Trinity Legacy Partners LLC Buys 44,266 Shares of Canadian Natural Resources Limited (NYSE:CNQ)

Trinity Legacy Partners LLC raised its stake in Canadian Natural Resources Limited (NYSE:CNQ) (TSE:CNQ) by 101.8% in the second quarter, Holdings Channel.com reports. The firm owned 87,759 shares of the oil and gas producer’s stock after acquiring an additional 44,266 shares during the period. Trinity Legacy Partners LLC’s holdings in Canadian Natural Resources were worth $3,124,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently bought and sold shares of CNQ. Capital World Investors lifted its stake in shares of Canadian Natural Resources by 0.5% in the first quarter. Capital World Investors now owns 144,344,207 shares of the oil and gas producer’s stock valued at $11,011,765,000 after buying an additional 684,532 shares during the period. Vanguard Group Inc. raised its holdings in Canadian Natural Resources by 1.7% in the 1st quarter. Vanguard Group Inc. now owns 43,813,537 shares of the oil and gas producer’s stock valued at $3,343,849,000 after acquiring an additional 714,346 shares in the last quarter. TD Asset Management Inc increased its position in shares of Canadian Natural Resources by 96.2% during the second quarter. TD Asset Management Inc now owns 42,518,833 shares of the oil and gas producer’s stock valued at $1,514,190,000 after purchasing an additional 20,843,193 shares during the period. Canada Pension Plan Investment Board lifted its position in Canadian Natural Resources by 93.0% in the second quarter. Canada Pension Plan Investment Board now owns 41,464,502 shares of the oil and gas producer’s stock worth $1,476,644,000 after purchasing an additional 19,980,902 shares during the period. Finally, 1832 Asset Management L.P. boosted its stake in Canadian Natural Resources by 105.3% during the second quarter. 1832 Asset Management L.P. now owns 31,668,045 shares of the oil and gas producer’s stock worth $1,127,382,000 after buying an additional 16,245,046 shares in the last quarter. 74.03% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms have recently weighed in on CNQ. Scotiabank reiterated a “sector perform” rating on shares of Canadian Natural Resources in a research note on Tuesday, June 11th. StockNews.com downgraded shares of Canadian Natural Resources from a “buy” rating to a “hold” rating in a report on Friday, August 23rd. Wolfe Research began 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, Raymond James upgraded shares of Canadian Natural Resources to a “hold” rating in a research note on Tuesday, May 28th. Six investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $49.50.

Canadian Natural Resources Stock Performance

Canadian Natural Resources stock opened at $34.61 on Wednesday. Canadian Natural Resources Limited has a 12-month low of $29.45 and a 12-month high of $41.29. The stock has a 50-day simple moving average of $34.69 and a 200 day simple moving average of $36.39. The company has a quick ratio of 0.59, a current ratio of 0.88 and a debt-to-equity ratio of 0.24. The stock has a market capitalization of $73.29 billion, a price-to-earnings ratio of 13.79 and a beta of 1.51.

Canadian Natural Resources (NYSE:CNQ) (TSE:CNQ) last announced its earnings results on Thursday, August 1st. The oil and gas producer reported $0.88 earnings per share for the quarter, topping analysts’ consensus estimates 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 company had revenue of $7.76 billion during the quarter, compared to the consensus estimate of $6.19 billion. During the same period in the previous year, the firm posted $0.43 earnings per share. On average, research analysts anticipate that Canadian Natural Resources Limited will post 2.47 earnings per share for the current fiscal year.

Canadian Natural Resources Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 4th. Shareholders of record on Friday, September 13th will be issued a dividend of $0.384 per share. This represents a $1.54 annualized dividend and a yield of 4.44%. The ex-dividend date of this dividend is Friday, September 13th. Canadian Natural Resources’s dividend payout ratio is 62.15%.

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).