Advisors Asset Management Inc. Sells 2,123 Shares of Canadian Natural Resources Limited $CNQ

Advisors Asset Management Inc. lessened its position in shares of Canadian Natural Resources Limited (NYSE:CNQ) (TSE:CNQ) by 4.5% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 45,079 shares of the oil and gas producer’s stock after selling 2,123 shares during the quarter. Advisors Asset Management Inc.’s holdings in Canadian Natural Resources were worth $1,415,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in CNQ. Ameritas Advisory Services LLC purchased a new stake in Canadian Natural Resources in the 2nd quarter worth about $27,000. Addison Advisors LLC boosted its position in shares of Canadian Natural Resources by 309.1% during the second quarter. Addison Advisors LLC now owns 896 shares of the oil and gas producer’s stock valued at $28,000 after buying an additional 677 shares during the period. Geneos Wealth Management Inc. grew its stake in shares of Canadian Natural Resources by 47.3% during the first quarter. Geneos Wealth Management Inc. now owns 1,644 shares of the oil and gas producer’s stock valued at $51,000 after buying an additional 528 shares during the last quarter. Adirondack Trust Co. raised its holdings in shares of Canadian Natural Resources by 317.1% in the second quarter. Adirondack Trust Co. now owns 1,710 shares of the oil and gas producer’s stock worth $54,000 after buying an additional 1,300 shares during the period. Finally, Bruce G. Allen Investments LLC raised its holdings in shares of Canadian Natural Resources by 116.7% in the second quarter. Bruce G. Allen Investments LLC now owns 1,788 shares of the oil and gas producer’s stock worth $56,000 after buying an additional 963 shares during the period. Institutional investors own 74.03% of the company’s stock.

Canadian Natural Resources Stock Performance

CNQ stock opened at $33.82 on Monday. Canadian Natural Resources Limited has a 1-year low of $24.65 and a 1-year high of $34.97. The business has a 50-day moving average price of $32.11 and a 200 day moving average price of $31.65. The company has a market capitalization of $70.46 billion, a P/E ratio of 11.99 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 (NYSE:CNQ) (TSE:CNQ) last posted its earnings results on Thursday, November 6th. The oil and gas producer reported $0.62 EPS for the quarter, beating analysts’ consensus estimates of $0.54 by $0.08. Canadian Natural Resources had a net margin of 19.00% and a return on equity of 19.67%. The business had revenue of $6.79 billion for the quarter, compared to the consensus estimate of $6.81 billion. During the same quarter last year, the firm posted $0.97 EPS. As a group, equities research analysts forecast that Canadian Natural Resources Limited will post 2.45 EPS for the current fiscal year.

Canadian Natural Resources Increases Dividend

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

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the company. Raymond James Financial restated an “outperform” rating on shares of Canadian Natural Resources in a report on Friday, August 8th. Zacks Research upgraded Canadian Natural Resources from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, August 26th. Wells Fargo & Company upgraded shares of Canadian Natural Resources to a “hold” rating in a report on Thursday, October 16th. Scotiabank reaffirmed an “outperform” rating on shares of Canadian Natural Resources in a research note on Thursday, October 9th. Finally, Royal Bank Of Canada reiterated an “outperform” rating and set a $62.00 price objective on shares of Canadian Natural Resources in a report on Wednesday, September 24th. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and five have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $62.00.

Canadian Natural Resources 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).