Peak Financial Advisors LLC Grows Position 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 boosted its position in shares of Canadian Natural Resources Limited (NYSE:CNQ - Free Report) TSE: CNQ by 11.2% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 85,869 shares of the oil and gas producer's stock after acquiring an additional 8,616 shares during the quarter. Canadian Natural Resources accounts for approximately 1.4% of Peak Financial Advisors LLC's investment portfolio, making the stock its 17th biggest position. Peak Financial Advisors LLC's holdings in Canadian Natural Resources were worth $2,696,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Thurston Springer Miller Herd & Titak Inc. raised its position in Canadian Natural Resources by 8.7% in the 2nd quarter. Thurston Springer Miller Herd & Titak Inc. now owns 5,613 shares of the oil and gas producer's stock valued at $176,000 after purchasing an additional 448 shares in the last quarter. Intrua Financial LLC acquired a new stake in Canadian Natural Resources in the 1st quarter valued at about $230,000. Turn8 Private Wealth Inc. raised its position in Canadian Natural Resources by 9.7% in the 1st quarter. Turn8 Private Wealth Inc. now owns 91,412 shares of the oil and gas producer's stock valued at $2,814,000 after purchasing an additional 8,074 shares in the last quarter. Acadian Asset Management LLC raised its position in Canadian Natural Resources by 294.3% in the 1st quarter. Acadian Asset Management LLC now owns 411,166 shares of the oil and gas producer's stock valued at $12,647,000 after purchasing an additional 306,900 shares in the last quarter. Finally, Geneos Wealth Management Inc. raised its position in Canadian Natural Resources by 47.3% in the 1st quarter. Geneos Wealth Management Inc. now owns 1,644 shares of the oil and gas producer's stock valued at $51,000 after purchasing an additional 528 shares in the last quarter. 74.03% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on CNQ. Scotiabank reissued an "outperform" rating on shares of Canadian Natural Resources in a research report on Friday, July 11th. Raymond James Financial reissued 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. Zacks Research raised Canadian Natural Resources from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, August 26th. Finally, Royal Bank Of Canada lowered their target price on Canadian Natural Resources from $64.00 to $62.00 and set an "outperform" rating on the stock in a research note on Friday, August 8th. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, Canadian Natural Resources presently has an average rating of "Moderate Buy" and a consensus target price of $62.00.

Canadian Natural Resources Stock Performance

NYSE CNQ opened at $31.21 on Friday. Canadian Natural Resources Limited has a fifty-two week low of $24.65 and a fifty-two week high of $37.91. The stock has a market cap of $65.14 billion, a price-to-earnings ratio of 11.07 and a beta of 1.03. The business has a fifty day moving average of $31.03 and a 200-day moving average of $30.42. The company has a quick ratio of 0.54, a current ratio of 0.85 and a debt-to-equity ratio of 0.38.

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

Canadian Natural Resources Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, October 3rd. Stockholders of record on Friday, September 19th will be issued a $0.4269 dividend. This represents a $1.71 dividend on an annualized basis and a dividend yield of 5.5%. This is a positive change from Canadian Natural Resources's previous quarterly dividend of $0.42. The ex-dividend date of this dividend is Friday, September 19th. Canadian Natural Resources's payout ratio is presently 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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