AA Financial Advisors LLC Makes New Investment in Canadian Natural Resources Limited $CNQ

Key Points

• AA Financial Advisors LLC purchased 8,491 shares of Canadian Natural Resources Limited, valued at approximately $267,000, during the second quarter, according to a recent SEC filing.
• Several hedge funds have increased their stakes in Canadian Natural Resources, with notable increases from Canoe Financial LP by 29.4% and Bruce G. Allen Investments LLC by 116.7% in the same quarter.
• Canadian Natural Resources announced a quarterly dividend increase to $0.4269 per share, reflecting a 5.4% yield and a 60.64% payout ratio.

AA Financial Advisors LLC acquired a new position in shares of Canadian Natural Resources Limited (NYSE:CNQ - Free Report) TSE: CNQ in the second quarter, according to its most recent 13F filing with the SEC. The institutional investor acquired 8,491 shares of the oil and gas producer's stock, valued at approximately $267,000.

A number of other institutional investors and hedge funds have also made changes to their positions in CNQ. Goldman Sachs Group Inc. increased its holdings in shares of Canadian Natural Resources by 240.8% during the 1st quarter. Goldman Sachs Group Inc. now owns 22,776,594 shares of the oil and gas producer's stock worth $701,519,000 after buying an additional 16,094,168 shares during the last quarter. Bank of Nova Scotia boosted its position in Canadian Natural Resources by 86.6% during the 1st quarter. Bank of Nova Scotia now owns 24,262,707 shares of the oil and gas producer's stock worth $746,675,000 after purchasing an additional 11,259,267 shares during the period. T. Rowe Price Investment Management Inc. boosted its position in Canadian Natural Resources by 29.1% during the 1st quarter. T. Rowe Price Investment Management Inc. now owns 43,968,120 shares of the oil and gas producer's stock worth $1,354,219,000 after purchasing an additional 9,915,345 shares during the period. Canada Pension Plan Investment Board boosted its position in Canadian Natural Resources by 13.0% during the 1st quarter. Canada Pension Plan Investment Board now owns 41,769,153 shares of the oil and gas producer's stock worth $1,285,464,000 after purchasing an additional 4,805,451 shares during the period. Finally, Canoe Financial LP boosted its position in Canadian Natural Resources by 403.7% during the 1st quarter. Canoe Financial LP now owns 4,738,577 shares of the oil and gas producer's stock worth $145,828,000 after purchasing an additional 3,797,846 shares during the period. 74.03% of the stock is currently owned by institutional investors and hedge funds.

Canadian Natural Resources Price Performance

NYSE:CNQ traded up $0.21 during trading hours on Tuesday, reaching $32.32. 3,515,334 shares of the company's stock were exchanged, compared to its average volume of 6,529,338. The company has a market capitalization of $67.44 billion, a P/E ratio of 11.47 and a beta of 1.03. Canadian Natural Resources Limited has a 12 month low of $24.65 and a 12 month high of $37.91. The company has a quick ratio of 0.54, a current ratio of 0.85 and a debt-to-equity ratio of 0.38. The business's 50-day simple moving average is $31.08 and its two-hundred day simple moving average is $30.63.

Canadian Natural Resources (NYSE:CNQ - Get Free Report) TSE: CNQ last issued its earnings results 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. The firm had revenue of $6.39 billion during the quarter, compared to analysts' expectations of $8.97 billion. Canadian Natural Resources had a net margin of 19.00% and a return on equity of 19.67%. During the same period last year, the firm posted $0.88 earnings per share. Sell-side analysts expect that Canadian Natural Resources Limited will post 2.45 EPS for the current fiscal year.

Canadian Natural Resources Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 3rd. Investors of record on Friday, September 19th will be paid a $0.4269 dividend. The ex-dividend date of this dividend is Friday, September 19th. This represents a $1.71 dividend on an annualized basis and a yield of 5.3%. This is a positive change from Canadian Natural Resources's previous quarterly dividend of $0.42. Canadian Natural Resources's dividend payout ratio (DPR) is 60.28%.

Analysts Set New Price Targets

CNQ has been the subject of a number of research reports. Raymond James Financial reaffirmed an "outperform" rating on shares of Canadian Natural Resources in a research report on Friday, August 8th. National Bankshares reissued a "sector perform" rating on shares of Canadian Natural Resources in a research report on Thursday, July 17th. Royal Bank Of Canada decreased their price objective on shares of Canadian Natural Resources from $64.00 to $62.00 and set an "outperform" rating for the company in a research report on Friday, August 8th. Zacks Research raised shares of Canadian Natural Resources from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, August 26th. Finally, Scotiabank reissued an "outperform" rating on shares of Canadian Natural Resources in a research report on Friday, July 11th. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, Canadian Natural Resources presently has an average rating of "Moderate Buy" and a consensus price target of $62.00.

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).