Thoroughbred Financial Services LLC Invests $464,000 in Canadian Natural Resources Limited (NYSE:CNQ)

Thoroughbred Financial Services LLC bought a new position in Canadian Natural Resources Limited (NYSE:CNQ) (TSE:CNQ) in the second quarter, HoldingsChannel.com reports. The institutional investor bought 13,038 shares of the oil and gas producer’s stock, valued at approximately $464,000.

A number of other hedge funds have also added to or reduced their stakes in CNQ. TD Asset Management Inc increased 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 worth $1,514,190,000 after purchasing an additional 20,843,193 shares in the last quarter. Yacktman Asset Management LP increased 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 worth $1,048,660,000 after purchasing an additional 14,418,835 shares in the last quarter. CIBC Asset Management Inc increased its holdings in Canadian Natural Resources by 93.6% in the second quarter. CIBC Asset Management Inc now owns 22,916,027 shares of the oil and gas producer’s stock worth $815,751,000 after purchasing an additional 11,077,189 shares in the last quarter. Capital International Investors increased its holdings in Canadian Natural Resources by 103.3% in the fourth quarter. Capital International Investors now owns 9,819,333 shares of the oil and gas producer’s stock worth $643,348,000 after purchasing an additional 4,989,634 shares in the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund bought a new stake in Canadian Natural Resources in the first quarter worth approximately $305,258,000. 74.03% of the stock is currently owned by institutional investors.

Canadian Natural Resources Stock Up 1.1 %

CNQ stock opened at $32.33 on Tuesday. The stock’s fifty day simple moving average is $35.00 and its two-hundred day simple moving average is $36.49. 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 $68.79 billion, a P/E ratio of 12.88 and a beta of 1.51.

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, beating the consensus estimate of $0.62 by $0.26. The firm had revenue of $7.76 billion for the quarter, compared to analyst estimates 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 period in the previous year, the company posted $0.43 earnings per share. Analysts expect that Canadian Natural Resources Limited will post 2.49 EPS for the current year.

Canadian Natural Resources Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, October 4th. Shareholders of record on Friday, September 13th will be paid a $0.384 dividend. The ex-dividend date of this dividend is Friday, September 13th. This represents a $1.54 annualized dividend and a dividend yield of 4.75%. Canadian Natural Resources’s payout ratio is presently 61.75%.

Analyst Upgrades and Downgrades

A number of brokerages have commented on CNQ. Raymond James raised Canadian Natural Resources to a “hold” rating in a research note on Tuesday, May 28th. Scotiabank reaffirmed a “sector perform” rating on shares of Canadian Natural Resources in a research report on Tuesday, June 11th. StockNews.com cut Canadian Natural Resources from a “buy” rating to a “hold” rating in a research report on Friday, August 23rd. Finally, Wolfe Research assumed coverage on Canadian Natural Resources in a research report on Thursday, July 18th. They set a “peer perform” rating on the stock. Six equities research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $49.50.

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).