Peak Financial Advisors LLC Buys 630 Shares of Canadian Natural Resources Limited (NYSE:CNQ)

Peak Financial Advisors LLC grew its position in Canadian Natural Resources Limited (NYSE:CNQ) (TSE:CNQ) by 0.8% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 77,702 shares of the oil and gas producer’s stock after buying an additional 630 shares during the period. Peak Financial Advisors LLC’s holdings in Canadian Natural Resources were worth $2,580,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. TD Asset Management Inc raised its holdings in Canadian Natural Resources by 96.2% in the second quarter. TD Asset Management Inc now owns 42,518,833 shares of the oil and gas producer’s stock worth $1,514,190,000 after purchasing an additional 20,843,193 shares during the period. Canada Pension Plan Investment Board raised its holdings in shares of Canadian Natural Resources by 93.0% in the second quarter. Canada Pension Plan Investment Board now owns 41,464,502 shares of the oil and gas producer’s stock valued at $1,476,644,000 after purchasing an additional 19,980,902 shares during the last quarter. 1832 Asset Management L.P. lifted its position in Canadian Natural Resources by 105.3% during the 2nd quarter. 1832 Asset Management L.P. now owns 31,668,045 shares of the oil and gas producer’s stock worth $1,127,382,000 after buying an additional 16,245,046 shares in the last quarter. Yacktman Asset Management LP boosted its position in Canadian Natural Resources by 95.9% during the second quarter. Yacktman Asset Management LP now owns 29,456,746 shares of the oil and gas producer’s stock valued at $1,048,660,000 after purchasing an additional 14,418,835 shares during the last quarter. Finally, Mackenzie Financial Corp grew its stake in shares of Canadian Natural Resources by 90.3% in the second quarter. Mackenzie Financial Corp now owns 30,017,414 shares of the oil and gas producer’s stock valued at $1,069,338,000 after buying an additional 14,246,978 shares in the last quarter. 74.03% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities analysts have recently commented on the company. Wolfe Research assumed coverage on Canadian Natural Resources in a research report on Thursday, July 18th. They issued a “peer perform” rating on the stock. Desjardins raised shares of Canadian Natural Resources from a “hold” rating to a “moderate buy” rating in a research note on Tuesday. Finally, StockNews.com cut Canadian Natural Resources from a “buy” rating to a “hold” rating in a report on Friday, August 23rd. Five analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $49.50.

Canadian Natural Resources Stock Performance

Shares of CNQ stock opened at $37.59 on Friday. The company has a current ratio of 0.88, a quick ratio of 0.59 and a debt-to-equity ratio of 0.24. The firm has a fifty day simple moving average of $34.80 and a two-hundred day simple moving average of $36.25. The firm has a market capitalization of $79.99 billion, a PE ratio of 14.98 and a beta of 1.50. Canadian Natural Resources Limited has a 12 month low of $29.45 and a 12 month high of $41.29.

Canadian Natural Resources (NYSE:CNQ) (TSE:CNQ) last posted its quarterly earnings data on Thursday, August 1st. The oil and gas producer reported $0.88 EPS for the quarter, beating the consensus estimate of $0.62 by $0.26. Canadian Natural Resources had a net margin of 18.05% and a return on equity of 22.09%. The firm had revenue of $7.76 billion during the quarter, compared to analyst estimates of $6.19 billion. During the same quarter last year, the business posted $0.43 EPS. Analysts forecast that Canadian Natural Resources Limited will post 2.5 EPS for the current fiscal year.

Canadian Natural Resources Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, January 3rd. Investors of record on Friday, December 13th will be issued a $0.388 dividend. This represents a $1.55 dividend on an annualized basis and a dividend yield of 4.13%. The ex-dividend date of this dividend is Friday, December 13th. This is a boost from Canadian Natural Resources’s previous quarterly dividend of $0.38. Canadian Natural Resources’s payout ratio is 66.14%.

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).