EverSource Wealth Advisors LLC Has $198,000 Holdings in Canadian Natural Resources Limited (NYSE:CNQ)

EverSource Wealth Advisors LLC raised its stake in Canadian Natural Resources Limited (NYSE:CNQ) (TSE:CNQ) by 108.9% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 5,583 shares of the oil and gas producer’s stock after acquiring an additional 2,910 shares during the quarter. EverSource Wealth Advisors LLC’s holdings in Canadian Natural Resources were worth $198,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in the stock. Capital World Investors boosted its position in 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 in the last quarter. Vanguard Group Inc. increased its holdings in shares of Canadian Natural Resources by 1.7% during the first quarter. Vanguard Group Inc. now owns 43,813,537 shares of the oil and gas producer’s stock worth $3,343,849,000 after buying an additional 714,346 shares in the last quarter. TD Asset Management Inc boosted its holdings in shares of Canadian Natural Resources by 96.2% during the 2nd 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 acquiring an additional 20,843,193 shares in the last quarter. Canada Pension Plan Investment Board grew its position in Canadian Natural Resources by 93.0% during the 2nd 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 acquiring an additional 19,980,902 shares during the last quarter. Finally, 1832 Asset Management L.P. increased its holdings in Canadian Natural Resources by 105.3% in the 2nd 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 purchasing an additional 16,245,046 shares in the last quarter. 74.03% of the stock is currently owned by institutional investors and hedge funds.

Canadian Natural Resources Trading Down 2.6 %

Shares of CNQ stock opened at $33.71 on Thursday. The stock has a 50-day moving average of $34.69 and a 200-day moving average of $36.39. Canadian Natural Resources Limited has a 1-year low of $29.45 and a 1-year high of $41.29. The stock has a market cap of $71.72 billion, a price-to-earnings ratio of 13.43 and a beta of 1.51. 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 (NYSE:CNQ) (TSE:CNQ) last released its quarterly earnings results on Thursday, August 1st. The oil and gas producer reported $0.88 earnings per share (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 during the quarter, compared to analyst estimates of $6.19 billion. During the same quarter last year, the business earned $0.43 EPS. On average, equities research analysts forecast that Canadian Natural Resources Limited will post 2.47 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 issued a $0.384 dividend. The ex-dividend date is Friday, September 13th. This represents a $1.54 annualized dividend and a yield of 4.56%. Canadian Natural Resources’s payout ratio is 61.75%.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on CNQ shares. Scotiabank reissued a “sector perform” rating on shares of Canadian Natural Resources in a research note on Tuesday, June 11th. StockNews.com lowered shares of Canadian Natural Resources from a “buy” rating to a “hold” rating in a report on Friday, August 23rd. Finally, Wolfe Research initiated coverage on shares of Canadian Natural Resources in a research note on Thursday, July 18th. They set a “peer perform” rating for the company. 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, the stock presently has a consensus rating of “Hold” and an average 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).