Stratos Wealth Partners LTD. Invests $249,000 in Canadian Natural Resources Limited (NYSE:CNQ)

Stratos Wealth Partners LTD. purchased a new stake in Canadian Natural Resources Limited (NYSE:CNQ) (TSE:CNQ) in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 8,095 shares of the oil and gas producer’s stock, valued at approximately $249,000.

Other institutional investors have also added to or reduced their stakes in the company. M&T Bank Corp grew its stake in shares of Canadian Natural Resources by 10.6% in the first quarter. M&T Bank Corp now owns 124,950 shares of the oil and gas producer’s stock worth $3,798,000 after purchasing an additional 11,941 shares during the last quarter. Dupree Financial Group LLC increased its stake in shares of Canadian Natural Resources by 189.1% during the 1st quarter. Dupree Financial Group LLC now owns 255,911 shares of the oil and gas producer’s stock worth $7,882,000 after purchasing an additional 167,395 shares during the last quarter. Crossmark Global Holdings Inc. grew its stake in Canadian Natural Resources by 0.6% in the 1st quarter. Crossmark Global Holdings Inc. now owns 433,615 shares of the oil and gas producer’s stock valued at $13,355,000 after buying an additional 2,770 shares in the last quarter. U.S. Capital Wealth Advisors LLC grew its position in shares of Canadian Natural Resources by 2.6% during the 1st quarter. U.S. Capital Wealth Advisors LLC now owns 634,511 shares of the oil and gas producer’s stock valued at $19,543,000 after purchasing an additional 16,018 shares in the last quarter. Finally, Cloud Capital Management LLC bought a new stake in shares of Canadian Natural Resources during the 1st quarter worth $68,000. 74.03% of the stock is currently owned by institutional investors and hedge funds.

Canadian Natural Resources Stock Performance

Shares of CNQ opened at $30.92 on Thursday. The company has a current ratio of 0.84, a quick ratio of 0.53 and a debt-to-equity ratio of 0.40. Canadian Natural Resources Limited has a 12 month low of $24.65 and a 12 month high of $37.91. The firm has a market cap of $64.68 billion, a PE ratio of 12.13 and a beta of 1.03. The stock has a fifty day moving average price of $31.69 and a 200-day moving average price of $30.43.

Canadian Natural Resources (NYSE:CNQ) (TSE:CNQ) last announced its quarterly earnings results on Thursday, May 8th. The oil and gas producer reported $0.81 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.73 by $0.08. The company had revenue of $6.96 billion during the quarter, compared to the consensus estimate of $10.14 billion. Canadian Natural Resources had a return on equity of 20.90% and a net margin of 16.92%. During the same period in the previous year, the company posted $1.37 earnings per share. Equities research analysts predict that Canadian Natural Resources Limited will post 2.45 earnings per share for the current fiscal year.

Canadian Natural Resources Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, July 3rd. Investors of record on Friday, June 13th were given a dividend of $0.4227 per share. The ex-dividend date was Friday, June 13th. This is a positive change from Canadian Natural Resources’s previous quarterly dividend of $0.41. This represents a $1.69 dividend on an annualized basis and a yield of 5.47%. Canadian Natural Resources’s payout ratio is presently 67.06%.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on CNQ. Scotiabank reissued an “outperform” rating on shares of Canadian Natural Resources in a research note on Friday, July 11th. Royal Bank Of Canada reiterated an “outperform” rating and issued a $63.00 price target on shares of Canadian Natural Resources in a research report on Thursday, March 27th. Finally, Raymond James Financial raised shares of Canadian Natural Resources from a “market perform” rating to an “outperform” rating in a research note on Wednesday, April 9th. Three research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $63.00.

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).