Vestmark Advisory Solutions Inc. Invests $1.05 Million in Canadian Natural Resources Limited $CNQ

Vestmark Advisory Solutions Inc. acquired a new stake in shares of Canadian Natural Resources Limited (NYSE:CNQ) (TSE:CNQ) during the second quarter, HoldingsChannel.com reports. The fund acquired 33,340 shares of the oil and gas producer’s stock, valued at approximately $1,047,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Ameritas Advisory Services LLC bought a new stake in Canadian Natural Resources during the second quarter worth approximately $27,000. Investment Management Corp VA ADV raised its position in shares of Canadian Natural Resources by 158.3% in the first quarter. Investment Management Corp VA ADV now owns 997 shares of the oil and gas producer’s stock valued at $31,000 after purchasing an additional 611 shares during the period. Geneos Wealth Management Inc. lifted its stake in shares of Canadian Natural Resources by 47.3% in the first quarter. Geneos Wealth Management Inc. now owns 1,644 shares of the oil and gas producer’s stock worth $51,000 after buying an additional 528 shares during the last quarter. Adirondack Trust Co. lifted its stake in shares of Canadian Natural Resources by 317.1% in the second quarter. Adirondack Trust Co. now owns 1,710 shares of the oil and gas producer’s stock worth $54,000 after buying an additional 1,300 shares during the last quarter. Finally, Bruce G. Allen Investments LLC boosted its holdings in shares of Canadian Natural Resources by 116.7% during the 2nd quarter. Bruce G. Allen Investments LLC now owns 1,788 shares of the oil and gas producer’s stock worth $56,000 after buying an additional 963 shares during the period. 74.03% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts recently commented on CNQ shares. Raymond James Financial reiterated an “outperform” rating on shares of Canadian Natural Resources in a report on Friday, August 8th. Scotiabank restated an “outperform” rating on shares of Canadian Natural Resources in a report on Thursday, October 9th. National Bankshares reaffirmed a “sector perform” rating on shares of Canadian Natural Resources in a research report on Thursday, July 17th. Weiss Ratings reiterated a “hold (c)” rating on shares of Canadian Natural Resources in a research note on Wednesday, October 8th. Finally, TD Securities restated a “buy” rating on shares of Canadian Natural Resources in a research note on Tuesday, September 30th. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $62.00.

Canadian Natural Resources Stock Performance

NYSE CNQ opened at $31.97 on Tuesday. The company’s fifty day moving average is $31.62 and its two-hundred day moving average is $31.29. Canadian Natural Resources Limited has a 52-week low of $24.65 and a 52-week high of $34.97. The company has a debt-to-equity ratio of 0.38, a current ratio of 0.85 and a quick ratio of 0.54. The firm has a market capitalization of $66.67 billion, a price-to-earnings ratio of 11.34 and a beta of 0.96.

Canadian Natural Resources (NYSE:CNQ) (TSE:CNQ) last announced its quarterly earnings data on Thursday, November 6th. The oil and gas producer reported $0.62 EPS for the quarter, beating analysts’ consensus estimates of $0.54 by $0.08. Canadian Natural Resources had a net margin of 19.00% and a return on equity of 19.67%. The business had revenue of $6.79 billion during the quarter, compared to analyst estimates of $6.81 billion. During the same quarter in the prior year, the business earned $0.97 earnings per share. Equities research analysts forecast 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 Tuesday, January 6th. Shareholders of record on Friday, December 12th will be issued a $0.5875 dividend. This is a positive change from Canadian Natural Resources’s previous quarterly dividend of $0.43. The ex-dividend date of this dividend is Friday, December 12th. This represents a $2.35 annualized dividend and a yield of 7.4%. Canadian Natural Resources’s payout ratio is currently 73.89%.

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).