Mesirow Financial Investment Management Inc. Purchases 2,859 Shares of Canadian Natural Resources Limited (NYSE:CNQ)

Mesirow Financial Investment Management Inc. boosted its holdings in shares of Canadian Natural Resources Limited (NYSE:CNQ) (TSE:CNQ) by 98.8% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 5,754 shares of the oil and gas producer’s stock after acquiring an additional 2,859 shares during the quarter. Mesirow Financial Investment Management Inc.’s holdings in Canadian Natural Resources were worth $205,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Park Place Capital Corp lifted its stake in shares of Canadian Natural Resources by 100.0% in the 2nd quarter. Park Place Capital Corp now owns 716 shares of the oil and gas producer’s stock valued at $25,000 after purchasing an additional 358 shares during the last quarter. RFP Financial Group LLC raised its holdings in Canadian Natural Resources by 98.3% during the second quarter. RFP Financial Group LLC now owns 710 shares of the oil and gas producer’s stock valued at $25,000 after buying an additional 352 shares in the last quarter. Sugarloaf Wealth Management LLC lifted its position in shares of Canadian Natural Resources by 100.0% in the second quarter. Sugarloaf Wealth Management LLC now owns 728 shares of the oil and gas producer’s stock worth $26,000 after buying an additional 364 shares during the last quarter. Bruce G. Allen Investments LLC increased its holdings in shares of Canadian Natural Resources by 91.6% during the 2nd quarter. Bruce G. Allen Investments LLC now owns 868 shares of the oil and gas producer’s stock valued at $31,000 after acquiring an additional 415 shares during the last quarter. Finally, GAMMA Investing LLC raised its stake in shares of Canadian Natural Resources by 104.7% in the 2nd quarter. GAMMA Investing LLC now owns 874 shares of the oil and gas producer’s stock valued at $31,000 after acquiring an additional 447 shares in the last quarter. Institutional investors own 74.03% of the company’s stock.

Wall Street Analyst Weigh In

CNQ has been the topic of several analyst reports. Scotiabank reiterated a “sector perform” rating on shares of Canadian Natural Resources in a report on Tuesday, June 11th. Wolfe Research assumed coverage on shares of Canadian Natural Resources in a research note on Thursday, July 18th. They issued a “peer perform” rating on the stock. Raymond James raised shares of Canadian Natural Resources to a “hold” rating in a research report on Tuesday, May 28th. Finally, StockNews.com downgraded Canadian Natural Resources from a “buy” rating to a “hold” rating in a research report on Friday, August 23rd. Six equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $49.50.

Canadian Natural Resources Stock Performance

NYSE CNQ opened at $32.85 on Wednesday. The company’s fifty day moving average is $34.95 and its two-hundred day moving average is $36.46. The firm has a market capitalization of $69.90 billion, a price-to-earnings ratio of 13.09 and a beta of 1.51. 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 52-week low of $29.45 and a 52-week high of $41.29.

Canadian Natural Resources (NYSE:CNQ) (TSE:CNQ) last issued its quarterly earnings results on Thursday, August 1st. The oil and gas producer reported $0.88 earnings per share (EPS) for the quarter, beating the consensus estimate 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 firm had revenue of $7.76 billion for the quarter, compared to analyst estimates of $6.19 billion. During the same period in the previous year, the company posted $0.43 earnings per share. Equities research analysts forecast that Canadian Natural Resources Limited will post 2.49 EPS 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. Investors of record on Friday, September 13th will be given a dividend of $0.384 per share. This represents a $1.54 dividend on an annualized basis and a dividend yield of 4.68%. The ex-dividend date of this dividend is Friday, September 13th. Canadian Natural Resources’s dividend payout ratio (DPR) is currently 61.75%.

About Canadian Natural Resources

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).