78,288 Shares in Canadian Natural Resources Limited $CNQ Acquired by Journey Advisory Group LLC

Key Points

• Journey Advisory Group LLC acquired 78,288 shares of Canadian Natural Resources Limited for approximately $2.46 million in the second quarter, highlighting an interest in the company among institutional investors.
• The company announced a dividend increase to $0.4269 per share, representing a yield of 5.7% and a payout ratio of 60.64%.
• Canadian Natural Resources reported earnings of $0.51 per share for the quarter, surpassing analysts' expectations, while projecting a fiscal year EPS of 2.45.

Journey Advisory Group LLC bought a new position 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 Securities and Exchange Commission (SEC). The fund bought 78,288 shares of the oil and gas producer's stock, valued at approximately $2,458,000.

Several other institutional investors have also recently added to or reduced their stakes in CNQ. T. Rowe Price Investment Management Inc. lifted its stake in Canadian Natural Resources by 29.1% in the first quarter. T. Rowe Price Investment Management Inc. now owns 43,968,120 shares of the oil and gas producer's stock valued at $1,354,219,000 after buying an additional 9,915,345 shares during the last quarter. Canada Pension Plan Investment Board lifted its stake in Canadian Natural Resources by 13.0% in the first quarter. Canada Pension Plan Investment Board now owns 41,769,153 shares of the oil and gas producer's stock valued at $1,285,464,000 after buying an additional 4,805,451 shares during the last quarter. TD Asset Management Inc lifted its stake in Canadian Natural Resources by 0.8% in the second quarter. TD Asset Management Inc now owns 41,581,125 shares of the oil and gas producer's stock valued at $1,304,267,000 after buying an additional 316,933 shares during the last quarter. Mackenzie Financial Corp lifted its stake in Canadian Natural Resources by 4.8% in the first quarter. Mackenzie Financial Corp now owns 33,100,240 shares of the oil and gas producer's stock valued at $1,018,469,000 after buying an additional 1,519,523 shares during the last quarter. Finally, 1832 Asset Management L.P. lifted its stake in Canadian Natural Resources by 1.9% in the first quarter. 1832 Asset Management L.P. now owns 31,822,379 shares of the oil and gas producer's stock valued at $980,129,000 after buying an additional 603,101 shares during the last quarter. Hedge funds and other institutional investors own 74.03% of the company's stock.

Canadian Natural Resources Trading Down 0.4%

Shares of CNQ stock opened at $30.10 on Monday. The business's fifty day moving average price is $31.32 and its 200 day moving average price is $30.85. Canadian Natural Resources Limited has a 1-year low of $24.65 and a 1-year high of $35.93. The firm has a market capitalization of $62.82 billion, a PE ratio of 10.67 and a beta of 0.97. The company has a debt-to-equity ratio of 0.38, a current ratio of 0.85 and a quick ratio of 0.54.

Canadian Natural Resources (NYSE:CNQ - Get Free Report) TSE: CNQ last announced its quarterly earnings data on Thursday, August 7th. The oil and gas producer reported $0.51 earnings per share for the quarter, topping analysts' consensus estimates of $0.44 by $0.07. Canadian Natural Resources had a return on equity of 19.67% and a net margin of 19.00%.The firm had revenue of $6.39 billion for the quarter, compared to analyst estimates of $8.97 billion. During the same quarter in the prior year, the company posted $0.88 earnings per share. As a group, sell-side analysts forecast that Canadian Natural Resources Limited will post 2.45 EPS for the current fiscal year.

Canadian Natural Resources Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, October 3rd. Shareholders of record on Friday, September 19th were given a dividend of $0.4269 per share. The ex-dividend date was Friday, September 19th. This is a positive change from Canadian Natural Resources's previous quarterly dividend of $0.42. This represents a $1.71 dividend on an annualized basis and a yield of 5.7%. Canadian Natural Resources's dividend payout ratio (DPR) is presently 60.64%.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on CNQ. Royal Bank Of Canada reiterated an "outperform" rating and issued a $62.00 price objective on shares of Canadian Natural Resources in a research note on Wednesday, September 24th. Wells Fargo & Company raised Canadian Natural Resources to a "hold" rating in a report on Thursday. Scotiabank reissued an "outperform" rating on shares of Canadian Natural Resources in a report on Thursday, October 9th. National Bankshares reissued a "sector perform" rating on shares of Canadian Natural Resources in a report on Thursday, July 17th. Finally, Raymond James Financial reissued an "outperform" rating on shares of Canadian Natural Resources in a report on Friday, August 8th. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and four have assigned a Hold rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price 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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