19,943 Shares in Canadian Natural Resources Limited (NYSE:CNQ) Bought by Ted Buchan & Co

Ted Buchan & Co acquired a new position in shares of Canadian Natural Resources Limited (NYSE:CNQ) (TSE:CNQ) during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 19,943 shares of the oil and gas producer’s stock, valued at approximately $710,000.

Several other large investors have also recently added to or reduced their stakes in CNQ. Park Place Capital Corp lifted its stake in Canadian Natural Resources by 100.0% during the second quarter. Park Place Capital Corp now owns 716 shares of the oil and gas producer’s stock worth $25,000 after purchasing an additional 358 shares during the last quarter. RFP Financial Group LLC increased its position in Canadian Natural Resources by 98.3% in the second quarter. RFP Financial Group LLC now owns 710 shares of the oil and gas producer’s stock worth $25,000 after buying an additional 352 shares during the period. Sugarloaf Wealth Management LLC increased its position in Canadian Natural Resources by 100.0% in the second quarter. Sugarloaf Wealth Management LLC now owns 728 shares of the oil and gas producer’s stock worth $26,000 after buying an additional 364 shares during the period. Bruce G. Allen Investments LLC increased its position in Canadian Natural Resources by 91.6% in the second quarter. Bruce G. Allen Investments LLC now owns 868 shares of the oil and gas producer’s stock worth $31,000 after buying an additional 415 shares during the period. Finally, GAMMA Investing LLC increased its position in Canadian Natural Resources by 104.7% in the second quarter. GAMMA Investing LLC now owns 874 shares of the oil and gas producer’s stock worth $31,000 after buying an additional 447 shares during the period. 74.03% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on CNQ. Scotiabank reaffirmed a “sector perform” rating on shares of Canadian Natural Resources in a research report on Tuesday, June 11th. StockNews.com lowered Canadian Natural Resources from a “buy” rating to a “hold” rating in a report on Friday, August 23rd. Finally, Wolfe Research began coverage on Canadian Natural Resources in a report on Thursday, July 18th. They set a “peer perform” rating on the stock. Six investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $49.50.

Canadian Natural Resources Price Performance

Shares of CNQ opened at $33.21 on Tuesday. The firm has a market capitalization of $70.67 billion, a price-to-earnings ratio of 13.23 and a beta of 1.51. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.59 and a current ratio of 0.88. Canadian Natural Resources Limited has a one year low of $29.45 and a one year high of $41.29. The stock’s fifty day moving average is $34.51 and its 200-day moving average is $36.30.

Canadian Natural Resources (NYSE:CNQ) (TSE:CNQ) last issued its quarterly earnings results on Thursday, August 1st. The oil and gas producer reported $0.88 EPS for the quarter, beating analysts’ consensus estimates of $0.62 by $0.26. The company 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 last year, the company earned $0.43 earnings per share. Equities analysts anticipate that Canadian Natural Resources Limited will post 2.47 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. Investors of record on Friday, September 13th will be issued a dividend of $0.384 per share. This represents a $1.54 dividend on an annualized basis and a yield of 4.63%. The ex-dividend date of this dividend is Friday, September 13th. Canadian Natural Resources’s payout ratio is currently 61.75%.

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).