Canadian Natural Resources Limited (NYSE:CNQ) Shares Purchased by EP Wealth Advisors LLC

EP Wealth Advisors LLC raised its position in Canadian Natural Resources Limited (NYSE:CNQ) (TSE:CNQ) by 141.8% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,332 shares of the oil and gas producer’s stock after acquiring an additional 6,646 shares during the quarter. EP Wealth Advisors LLC’s holdings in Canadian Natural Resources were worth $403,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Bruce G. Allen Investments LLC grew its holdings in shares of Canadian Natural Resources by 117.8% in the first quarter. Bruce G. Allen Investments LLC now owns 453 shares of the oil and gas producer’s stock valued at $35,000 after purchasing an additional 245 shares in the last quarter. YHB Investment Advisors Inc. purchased a new position in Canadian Natural Resources in the 1st quarter valued at approximately $37,000. LifeSteps Financial Inc. acquired a new position in shares of Canadian Natural Resources in the first quarter worth $46,000. RFP Financial Group LLC raised its stake in shares of Canadian Natural Resources by 98.3% in the second quarter. RFP Financial Group LLC now owns 710 shares of the oil and gas producer’s stock valued at $25,000 after acquiring an additional 352 shares in the last quarter. Finally, Park Place Capital Corp raised its stake in shares of Canadian Natural Resources by 100.0% in the second quarter. Park Place Capital Corp now owns 716 shares of the oil and gas producer’s stock valued at $25,000 after acquiring an additional 358 shares in the last quarter. 74.03% of the stock is currently owned by hedge funds and other institutional investors.

Canadian Natural Resources Price Performance

Shares of CNQ opened at $35.28 on Friday. The company has a market capitalization of $75.07 billion, a price-to-earnings ratio of 14.06 and a beta of 1.50. Canadian Natural Resources Limited has a fifty-two week low of $29.45 and a fifty-two week high of $41.29. The firm has a 50-day simple moving average of $34.53 and a 200-day simple moving average of $36.27. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.59 and a current ratio of 0.88.

Canadian Natural Resources (NYSE:CNQ) (TSE:CNQ) last released its earnings results 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. Canadian Natural Resources had a return on equity of 22.09% and a net margin of 18.05%. The business had revenue of $7.76 billion for the quarter, compared to analyst estimates of $6.19 billion. During the same quarter in the previous year, the company posted $0.43 earnings per share. On average, equities research analysts anticipate that Canadian Natural Resources Limited will post 2.47 earnings per share for the current year.

Canadian Natural Resources Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, October 4th. Stockholders of record on Friday, September 13th will be paid a $0.384 dividend. This represents a $1.54 annualized dividend and a dividend yield of 4.35%. The ex-dividend date of this dividend is Friday, September 13th. Canadian Natural Resources’s dividend payout ratio (DPR) is presently 61.75%.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on CNQ shares. StockNews.com downgraded Canadian Natural Resources from a “buy” rating to a “hold” rating in a report on Friday, August 23rd. Wolfe Research initiated coverage on shares of Canadian Natural Resources in a research note on Thursday, July 18th. They set a “peer perform” rating on the stock. Finally, Scotiabank reiterated a “sector perform” rating on shares of Canadian Natural Resources in a research note on Tuesday, June 11th. Six equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $49.50.

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).