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

Parallel Advisors LLC boosted its stake in shares of Canadian Natural Resources Limited (NYSE:CNQ) (TSE:CNQ) by 139.4% in the second quarter, according to its most recent disclosure with the SEC. The firm owned 8,532 shares of the oil and gas producer’s stock after acquiring an additional 4,968 shares during the period. Parallel Advisors LLC’s holdings in Canadian Natural Resources were worth $304,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in CNQ. Envestnet Portfolio Solutions Inc. raised its position in shares of Canadian Natural Resources by 0.9% during the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 21,774 shares of the oil and gas producer’s stock worth $1,662,000 after purchasing an additional 204 shares during the last quarter. Bruce G. Allen Investments LLC lifted its position 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 acquiring an additional 245 shares in the last quarter. Cloverfields Capital Group LP boosted its stake in shares of Canadian Natural Resources by 0.8% in the first quarter. Cloverfields Capital Group LP now owns 32,017 shares of the oil and gas producer’s stock worth $2,444,000 after acquiring an additional 253 shares during the last quarter. EverSource Wealth Advisors LLC increased its position in shares of Canadian Natural Resources by 11.8% during the fourth quarter. EverSource Wealth Advisors LLC now owns 2,430 shares of the oil and gas producer’s stock worth $159,000 after purchasing an additional 256 shares in the last quarter. Finally, Naples Global Advisors LLC raised its stake in Canadian Natural Resources by 4.5% in the 1st quarter. Naples Global Advisors LLC now owns 6,410 shares of the oil and gas producer’s stock valued at $494,000 after purchasing an additional 277 shares during the last quarter. 74.03% of the stock is owned by hedge funds and other institutional investors.

Canadian Natural Resources Trading Up 0.0 %

Shares of CNQ opened at $32.86 on Thursday. Canadian Natural Resources Limited has a 12-month low of $29.45 and a 12-month high of $41.29. The firm has a market capitalization of $69.92 billion, a P/E ratio of 13.09 and a beta of 1.51. The firm has a 50-day moving average price of $34.89 and a 200 day moving average price of $36.44. The company has a current ratio of 0.88, a quick ratio of 0.59 and a debt-to-equity ratio of 0.24.

Canadian Natural Resources (NYSE:CNQ) (TSE:CNQ) last posted its earnings results on Thursday, August 1st. The oil and gas producer reported $0.88 earnings per share for the quarter, beating the consensus estimate of $0.62 by $0.26. The company had revenue of $7.76 billion for the quarter, compared to analyst estimates of $6.19 billion. Canadian Natural Resources had a net margin of 18.05% and a return on equity of 22.09%. During the same period in the previous year, the business posted $0.43 EPS. Sell-side analysts forecast that Canadian Natural Resources Limited will post 2.49 EPS for the current year.

Canadian Natural Resources Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 4th. Investors of record on Friday, September 13th will be given a $0.384 dividend. The ex-dividend date of this dividend is Friday, September 13th. This represents a $1.54 annualized dividend and a yield of 4.67%. Canadian Natural Resources’s payout ratio is 61.75%.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the stock. Scotiabank reaffirmed a “sector perform” rating on shares of Canadian Natural Resources in a research note on Tuesday, June 11th. Raymond James raised shares of Canadian Natural Resources to a “hold” rating in a research note on Tuesday, May 28th. StockNews.com lowered shares of Canadian Natural Resources from a “buy” rating to a “hold” rating in a research note on Friday, August 23rd. Finally, Wolfe Research assumed coverage on Canadian Natural Resources in a research report on Thursday, July 18th. They issued a “peer perform” rating for the company. Six equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $49.50.

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).