Wealthstar Advisors LLC Invests $589,000 in Canadian Natural Resources Limited $CNQ

Key Points

• Wealthstar Advisors LLC has invested approximately $589,000 in Canadian Natural Resources Limited by acquiring 18,770 shares in the second quarter.
• The company announced a quarterly dividend of $0.4269 per share, increasing its annualized dividend yield to 5.2%.
• Canadian Natural Resources recently reported $0.51 earnings per share for the last quarter, surpassing analyst estimates of $0.44.

Wealthstar Advisors LLC acquired a new position in shares of Canadian Natural Resources Limited (NYSE:CNQ - Free Report) TSE: CNQ during the second quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 18,770 shares of the oil and gas producer's stock, valued at approximately $589,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in CNQ. GAMMA Investing LLC grew its stake in shares of Canadian Natural Resources by 2,969.4% during 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. Merit Financial Group LLC grew its stake in shares of Canadian Natural Resources by 21.4% during the 1st quarter. Merit Financial Group LLC now owns 11,197 shares of the oil and gas producer's stock worth $345,000 after purchasing an additional 1,975 shares during the period. Simon Quick Advisors LLC grew its stake in shares of Canadian Natural Resources by 48.6% during the 1st quarter. Simon Quick Advisors LLC now owns 9,784 shares of the oil and gas producer's stock worth $301,000 after purchasing an additional 3,199 shares during the period. Verity & Verity LLC grew its stake in Canadian Natural Resources by 63.2% in the 1st quarter. Verity & Verity LLC now owns 485,471 shares of the oil and gas producer's stock valued at $14,953,000 after acquiring an additional 187,984 shares during the period. Finally, Azzad Asset Management Inc. ADV acquired a new stake in Canadian Natural Resources in the 1st quarter valued at $4,747,000. Institutional investors and hedge funds own 74.03% of the company's stock.

Canadian Natural Resources Trading Up 0.3%

Shares of CNQ stock opened at $32.72 on Friday. The stock's fifty day moving average is $31.32 and its two-hundred day moving average is $30.86. 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 firm has a market capitalization of $68.29 billion, a P/E ratio of 11.60 and a beta of 0.97. Canadian Natural Resources Limited has a fifty-two week low of $24.65 and a fifty-two week high of $37.91.

Canadian Natural Resources (NYSE:CNQ - Get Free Report) TSE: CNQ last announced its quarterly earnings data on Thursday, August 7th. The oil and gas producer reported $0.51 earnings per share for the quarter, beating analysts' consensus estimates 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 last year, the firm posted $0.88 EPS. Research analysts expect that Canadian Natural Resources Limited will post 2.45 earnings per share for the current fiscal year.

Canadian Natural Resources Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 3rd. Shareholders of record on Friday, September 19th were issued a $0.4269 dividend. This represents a $1.71 dividend on an annualized basis and a yield of 5.2%. The ex-dividend date was Friday, September 19th. This is an increase from Canadian Natural Resources's previous quarterly dividend of $0.42. Canadian Natural Resources's payout ratio is 60.64%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the stock. Scotiabank reissued an "outperform" rating on shares of Canadian Natural Resources in a research note on Thursday. Raymond James Financial reissued an "outperform" rating on shares of Canadian Natural Resources in a research note on Friday, August 8th. TD Securities reissued a "buy" rating on shares of Canadian Natural Resources in a research note on Tuesday, September 30th. Royal Bank Of Canada reissued an "outperform" rating and issued a $62.00 price target on shares of Canadian Natural Resources in a research note on Wednesday, September 24th. Finally, Zacks Research raised shares of Canadian Natural Resources from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, August 26th. One research 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 stock. According to MarketBeat, Canadian Natural Resources presently has a consensus rating of "Moderate Buy" and a consensus price target of $62.00.

Canadian Natural Resources 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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