HBK Sorce Advisory LLC Acquires 6,692 Shares of Canadian Natural Resources Limited (NYSE:CNQ)

HBK Sorce Advisory LLC lifted its holdings in Canadian Natural Resources Limited (NYSE:CNQ) (TSE:CNQ) by 99.7% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 13,404 shares of the oil and gas producer’s stock after purchasing an additional 6,692 shares during the period. HBK Sorce Advisory LLC’s holdings in Canadian Natural Resources were worth $477,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Envestnet Portfolio Solutions Inc. boosted its stake 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 acquiring an additional 204 shares in the last quarter. Bruce G. Allen Investments LLC grew its holdings in Canadian Natural Resources by 117.8% during 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 purchasing an additional 245 shares during the last quarter. Cloverfields Capital Group LP grew its holdings in Canadian Natural Resources by 0.8% during the first quarter. Cloverfields Capital Group LP now owns 32,017 shares of the oil and gas producer’s stock valued at $2,444,000 after purchasing an additional 253 shares during the last quarter. EverSource Wealth Advisors LLC raised its position in shares of Canadian Natural Resources by 11.8% in the fourth quarter. EverSource Wealth Advisors LLC now owns 2,430 shares of the oil and gas producer’s stock valued at $159,000 after purchasing an additional 256 shares during the period. Finally, Naples Global Advisors LLC lifted its stake in shares of Canadian Natural Resources by 4.5% in the first quarter. Naples Global Advisors LLC now owns 6,410 shares of the oil and gas producer’s stock worth $494,000 after buying an additional 277 shares during the last quarter. 74.03% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

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

Canadian Natural Resources Stock Down 0.9 %

Shares of CNQ opened at $31.97 on Friday. Canadian Natural Resources Limited has a 52 week low of $29.45 and a 52 week high of $41.29. The firm has a market capitalization of $67.86 billion, a P/E ratio of 12.74 and a beta of 1.51. The company has a 50-day simple moving average of $35.07 and a 200-day simple moving average of $36.48. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.59 and a current ratio of 0.88.

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, 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 during the quarter, compared to analysts’ expectations of $6.19 billion. During the same quarter in the prior year, the firm posted $0.43 EPS. On average, equities research analysts expect that Canadian Natural Resources Limited will post 2.49 earnings per share 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 $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 4.80%. Canadian Natural Resources’s dividend payout ratio (DPR) is currently 61.35%.

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).