Canadian Natural Resources Limited (NYSE:CNQ) Shares Bought by Clearbridge Investments LLC

Clearbridge Investments LLC grew its position in Canadian Natural Resources Limited (NYSE:CNQ) (TSE:CNQ) by 64.4% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,186,643 shares of the oil and gas producer’s stock after purchasing an additional 464,677 shares during the period. Clearbridge Investments LLC owned approximately 0.06% of Canadian Natural Resources worth $42,243,000 as of its most recent SEC filing.

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

Analyst Upgrades and Downgrades

CNQ has been the topic of a number of recent research reports. StockNews.com cut shares of Canadian Natural Resources from a “buy” rating to a “hold” rating in a research report on Friday, August 23rd. Scotiabank reiterated a “sector perform” rating on shares of Canadian Natural Resources in a report on Tuesday, June 11th. Finally, Wolfe Research started coverage on Canadian Natural Resources in a research note on Thursday, July 18th. They set a “peer perform” rating for the company. Six 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 currently has a consensus rating of “Hold” and a consensus price target of $49.50.

Canadian Natural Resources Stock Up 1.7 %

Shares of NYSE:CNQ opened at $35.28 on Friday. Canadian Natural Resources Limited has a 12-month low of $29.45 and a 12-month high of $41.29. The company has a current ratio of 0.88, a quick ratio of 0.59 and a debt-to-equity ratio of 0.24. The firm has a market cap of $75.07 billion, a PE ratio of 14.06 and a beta of 1.50. The company has a fifty day simple moving average of $34.53 and a 200 day simple moving average of $36.27.

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 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 business had revenue of $7.76 billion for the quarter, compared to analysts’ expectations of $6.19 billion. During the same quarter last year, the company posted $0.43 earnings per share. On average, equities research analysts anticipate that Canadian Natural Resources Limited will post 2.47 EPS for the current fiscal year.

Canadian Natural Resources Cuts Dividend

The company also recently declared 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 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 is currently 61.75%.

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).