Alaethes Wealth LLC Acquires 25,469 Shares of Canadian Natural Resources Limited (NYSE:CNQ)

Alaethes Wealth LLC lifted its holdings in shares of Canadian Natural Resources Limited (NYSE:CNQ) (TSE:CNQ) by 102.6% in the 2nd quarter, HoldingsChannel reports. The fund owned 50,295 shares of the oil and gas producer’s stock after purchasing an additional 25,469 shares during the period. Alaethes Wealth LLC’s holdings in Canadian Natural Resources were worth $1,791,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Park Place Capital Corp grew its position in 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 worth $25,000 after purchasing an additional 358 shares in the last quarter. RFP Financial Group LLC boosted its position in 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 worth $25,000 after purchasing an additional 352 shares during the last quarter. Sugarloaf Wealth Management LLC grew its stake in Canadian Natural Resources by 100.0% in the 2nd quarter. Sugarloaf Wealth Management LLC now owns 728 shares of the oil and gas producer’s stock valued at $26,000 after purchasing an additional 364 shares during the period. Bruce G. Allen Investments LLC increased its position 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 purchasing an additional 415 shares during the last quarter. Finally, GAMMA Investing LLC raised its stake in shares of Canadian Natural Resources by 104.7% during the 2nd quarter. GAMMA Investing LLC now owns 874 shares of the oil and gas producer’s stock worth $31,000 after purchasing an additional 447 shares during the period. Institutional investors and hedge funds own 74.03% of the company’s stock.

Canadian Natural Resources Stock Down 1.2 %

CNQ opened at $33.38 on Friday. The company has a 50 day moving average of $34.78 and a 200 day moving average of $36.41. 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 Limited has a 12 month low of $29.45 and a 12 month high of $41.29. The company has a market cap of $71.03 billion, a PE ratio of 13.30 and a beta of 1.51.

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

Canadian Natural Resources Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 4th. Shareholders of record on Friday, September 13th will be given a dividend of $0.384 per share. The ex-dividend date of this dividend is Friday, September 13th. This represents a $1.54 annualized dividend and a yield of 4.60%. Canadian Natural Resources’s payout ratio is 61.75%.

Analyst Ratings Changes

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