Allworth Financial LP Purchases 2,646 Shares of Canadian Natural Resources Limited $CNQ

Allworth Financial LP raised its position in shares of Canadian Natural Resources Limited (NYSE:CNQ) (TSE:CNQ) by 65.8% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 6,667 shares of the oil and gas producer’s stock after purchasing an additional 2,646 shares during the period. Allworth Financial LP’s holdings in Canadian Natural Resources were worth $209,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of CNQ. Allianz Asset Management GmbH raised its holdings in shares of Canadian Natural Resources by 650.3% during the 1st quarter. Allianz Asset Management GmbH now owns 841,074 shares of the oil and gas producer’s stock valued at $25,877,000 after buying an additional 728,975 shares in the last quarter. Roundview Capital LLC bought a new position in Canadian Natural Resources during the first quarter valued at approximately $1,657,000. Abel Hall LLC raised its stake in shares of Canadian Natural Resources by 39.8% during the first quarter. Abel Hall LLC now owns 15,527 shares of the oil and gas producer’s stock worth $478,000 after acquiring an additional 4,424 shares in the last quarter. Ninepoint Partners LP raised its stake in shares of Canadian Natural Resources by 63.9% during the first quarter. Ninepoint Partners LP now owns 3,090,334 shares of the oil and gas producer’s stock worth $95,182,000 after acquiring an additional 1,204,435 shares in the last quarter. Finally, Cadence Wealth Management LLC lifted its holdings in shares of Canadian Natural Resources by 8.2% in the 1st quarter. Cadence Wealth Management LLC now owns 16,712 shares of the oil and gas producer’s stock worth $515,000 after acquiring an additional 1,273 shares during the last quarter. 74.03% of the stock is currently owned by hedge funds and other institutional investors.

Canadian Natural Resources Stock Up 2.1%

Shares of NYSE:CNQ opened at $34.03 on Wednesday. The stock’s 50-day moving average is $31.86 and its 200 day moving average is $31.46. The company has a market cap of $70.90 billion, a PE ratio of 12.07 and a beta of 0.96. The company has a debt-to-equity ratio of 0.38, a current ratio of 0.85 and a quick ratio of 0.54. Canadian Natural Resources Limited has a 1 year low of $24.65 and a 1 year high of $34.97.

Canadian Natural Resources (NYSE:CNQ) (TSE:CNQ) last issued its quarterly earnings data on Thursday, November 6th. The oil and gas producer reported $0.62 earnings per share for the quarter, topping analysts’ consensus estimates of $0.54 by $0.08. Canadian Natural Resources had a return on equity of 19.67% and a net margin of 19.00%.The firm had revenue of $6.79 billion for the quarter, compared to analyst estimates of $6.81 billion. During the same period last year, the company earned $0.97 EPS. Sell-side analysts anticipate that Canadian Natural Resources Limited will post 2.45 EPS for the current year.

Canadian Natural Resources Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 6th. Shareholders of record on Friday, December 12th will be given a dividend of $0.5875 per share. This represents a $2.35 dividend on an annualized basis and a yield of 6.9%. The ex-dividend date of this dividend is Friday, December 12th. This is an increase from Canadian Natural Resources’s previous quarterly dividend of $0.43. Canadian Natural Resources’s payout ratio is presently 73.89%.

Wall Street Analyst Weigh In

Several research firms recently commented on CNQ. TD Securities reaffirmed a “buy” rating on shares of Canadian Natural Resources in a report on Tuesday, September 30th. Wells Fargo & Company upgraded shares of Canadian Natural Resources to a “hold” rating in a research report on Thursday, October 16th. Zacks Research upgraded Canadian Natural Resources from a “hold” rating to a “strong-buy” rating in a report on Tuesday, August 26th. Royal Bank Of Canada reissued an “outperform” rating and issued a $62.00 target price on shares of Canadian Natural Resources in a research note on Wednesday, September 24th. Finally, Scotiabank restated an “outperform” rating on shares of Canadian Natural Resources in a research report on Thursday, October 9th. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $62.00.

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).