Stokes Capital Advisors LLC Boosts Position in Canadian Natural Resources Limited $CNQ

Key Points

• Stokes Capital Advisors LLC increased its holdings in Canadian Natural Resources Limited by 8.2% in Q2, now owning 222,610 shares valued at approximately $6.99 million.
• Canadian Natural Resources recently raised its quarterly dividend to $0.4269 per share, yielding about 5.2%, up from the previous $0.42.
• Analysts have generally rated Canadian Natural Resources as a "Moderate Buy" with a consensus target price of $62.00, reflecting confidence in its performance amidst a competitive market.

Stokes Capital Advisors LLC grew its holdings in shares of Canadian Natural Resources Limited (NYSE:CNQ - Free Report) TSE: CNQ by 8.2% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 222,610 shares of the oil and gas producer's stock after acquiring an additional 16,796 shares during the quarter. Canadian Natural Resources comprises 1.7% of Stokes Capital Advisors LLC's investment portfolio, making the stock its 26th largest position. Stokes Capital Advisors LLC's holdings in Canadian Natural Resources were worth $6,990,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Investment Management Corp VA ADV increased its stake in Canadian Natural Resources by 158.3% in the 1st 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 period. Versant Capital Management Inc increased its stake in shares of Canadian Natural Resources by 253.2% during the first quarter. Versant Capital Management Inc now owns 1,307 shares of the oil and gas producer's stock valued at $40,000 after buying an additional 937 shares during the period. Sierra Ocean LLC increased its stake 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 valued at $48,000 after buying an additional 800 shares during the period. Geneos Wealth Management Inc. increased its stake 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 valued at $51,000 after buying an additional 528 shares during the period. Finally, Opal Wealth Advisors LLC purchased a new position in shares of Canadian Natural Resources during the first quarter valued at approximately $56,000. Institutional investors own 74.03% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on CNQ. Zacks Research raised Canadian Natural Resources from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, August 26th. Raymond James Financial reaffirmed an "outperform" rating on shares of Canadian Natural Resources in a research note on Friday, August 8th. National Bankshares reaffirmed a "sector perform" rating on shares of Canadian Natural Resources in a research note on Thursday, July 17th. Royal Bank Of Canada reduced their price target 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. Finally, Scotiabank reaffirmed an "outperform" rating on shares of Canadian Natural Resources in a research note on Friday, July 11th. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and two have assigned a Hold rating to the company's stock. According to data from MarketBeat, Canadian Natural Resources has an average rating of "Moderate Buy" and a consensus target price of $62.00.

Canadian Natural Resources Stock Performance

Shares of CNQ opened at $32.93 on Wednesday. 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 has a 50-day simple moving average of $31.05 and a two-hundred day simple moving average of $30.48. The stock has a market cap of $68.73 billion, a price-to-earnings ratio of 11.68 and a beta of 1.03. Canadian Natural Resources Limited has a 52 week low of $24.65 and a 52 week high of $37.91.

Canadian Natural Resources (NYSE:CNQ - Get Free Report) TSE: CNQ last released its earnings results on Thursday, August 7th. The oil and gas producer reported $0.51 earnings per share (EPS) for the quarter, topping the consensus estimate 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 firm had revenue of $6.39 billion during the quarter, compared to analysts' expectations of $8.97 billion. During the same quarter last year, the business posted $0.88 earnings per share. On average, analysts expect that Canadian Natural Resources Limited will post 2.45 EPS 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. Investors of record on Friday, September 19th will be paid a dividend of $0.4269 per share. The ex-dividend date of this dividend is Friday, September 19th. This is a boost from Canadian Natural Resources's previous quarterly dividend of $0.42. This represents a $1.71 dividend on an annualized basis and a yield of 5.2%. 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).

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