Envestnet Asset Management Inc. Buys 810,200 Shares of Canadian Natural Resources Limited (NYSE:CNQ)

Envestnet Asset Management Inc. grew its stake in shares of Canadian Natural Resources Limited (NYSE:CNQ) (TSE:CNQ) by 105.8% during the second quarter, Holdings Channel.com reports. The institutional investor owned 1,575,770 shares of the oil and gas producer’s stock after acquiring an additional 810,200 shares during the quarter. Envestnet Asset Management Inc.’s holdings in Canadian Natural Resources were worth $56,097,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Envestnet Portfolio Solutions Inc. boosted its holdings in Canadian Natural Resources by 0.9% during the first quarter. Envestnet Portfolio Solutions Inc. now owns 21,774 shares of the oil and gas producer’s stock worth $1,662,000 after buying an additional 204 shares during the last quarter. Bruce G. Allen Investments LLC raised its position in shares of 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 worth $35,000 after purchasing an additional 245 shares during the period. Cloverfields Capital Group LP raised its position in shares of 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 worth $2,444,000 after purchasing an additional 253 shares during the period. EverSource Wealth Advisors LLC raised 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 during the period. Finally, Naples Global Advisors LLC raised its position in shares of Canadian Natural Resources by 4.5% during the first quarter. Naples Global Advisors LLC now owns 6,410 shares of the oil and gas producer’s stock worth $494,000 after purchasing an additional 277 shares during the period. Institutional investors own 74.03% of the company’s stock.

Canadian Natural Resources Stock Up 0.0 %

NYSE:CNQ opened at $32.86 on Thursday. The firm has a market capitalization of $69.92 billion, a price-to-earnings ratio of 13.09 and a beta of 1.51. Canadian Natural Resources Limited has a twelve month low of $29.45 and a twelve month high of $41.29. The stock’s 50 day moving average price is $34.89 and its two-hundred day moving average price is $36.44. The company has a quick ratio of 0.59, a current ratio of 0.88 and a debt-to-equity ratio of 0.24.

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 earnings per share for the quarter, topping the consensus estimate of $0.62 by $0.26. The firm had revenue of $7.76 billion for the quarter, compared to analyst estimates of $6.19 billion. Canadian Natural Resources had a return on equity of 22.09% and a net margin of 18.05%. During the same quarter in the previous year, the firm earned $0.43 EPS. Equities research analysts expect that Canadian Natural Resources Limited will post 2.49 earnings per share for the current fiscal year.

Canadian Natural Resources Cuts Dividend

The business 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. This represents a $1.54 annualized dividend and a dividend yield of 4.67%. The ex-dividend date is Friday, September 13th. Canadian Natural Resources’s dividend payout ratio (DPR) is 61.75%.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on CNQ shares. Raymond James raised Canadian Natural Resources to a “hold” rating in a research report on Tuesday, May 28th. Wolfe Research initiated coverage on Canadian Natural Resources in a research report on Thursday, July 18th. They issued a “peer perform” rating on the stock. Scotiabank reissued a “sector perform” rating on shares of Canadian Natural Resources in a research report on Tuesday, June 11th. Finally, StockNews.com lowered Canadian Natural Resources from a “buy” rating to a “hold” rating in a research report on Friday, August 23rd. 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, Canadian Natural Resources presently has an average rating of “Hold” and a consensus price target of $49.50.

About Canadian Natural Resources

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).