99,610 Shares in Canadian Natural Resources Limited $CNQ Bought by Turn8 Private Wealth Inc.

Turn8 Private Wealth Inc. purchased a new stake in shares of Canadian Natural Resources Limited (NYSE:CNQ) (TSE:CNQ) during the first quarter, HoldingsChannel reports. The fund purchased 99,610 shares of the oil and gas producer’s stock, valued at approximately $4,844,000. Canadian Natural Resources accounts for approximately 3.0% of Turn8 Private Wealth Inc.’s portfolio, making the stock its 13th largest holding.

Several other institutional investors have also bought and sold shares of the business. AQR Capital Management LLC lifted its holdings in shares of Canadian Natural Resources by 85.5% in the 1st quarter. AQR Capital Management LLC now owns 18,090 shares of the oil and gas producer’s stock valued at $557,000 after acquiring an additional 8,336 shares during the last quarter. Jones Financial Companies Lllp increased its stake in Canadian Natural Resources by 92.7% during the first quarter. Jones Financial Companies Lllp now owns 29,096 shares of the oil and gas producer’s stock worth $896,000 after acquiring an additional 13,996 shares during the last quarter. Empowered Funds LLC increased its stake in Canadian Natural Resources by 4.3% during the first quarter. Empowered Funds LLC now owns 79,374 shares of the oil and gas producer’s stock worth $2,445,000 after acquiring an additional 3,266 shares during the last quarter. Geneos Wealth Management Inc. increased its stake in 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 worth $51,000 after acquiring an additional 528 shares during the last quarter. Finally, EverSource Wealth Advisors LLC raised its position in Canadian Natural Resources by 65.5% during the second quarter. EverSource Wealth Advisors LLC now owns 4,513 shares of the oil and gas producer’s stock valued at $142,000 after purchasing an additional 1,786 shares during the period. Institutional investors own 74.03% of the company’s stock.

Canadian Natural Resources Stock Down 0.0%

Shares of NYSE CNQ opened at $39.63 on Friday. Canadian Natural Resources Limited has a 1 year low of $29.30 and a 1 year high of $51.34. The firm has a 50-day simple moving average of $44.85 and a two-hundred day simple moving average of $42.10. The company has a market cap of $82.27 billion, a P/E ratio of 11.83 and a beta of 0.47. The company has a debt-to-equity ratio of 0.37, a current ratio of 0.98 and a quick ratio of 0.68.

Canadian Natural Resources (NYSE:CNQ) (TSE:CNQ) last released its earnings results on Thursday, May 7th. The oil and gas producer reported $0.85 EPS for the quarter, beating analysts’ consensus estimates of $0.74 by $0.11. Canadian Natural Resources had a return on equity of 17.49% and a net margin of 22.04%.The firm had revenue of $7.72 billion for the quarter, compared to analysts’ expectations of $7.57 billion. During the same quarter in the prior year, the firm posted $1.16 earnings per share. Research analysts anticipate that Canadian Natural Resources Limited will post 4.2 earnings per share for the current year.

Canadian Natural Resources Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 7th. Investors of record on Tuesday, June 23rd will be issued a dividend of $0.625 per share. The ex-dividend date is Tuesday, June 23rd. This represents a $2.50 dividend on an annualized basis and a yield of 6.3%. Canadian Natural Resources’s payout ratio is presently 54.03%.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the company. Zacks Research lowered Canadian Natural Resources from a “strong-buy” rating to a “hold” rating in a research note on Monday, June 8th. Raymond James Financial raised Canadian Natural Resources from a “market perform” rating to an “outperform” rating in a research report on Thursday, May 7th. The Goldman Sachs Group increased their price target on Canadian Natural Resources from $37.00 to $49.00 and gave the company a “buy” rating in a report on Thursday, March 12th. Weiss Ratings downgraded Canadian Natural Resources from a “buy (b)” rating to a “buy (b-)” rating in a research report on Monday, May 11th. Finally, Scotiabank raised shares of Canadian Natural Resources to a “hold” rating in a research note on Friday, June 26th. Six equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $57.00.

About Canadian Natural Resources

Canadian Natural Resources Limited (NYSE: CNQ) is a Calgary-based independent oil and natural gas exploration and production company. Established in the early 1970s and publicly listed in Canada and the United States, the company is principally engaged in the exploration, development, production, and marketing of crude oil, natural gas and natural gas liquids. Its asset base spans conventional and unconventional reservoirs and includes oil sands mining and in-situ thermal projects, midstream processing and upgrading capacity, and related field operations.

The company’s operations are concentrated in Western Canada, where it develops heavy crude, bitumen from oil sands and conventional light crude and natural gas resources.