Virtus ETF Advisers LLC purchased a new position in shares of Canadian Natural Resources Ltd (NYSE:CNQ) (TSE:CNQ) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 91,191 shares of the oil and gas producer’s stock, valued at approximately $2,459,000.
Other hedge funds also recently added to or reduced their stakes in the company. Caymus Capital Partners L.P. acquired a new stake in shares of Canadian Natural Resources during the second quarter worth approximately $12,869,000. Bank of Nova Scotia boosted its holdings in Canadian Natural Resources by 13.0% in the second quarter. Bank of Nova Scotia now owns 6,815,685 shares of the oil and gas producer’s stock worth $166,466,000 after purchasing an additional 785,983 shares during the period. Wetherby Asset Management Inc. boosted its holdings in Canadian Natural Resources by 3.8% in the first quarter. Wetherby Asset Management Inc. now owns 21,933 shares of the oil and gas producer’s stock worth $603,000 after purchasing an additional 808 shares during the period. Zions Bancorporation N.A. acquired a new position in Canadian Natural Resources in the first quarter worth $28,000. Finally, Trexquant Investment LP acquired a new position in Canadian Natural Resources in the second quarter worth $2,947,000. 65.10% of the stock is owned by institutional investors and hedge funds.
Shares of NYSE CNQ traded down $0.05 during midday trading on Friday, reaching $25.30. 147,313 shares of the company traded hands, compared to its average volume of 2,587,146. Canadian Natural Resources Ltd has a 52 week low of $21.85 and a 52 week high of $33.86. The stock has a 50-day moving average price of $23.97 and a 200 day moving average price of $26.83. The company has a debt-to-equity ratio of 0.57, a current ratio of 0.59 and a quick ratio of 0.44. The company has a market cap of $30.14 billion, a price-to-earnings ratio of 11.78, a PEG ratio of 1.51 and a beta of 1.16.
Canadian Natural Resources (NYSE:CNQ) (TSE:CNQ) last issued its quarterly earnings data on Thursday, August 1st. The oil and gas producer reported $0.87 earnings per share for the quarter, beating analysts’ consensus estimates of $0.62 by $0.25. Canadian Natural Resources had a net margin of 22.22% and a return on equity of 8.62%. The business had revenue of $4.16 billion for the quarter, compared to analysts’ expectations of $4.36 billion. During the same period in the previous year, the business earned $1.04 earnings per share. As a group, analysts expect that Canadian Natural Resources Ltd will post 2.38 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Friday, September 13th will be paid a dividend of $0.284 per share. This is a boost from Canadian Natural Resources’s previous quarterly dividend of $0.28. This represents a $1.14 dividend on an annualized basis and a dividend yield of 4.49%. The ex-dividend date is Thursday, September 12th. Canadian Natural Resources’s payout ratio is currently 51.63%.
CNQ has been the subject of a number of research reports. Goldman Sachs Group reaffirmed a “neutral” rating on shares of Canadian Natural Resources in a report on Monday, July 22nd. CIBC reiterated a “buy” rating and issued a $48.00 target price on shares of Canadian Natural Resources in a research note on Sunday, August 4th. Credit Suisse Group set a $48.00 target price on Canadian Natural Resources and gave the company a “buy” rating in a research note on Tuesday. Zacks Investment Research cut Canadian Natural Resources from a “buy” rating to a “hold” rating and set a $28.00 target price on the stock. in a research note on Monday, July 22nd. Finally, Canaccord Genuity reiterated a “buy” rating and issued a $53.00 target price on shares of Canadian Natural Resources in a research note on Tuesday, July 9th. One analyst has rated the stock with a sell rating, six have issued a hold rating and thirteen have given a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $41.88.
Canadian Natural Resources Company Profile
Canadian Natural Resources Limited explores for, develops, produces, and markets crude oil, natural gas, and natural gas liquids (NGLs). The company offers synthetic crude oil (SCO), light and medium crude oil, bitumen (thermal oil), primary heavy crude oil, and Pelican Lake heavy crude oil. Its midstream assets include two crude oil pipeline systems; and a 50% working interest in an 84-megawatt cogeneration plant at Primrose.
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