Canadian Natural Resources Limited $CNQ Shares Bought by Sequoia Financial Advisors LLC

Key Points

• Sequoia Financial Advisors LLC increased its stake in Canadian Natural Resources Limited by 44.6%, owning 35,803 shares valued at approximately $1,124,000.
• Canadian Natural Resources recently declared a quarterly dividend of $0.4269 per share, marking a rise from the previous quarterly dividend and yielding 5.7% annually.
• Analysts have given Canadian Natural Resources a consensus rating of "Moderate Buy" with a price target of $62.00, with several firms restating favorable ratings recently.

Sequoia Financial Advisors LLC grew its position in shares of Canadian Natural Resources Limited (NYSE:CNQ - Free Report) TSE: CNQ by 44.6% during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 35,803 shares of the oil and gas producer's stock after purchasing an additional 11,043 shares during the period. Sequoia Financial Advisors LLC's holdings in Canadian Natural Resources were worth $1,124,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of CNQ. Ameritas Advisory Services LLC acquired a new stake in shares of Canadian Natural Resources in the second quarter valued at $27,000. Investment Management Corp VA ADV grew its holdings in shares of Canadian Natural Resources by 158.3% during the first quarter. Investment Management Corp VA ADV now owns 997 shares of the oil and gas producer's stock worth $31,000 after purchasing an additional 611 shares during the last quarter. Sierra Ocean LLC grew its holdings in shares of Canadian Natural Resources by 104.0% during the first quarter. Sierra Ocean LLC now owns 1,569 shares of the oil and gas producer's stock worth $48,000 after purchasing an additional 800 shares during the last quarter. Geneos Wealth Management Inc. grew its holdings in shares of Canadian Natural Resources by 47.3% during the first quarter. Geneos Wealth Management Inc. now owns 1,644 shares of the oil and gas producer's stock worth $51,000 after purchasing an additional 528 shares during the last quarter. Finally, Adirondack Trust Co. increased its position in 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 period. 74.03% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

CNQ has been the subject of a number of analyst reports. National Bankshares restated a "sector perform" rating on shares of Canadian Natural Resources in a research report on Thursday, July 17th. Weiss Ratings reiterated a "hold (c)" rating on shares of Canadian Natural Resources in a research report on Wednesday, October 8th. Royal Bank Of Canada restated an "outperform" rating and set a $62.00 price objective on shares of Canadian Natural Resources in a research report on Wednesday, September 24th. Raymond James Financial restated an "outperform" rating on shares of Canadian Natural Resources in a research report on Friday, August 8th. Finally, TD Securities reiterated a "buy" rating on shares of Canadian Natural Resources in a report on Tuesday, September 30th. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $62.00.

Canadian Natural Resources Stock Down 0.4%

Shares of Canadian Natural Resources stock opened at $30.10 on Friday. The company has a current ratio of 0.85, a quick ratio of 0.54 and a debt-to-equity ratio of 0.38. The company has a fifty day moving average price of $31.32 and a 200 day moving average price of $30.85. The stock has a market cap of $62.82 billion, a price-to-earnings ratio of 10.67 and a beta of 0.97. Canadian Natural Resources Limited has a twelve month low of $24.65 and a twelve month high of $35.93.

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 (EPS) for the quarter, beating analysts' consensus estimates of $0.44 by $0.07. The company had revenue of $6.39 billion during the quarter, compared to analyst estimates 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 quarter last year, the business posted $0.88 EPS. Equities research analysts forecast that Canadian Natural Resources Limited will post 2.45 earnings per share for the current fiscal year.

Canadian Natural Resources Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, October 3rd. Stockholders of record on Friday, September 19th were issued a dividend of $0.4269 per share. The ex-dividend date was Friday, September 19th. This represents a $1.71 dividend on an annualized basis and a dividend 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 60.64%.

About Canadian Natural Resources

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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