Canadian Natural Resources Limited $CNQ Shares Acquired by NewEdge Advisors LLC

NewEdge Advisors LLC grew its stake in shares of Canadian Natural Resources Limited (NYSE:CNQ - Free Report) TSE: CNQ by 72.9% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 126,078 shares of the oil and gas producer's stock after acquiring an additional 53,152 shares during the period. NewEdge Advisors LLC's holdings in Canadian Natural Resources were worth $4,980,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the company. Legacy Financial Advisors Inc. grew its position in Canadian Natural Resources by 3.0% in the 2nd quarter. Legacy Financial Advisors Inc. now owns 7,447 shares of the oil and gas producer's stock worth $294,000 after purchasing an additional 219 shares during the last quarter. Personal CFO Solutions LLC grew its holdings in Canadian Natural Resources by 1.7% during the first quarter. Personal CFO Solutions LLC now owns 15,199 shares of the oil and gas producer's stock worth $747,000 after acquiring an additional 251 shares during the period. Ted Buchan & Co raised its position in Canadian Natural Resources by 0.6% in the fourth quarter. Ted Buchan & Co now owns 43,814 shares of the oil and gas producer's stock worth $1,483,000 after acquiring an additional 260 shares in the last quarter. Allworth Financial LP lifted its holdings in Canadian Natural Resources by 2.5% in the 2nd quarter. Allworth Financial LP now owns 10,854 shares of the oil and gas producer's stock valued at $429,000 after acquiring an additional 262 shares during the last quarter. Finally, FDx Advisors Inc. raised its holdings in shares of Canadian Natural Resources by 2.7% in the 4th quarter. FDx Advisors Inc. now owns 10,312 shares of the oil and gas producer's stock worth $349,000 after purchasing an additional 270 shares in the last quarter. 74.03% of the stock is currently owned by institutional investors.

Canadian Natural Resources Stock Up 0.5%

NYSE:CNQ opened at $50.33 on Tuesday. The company has a market cap of $103.79 billion, a PE ratio of 12.43 and a beta of 0.47. Canadian Natural Resources Limited has a 52-week low of $29.68 and a 52-week high of $52.31. The stock has a 50-day simple moving average of $47.32 and a 200 day simple moving average of $46.23. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.75 and a current ratio of 1.00.

Canadian Natural Resources (NYSE:CNQ - Get Free Report) TSE: CNQ last released its earnings results on Thursday, August 6th. The oil and gas producer reported $1.58 earnings per share for the quarter, beating the consensus estimate of $1.43 by $0.15. The business had revenue of $14.74 billion during the quarter, compared to analysts' expectations of $9.40 billion. Canadian Natural Resources had a net margin of 22.78% and a return on equity of 23.91%. On average, sell-side analysts expect that Canadian Natural Resources Limited will post 4.05 EPS for the current fiscal year.

Canadian Natural Resources Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, October 2nd. Stockholders of record on Friday, September 11th will be paid a dividend of $0.625 per share. This represents a $2.50 dividend on an annualized basis and a dividend yield of 5.0%. The ex-dividend date is Friday, September 11th. Canadian Natural Resources's dividend payout ratio (DPR) is currently 44.44%.

Analysts Set New Price Targets

Several research firms have recently weighed in on CNQ. Wall Street Zen raised shares of Canadian Natural Resources from a "hold" rating to a "buy" rating in a research report on Saturday, August 15th. Weiss Ratings lowered shares of Canadian Natural Resources from a "buy (b)" rating to a "buy (b-)" rating in a research report on Friday, September 4th. Scotiabank reaffirmed a "sector perform" rating on shares of Canadian Natural Resources in a report on Friday, August 7th. Zacks Research lowered shares of Canadian Natural Resources from a "strong-buy" rating to a "hold" rating in a report on Wednesday, August 19th. Finally, Desjardins raised shares of Canadian Natural Resources to a "hold" rating in a research note on Thursday, July 16th. Seven research analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat.com, Canadian Natural Resources currently has a consensus rating of "Moderate Buy" and an average target price of $57.00.

Canadian Natural Resources Company Profile

Canadian Natural Resources Limited (CNRL) is a Canadian independent crude oil and natural gas exploration, development, production, marketing and refining company headquartered in Calgary, Alberta. The company produces a range of energy products, including heavy and light crude oil, synthetic crude oil, natural gas and natural gas liquids.

CNRL's operations are concentrated in Western Canada, where it holds significant oil sands, conventional oil and natural gas assets. Its oil sands business includes mining and upgrading operations as well as in situ thermal projects.

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