Canadian Natural Resources Limited $CNQ Shares Acquired by Pacific Heights Asset Management LLC

Pacific Heights Asset Management LLC raised its holdings in shares of Canadian Natural Resources Limited (NYSE:CNQ) (TSE:CNQ) by 11.1% in the 2nd quarter, HoldingsChannel.com reports. The fund owned 500,000 shares of the oil and gas producer’s stock after buying an additional 50,000 shares during the quarter. Pacific Heights Asset Management LLC’s holdings in Canadian Natural Resources were worth $15,700,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of the business. D.A. Davidson & CO. lifted its stake in Canadian Natural Resources by 3.8% during the 2nd quarter. D.A. Davidson & CO. now owns 16,365 shares of the oil and gas producer’s stock valued at $514,000 after acquiring an additional 606 shares during the period. Whittier Trust Co. lifted its stake in Canadian Natural Resources by 10.4% during the 2nd quarter. Whittier Trust Co. now owns 52,446 shares of the oil and gas producer’s stock valued at $1,646,000 after acquiring an additional 4,926 shares during the period. DekaBank Deutsche Girozentrale lifted its stake in shares of Canadian Natural Resources by 1.9% in the 2nd quarter. DekaBank Deutsche Girozentrale now owns 1,427,745 shares of the oil and gas producer’s stock valued at $45,252,000 after purchasing an additional 27,129 shares during the period. Journey Advisory Group LLC acquired a new position in shares of Canadian Natural Resources in the 2nd quarter valued at $2,458,000. Finally, Lorne Steinberg Wealth Management Inc. lifted its stake in shares of Canadian Natural Resources by 2.0% in the 2nd quarter. Lorne Steinberg Wealth Management Inc. now owns 87,210 shares of the oil and gas producer’s stock valued at $2,743,000 after purchasing an additional 1,675 shares during the period. 74.03% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms recently issued reports on CNQ. Zacks Research upgraded shares of Canadian Natural Resources from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, August 26th. TD Securities reiterated a “buy” rating on shares of Canadian Natural Resources in a research note on Tuesday, September 30th. Raymond James Financial reiterated an “outperform” rating on shares of Canadian Natural Resources in a research note on Friday, August 8th. Scotiabank reiterated an “outperform” rating on shares of Canadian Natural Resources in a research note on Thursday, October 9th. Finally, National Bankshares reiterated a “sector perform” rating on shares of Canadian Natural Resources in a research note on Thursday, July 17th. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat.com, Canadian Natural Resources presently has an average rating of “Moderate Buy” and a consensus price target of $62.00.

Canadian Natural Resources Stock Performance

NYSE:CNQ opened at $29.91 on Wednesday. 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 company has a fifty day moving average of $31.32 and a two-hundred day moving average of $30.86. The stock has a market capitalization of $62.42 billion, a PE ratio of 10.61 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 $35.85.

Canadian Natural Resources (NYSE:CNQ) (TSE:CNQ) last posted its quarterly earnings data on Thursday, August 7th. The oil and gas producer reported $0.51 earnings per share for the quarter, topping analysts’ consensus estimates of $0.44 by $0.07. The company 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 prior year, the business posted $0.88 earnings per share. As a group, research analysts forecast that Canadian Natural Resources Limited will post 2.45 earnings per share for the current fiscal year.

Canadian Natural Resources Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 3rd. Shareholders of record on Friday, September 19th were given a dividend of $0.4269 per share. This is a boost from Canadian Natural Resources’s previous quarterly dividend of $0.42. This represents a $1.71 dividend on an annualized basis and a yield of 5.7%. The ex-dividend date was Friday, September 19th. Canadian Natural Resources’s dividend payout ratio (DPR) is currently 60.64%.

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).