Moneta Group Investment Advisors LLC bought a new stake in shares of Canadian Natural Resources Ltd (NYSE:CNQ) (TSE:CNQ) during the 2nd quarter, HoldingsChannel reports. The firm bought 1,567 shares of the oil and gas producer’s stock, valued at approximately $1,033,000.
Other large investors have also added to or reduced their stakes in the company. Icon Wealth Partners LLC acquired a new position in Canadian Natural Resources in the 1st quarter worth about $28,000. Zions Bancorporation N.A. bought a new stake in shares of Canadian Natural Resources in the 1st quarter valued at approximately $28,000. Bremer Bank National Association acquired a new position in Canadian Natural Resources in the first quarter worth approximately $34,000. Huntington National Bank increased its holdings in Canadian Natural Resources by 348.8% in the second quarter. Huntington National Bank now owns 1,333 shares of the oil and gas producer’s stock worth $36,000 after buying an additional 1,036 shares during the last quarter. Finally, Cornerstone Advisors Inc. raised its position in Canadian Natural Resources by 245.3% during the first quarter. Cornerstone Advisors Inc. now owns 1,806 shares of the oil and gas producer’s stock valued at $50,000 after acquiring an additional 1,283 shares in the last quarter. 65.10% of the stock is currently owned by institutional investors.
Canadian Natural Resources stock traded down $0.25 on Wednesday, reaching $25.43. The company’s stock had a trading volume of 278,528 shares, compared to its average volume of 2,692,890. The business’s fifty day moving average price is $23.99 and its 200 day moving average price is $26.84. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.44 and a current ratio of 0.59. Canadian Natural Resources Ltd has a twelve month low of $21.85 and a twelve month high of $33.86. The company has a market cap of $30.52 billion, a price-to-earnings ratio of 11.80, a PEG ratio of 1.46 and a beta of 1.16.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Friday, September 13th will be issued a $0.284 dividend. This is a boost from Canadian Natural Resources’s previous quarterly dividend of $0.28. The ex-dividend date of this dividend is Thursday, September 12th. This represents a $1.14 annualized dividend and a yield of 4.47%. Canadian Natural Resources’s dividend payout ratio (DPR) is currently 51.63%.
A number of research firms have issued reports on CNQ. Zacks Investment Research cut shares of Canadian Natural Resources from a “buy” rating to a “hold” rating and set a $28.00 target price for the company. in a research note on Monday, July 22nd. Wells Fargo & Co lowered shares of Canadian Natural Resources from a “market perform” rating to an “underperform” rating in a research note on Friday, September 6th. Canaccord Genuity restated a “buy” rating and set a $53.00 price target on shares of Canadian Natural Resources in a report on Tuesday, July 9th. CIBC reaffirmed a “buy” rating and issued a $48.00 price objective on shares of Canadian Natural Resources in a research note on Sunday, August 4th. Finally, Goldman Sachs Group reiterated a “neutral” rating on shares of Canadian Natural Resources in a report on Monday, July 22nd. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and thirteen have issued a buy rating to the company. The company currently has a consensus rating of “Buy” and an average target price of $41.88.
About Canadian Natural Resources
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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