11,493 Shares in Canadian Natural Resources Limited $CNQ Purchased by Sagespring Wealth Partners LLC

Key Points

• Sagespring Wealth Partners LLC acquired a new stake in Canadian Natural Resources Limited, purchasing 11,493 shares valued at approximately $361,000 in the 2nd quarter.
• The company announced a quarterly dividend of $0.4269 per share, which represents an annualized dividend yield of 5.7% and an increase from the previous dividend of $0.42.
• Canadian Natural Resources reported earnings of $0.51 per share for the last quarter, exceeding the consensus estimate of $0.44, despite revenue of $6.39 billion falling short of expectations.

Sagespring Wealth Partners LLC purchased a new stake in shares of Canadian Natural Resources Limited (NYSE:CNQ - Free Report) TSE: CNQ in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 11,493 shares of the oil and gas producer's stock, valued at approximately $361,000.

A number of other large investors have also added to or reduced their stakes in the company. Ameritas Advisory Services LLC purchased a new position in shares of Canadian Natural Resources in the second quarter valued at $27,000. Investment Management Corp VA ADV grew its stake in shares of Canadian Natural Resources by 158.3% in the 1st quarter. Investment Management Corp VA ADV now owns 997 shares of the oil and gas producer's stock worth $31,000 after buying an additional 611 shares in the last quarter. Sierra Ocean LLC increased its holdings in shares of Canadian Natural Resources by 104.0% in the 1st quarter. Sierra Ocean LLC now owns 1,569 shares of the oil and gas producer's stock worth $48,000 after buying an additional 800 shares during the last quarter. Geneos Wealth Management Inc. lifted its holdings in shares of Canadian Natural Resources by 47.3% in the 1st quarter. Geneos Wealth Management Inc. now owns 1,644 shares of the oil and gas producer's stock valued at $51,000 after acquiring an additional 528 shares during the last quarter. Finally, Adirondack Trust Co. lifted its holdings in shares of Canadian Natural Resources by 317.1% in the 2nd quarter. Adirondack Trust Co. now owns 1,710 shares of the oil and gas producer's stock valued at $54,000 after acquiring an additional 1,300 shares during the last quarter. Institutional investors own 74.03% of the company's stock.

Canadian Natural Resources Price Performance

CNQ opened at $30.10 on Friday. The business has a fifty day moving average of $31.32 and a 200 day moving average of $30.85. The stock has a market cap of $62.82 billion, a P/E ratio of 10.67 and a beta of 0.97. The company has a quick ratio of 0.54, a current ratio of 0.85 and a debt-to-equity ratio of 0.38. Canadian Natural Resources Limited has a 52-week low of $24.65 and a 52-week high of $35.93.

Canadian Natural Resources (NYSE:CNQ - Get Free Report) TSE: CNQ last released its earnings results on Thursday, August 7th. The oil and gas producer reported $0.51 earnings per share for the quarter, topping the consensus estimate of $0.44 by $0.07. The business had revenue of $6.39 billion during the quarter, compared to the consensus estimate of $8.97 billion. Canadian Natural Resources had a return on equity of 19.67% and a net margin of 19.00%.During the same period last year, the company earned $0.88 earnings per share. As a group, sell-side analysts anticipate that Canadian Natural Resources Limited will post 2.45 EPS for the current year.

Canadian Natural Resources Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, October 3rd. Shareholders of record on Friday, September 19th were paid a $0.4269 dividend. The ex-dividend date was Friday, September 19th. This represents a $1.71 dividend on an annualized basis and a yield of 5.7%. This is an increase from Canadian Natural Resources's previous quarterly dividend of $0.42. Canadian Natural Resources's payout ratio is currently 60.64%.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the company. Scotiabank restated an "outperform" rating on shares of Canadian Natural Resources in a research report on Thursday, October 9th. Zacks Research upgraded Canadian Natural Resources from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, August 26th. Royal Bank Of Canada reiterated an "outperform" rating and set a $62.00 price objective on shares of Canadian Natural Resources in a research report on Wednesday, September 24th. Weiss Ratings reissued a "hold (c)" rating on shares of Canadian Natural Resources in a research note on Wednesday, October 8th. Finally, TD Securities reaffirmed a "buy" rating on shares of Canadian Natural Resources in a research note on Tuesday, September 30th. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat, Canadian Natural Resources currently has an average rating of "Moderate Buy" and an average price target of $62.00.

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).

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