadian Natural Resources from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, August 26th. National Bankshares reiterated a “sector perform” rating on shares of Canadian Natural Resources in a research report on Thursday, July 17th. Weiss Ratings restated a “hold (c)” rating on shares of Canadian Natural Resources in a research report on Wednesday. Finally, Raymond James Financial restated an “outperform” rating on shares of Canadian Natural Resources in a research report on Friday, August 8th. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $62.00.

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).