Peak Financial Advisors LLC Raises Stock Holdings in Canadian Natural Resources Limited $CNQ

Key Points

• Peak Financial Advisors LLC increased its stake in Canadian Natural Resources Limited by 11.2% in Q2, bringing its total holdings to 85,869 shares valued at $2.69 million.
• Canadian Natural Resources recently raised its quarterly dividend to $0.4269, reflecting a 5.5% yield on an annualized basis, with a payout ratio of 60.64%.
• Wall Street analysts have a "Moderate Buy" consensus rating on the stock, with a revised target price of $62.00, and several brokerages have issued "outperform" ratings.

Peak Financial Advisors LLC increased its stake in shares of Canadian Natural Resources Limited (NYSE:CNQ - Free Report) TSE: CNQ by 11.2% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 85,869 shares of the oil and gas producer's stock after buying an additional 8,616 shares during the period. Canadian Natural Resources accounts for about 1.4% of Peak Financial Advisors LLC's portfolio, making the stock its 17th largest holding. Peak Financial Advisors LLC's holdings in Canadian Natural Resources were worth $2,696,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of the stock. T. Rowe Price Investment Management Inc. raised its holdings in Canadian Natural Resources by 29.1% in the 1st 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 acquiring an additional 9,915,345 shares during the period. Canada Pension Plan Investment Board raised its holdings in Canadian Natural Resources by 13.0% in the 1st 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 acquiring an additional 4,805,451 shares during the period. Mackenzie Financial Corp grew its holdings in Canadian Natural Resources by 4.8% in the 1st 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 in the last quarter. 1832 Asset Management L.P. grew its holdings in Canadian Natural Resources by 1.9% in the 1st 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 in the last quarter. Finally, Bank of Nova Scotia grew its holdings in Canadian Natural Resources by 86.6% in the 1st quarter. Bank of Nova Scotia now owns 24,262,707 shares of the oil and gas producer's stock valued at $746,675,000 after buying an additional 11,259,267 shares in the last quarter. 74.03% of the stock is owned by institutional investors.

Analyst Ratings Changes

CNQ has been the topic of a number of research reports. Scotiabank reaffirmed an "outperform" rating on shares of Canadian Natural Resources in a report on Friday, July 11th. Zacks Research upgraded shares of Canadian Natural Resources from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, August 26th. Royal Bank Of Canada lowered their target price on shares of Canadian Natural Resources from $64.00 to $62.00 and set an "outperform" rating on the stock in a report on Friday, August 8th. Raymond James Financial reaffirmed an "outperform" rating on shares of Canadian Natural Resources in a report on Friday, August 8th. Finally, National Bankshares reaffirmed a "sector perform" rating on shares of Canadian Natural Resources in a report on Thursday, July 17th. 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 data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $62.00.

Canadian Natural Resources Trading Down 1.9%

Shares of Canadian Natural Resources stock traded down $0.63 on Friday, hitting $31.48. 3,469,361 shares of the company's stock traded hands, compared to its average volume of 6,517,334. Canadian Natural Resources Limited has a one year low of $24.65 and a one year high of $37.91. The company has a debt-to-equity ratio of 0.38, a current ratio of 0.85 and a quick ratio of 0.54. The company has a fifty day moving average of $31.08 and a two-hundred day moving average of $30.54. The company has a market capitalization of $65.69 billion, a price-to-earnings ratio of 11.17 and a beta of 1.03.

Canadian Natural Resources (NYSE:CNQ - Get Free Report) TSE: CNQ last announced its earnings results on Thursday, August 7th. The oil and gas producer reported $0.51 EPS for the quarter, beating the consensus estimate of $0.44 by $0.07. The company had revenue of $6.39 billion for the quarter, compared to analyst estimates 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 quarter in the prior year, the company earned $0.88 EPS. As a group, sell-side analysts expect that Canadian Natural Resources Limited will post 2.45 earnings per share for the current year.

Canadian Natural Resources Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, October 3rd. Shareholders of record on Friday, September 19th will be issued a $0.4269 dividend. The ex-dividend date is Friday, September 19th. This is an increase from Canadian Natural Resources's previous quarterly dividend of $0.42. This represents a $1.71 annualized dividend and a yield of 5.4%. Canadian Natural Resources's dividend payout ratio is currently 60.64%.

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).