Cetera Investment Advisers Acquires 35,962 Shares of Canadian Natural Resources Limited (NYSE:CNQ)

Cetera Investment Advisers lifted its holdings in shares of Canadian Natural Resources Limited (NYSE:CNQ) (TSE:CNQ) by 97.6% during the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 72,820 shares of the oil and gas producer’s stock after purchasing an additional 35,962 shares during the period. Cetera Investment Advisers’ holdings in Canadian Natural Resources were worth $2,592,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in CNQ. TD Asset Management Inc boosted its holdings in Canadian Natural Resources by 96.2% in 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 acquiring an additional 20,843,193 shares during the last quarter. Canada Pension Plan Investment Board boosted its holdings 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 valued at $1,476,644,000 after acquiring an additional 19,980,902 shares during the last quarter. 1832 Asset Management L.P. boosted its holdings in Canadian Natural Resources by 105.3% in the second quarter. 1832 Asset Management L.P. now owns 31,668,045 shares of the oil and gas producer’s stock valued at $1,127,382,000 after acquiring an additional 16,245,046 shares during the last quarter. Yacktman Asset Management LP boosted its holdings in Canadian Natural Resources by 95.9% in the second quarter. Yacktman Asset Management LP now owns 29,456,746 shares of the oil and gas producer’s stock valued at $1,048,660,000 after acquiring an additional 14,418,835 shares during the last quarter. Finally, Mackenzie Financial Corp boosted its holdings in Canadian Natural Resources by 90.3% in the second quarter. Mackenzie Financial Corp now owns 30,017,414 shares of the oil and gas producer’s stock valued at $1,069,338,000 after acquiring an additional 14,246,978 shares during the last quarter. Institutional investors own 74.03% of the company’s stock.

Canadian Natural Resources Price Performance

Shares of CNQ opened at $37.59 on Friday. 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 Limited has a 1 year low of $29.45 and a 1 year high of $41.29. The stock has a market cap of $79.99 billion, a P/E ratio of 14.98 and a beta of 1.50. The stock’s 50-day moving average price is $34.72 and its two-hundred day moving average price is $36.26.

Canadian Natural Resources (NYSE:CNQ) (TSE:CNQ) last issued its earnings results on Thursday, August 1st. The oil and gas producer reported $0.88 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.62 by $0.26. The firm had revenue of $7.76 billion for the quarter, compared to analysts’ expectations 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 last year, the business earned $0.43 earnings per share. On average, equities analysts predict that Canadian Natural Resources Limited will post 2.5 earnings per share for the current year.

Canadian Natural Resources Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 3rd. Stockholders of record on Friday, December 13th will be issued a dividend of $0.388 per share. This represents a $1.55 annualized dividend and a dividend yield of 4.13%. The ex-dividend date of this dividend is Friday, December 13th. This is a boost from Canadian Natural Resources’s previous quarterly dividend of $0.38. Canadian Natural Resources’s payout ratio is 66.14%.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on CNQ shares. Wolfe Research started coverage on Canadian Natural Resources in a report on Thursday, July 18th. They issued a “peer perform” rating on the stock. StockNews.com cut Canadian Natural Resources from a “buy” rating to a “hold” rating in a report on Friday, August 23rd. Finally, Desjardins upgraded Canadian Natural Resources from a “hold” rating to a “moderate buy” rating in a report on Tuesday. Five equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to MarketBeat.com, the stock currently 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).