TD Private Client Wealth LLC Invests $287,000 in Canadian Natural Resources Limited $CNQ

Key Points

• TD Private Client Wealth LLC invested approximately $287,000 in Canadian Natural Resources Limited, purchasing 9,129 shares in the 2nd quarter, highlighting institutional interest in the stock.
• Canadian Natural Resources recently increased its quarterly dividend to $0.4269 per share, reflecting a 5.2% yield and a payout ratio of 60.64%.
• The company reported earnings of $0.51 EPS for the last quarter, exceeding analysts' expectations, despite revenue falling short at $6.39 billion.

TD Private Client Wealth LLC bought a new position in Canadian Natural Resources Limited (NYSE:CNQ - Free Report) TSE: CNQ in the 2nd quarter, according to its most recent disclosure with the SEC. The firm bought 9,129 shares of the oil and gas producer's stock, valued at approximately $287,000.

Several other institutional investors and hedge funds have also recently modified their holdings of CNQ. Wealth Enhancement Advisory Services LLC lifted its position in shares of Canadian Natural Resources by 198.4% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 34,047 shares of the oil and gas producer's stock worth $1,051,000 after purchasing an additional 22,637 shares during the period. Versant Capital Management Inc lifted its position in shares of Canadian Natural Resources by 253.2% in the 1st quarter. Versant Capital Management Inc now owns 1,307 shares of the oil and gas producer's stock worth $40,000 after purchasing an additional 937 shares during the period. Moody National Bank Trust Division lifted its position in shares of Canadian Natural Resources by 60.5% in the 1st quarter. Moody National Bank Trust Division now owns 10,589 shares of the oil and gas producer's stock worth $326,000 after purchasing an additional 3,993 shares during the period. AdvisorNet Financial Inc lifted its position in shares of Canadian Natural Resources by 8.0% in the 1st quarter. AdvisorNet Financial Inc now owns 7,065 shares of the oil and gas producer's stock worth $218,000 after purchasing an additional 525 shares during the period. Finally, GAMMA Investing LLC lifted its position in shares of Canadian Natural Resources by 2,969.4% in the 1st quarter. GAMMA Investing LLC now owns 26,642 shares of the oil and gas producer's stock worth $865,000 after purchasing an additional 25,774 shares during the period. 74.03% of the stock is owned by hedge funds and other institutional investors.

Canadian Natural Resources Stock Up 0.8%

Shares of Canadian Natural Resources stock opened at $32.73 on Monday. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.54 and a current ratio of 0.85. The stock has a market capitalization of $68.31 billion, a PE ratio of 11.61 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. The company has a 50-day simple moving average of $31.20 and a two-hundred day simple moving average of $30.74.

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, topping the consensus estimate of $0.44 by $0.07. The business had revenue of $6.39 billion during the quarter, compared to analysts' expectations 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 period in the previous year, the company earned $0.88 earnings per share. On average, analysts anticipate that Canadian Natural Resources Limited will post 2.45 EPS for the current fiscal year.

Canadian Natural Resources Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 3rd. Stockholders of record on Friday, September 19th will be issued a dividend of $0.4269 per share. The ex-dividend date of this dividend is Friday, September 19th. This is a positive change from Canadian Natural Resources's previous quarterly dividend of $0.42. This represents a $1.71 annualized dividend and a dividend yield of 5.2%. Canadian Natural Resources's dividend payout ratio is presently 60.64%.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on CNQ shares. Scotiabank reaffirmed an "outperform" rating on shares of Canadian Natural Resources in a research report on Friday, July 11th. National Bankshares reissued a "sector perform" rating on shares of Canadian Natural Resources in a research report on Thursday, July 17th. Raymond James Financial reissued an "outperform" rating on shares of Canadian Natural Resources in a research report on Friday, August 8th. Zacks Research raised shares of 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 reissued an "outperform" rating and set a $62.00 price target on shares of Canadian Natural Resources in a research report on Wednesday, September 24th. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and two have assigned a Hold rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $62.00.

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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