J.W. Cole Advisors Inc. Invests $51,000 in Canadian Natural Resources Limited (NYSE:CNQ)

J.W. Cole Advisors Inc. purchased a new position in shares of Canadian Natural Resources Limited (NYSE:CNQGet Rating) (TSE:CNQ) in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 121,759 shares of the oil and gas producer’s stock, valued at approximately $51,000.

Several other large investors also recently modified their holdings of CNQ. CWM LLC increased its stake in shares of Canadian Natural Resources by 232.3% during the 1st quarter. CWM LLC now owns 658 shares of the oil and gas producer’s stock worth $41,000 after purchasing an additional 460 shares during the last quarter. JFS Wealth Advisors LLC boosted its holdings in Canadian Natural Resources by 330.3% in the 1st quarter. JFS Wealth Advisors LLC now owns 667 shares of the oil and gas producer’s stock worth $41,000 after buying an additional 512 shares during the period. Allworth Financial LP bought a new position in Canadian Natural Resources in the 1st quarter worth approximately $48,000. Power Corp of Canada bought a new position in Canadian Natural Resources in the 1st quarter worth approximately $61,000. Finally, Cullen Frost Bankers Inc. bought a new position in Canadian Natural Resources in the 1st quarter worth approximately $62,000. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Canadian Natural Resources Price Performance

Shares of NYSE CNQ opened at $50.77 on Friday. Canadian Natural Resources Limited has a 1 year low of $34.10 and a 1 year high of $70.60. The company has a debt-to-equity ratio of 0.29, a current ratio of 0.85 and a quick ratio of 0.65. The company’s 50-day moving average is $53.69 and its 200 day moving average is $58.17. The stock has a market capitalization of $57.05 billion, a P/E ratio of 6.66, a P/E/G ratio of 0.64 and a beta of 1.48.

Canadian Natural Resources (NYSE:CNQGet Rating) (TSE:CNQ) last announced its quarterly earnings results on Thursday, August 4th. The oil and gas producer reported $2.55 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.08 by $0.47. Canadian Natural Resources had a net margin of 25.39% and a return on equity of 31.63%. The company had revenue of $8.99 billion for the quarter, compared to analysts’ expectations of $7.84 billion. On average, sell-side analysts expect that Canadian Natural Resources Limited will post 9.15 earnings per share for the current year.

Canadian Natural Resources Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 5th. Investors of record on Friday, September 16th will be paid a dividend of $0.5822 per share. This represents a $2.33 annualized dividend and a yield of 4.59%. The ex-dividend date is Thursday, September 15th. Canadian Natural Resources’s payout ratio is currently 30.05%.

Wall Street Analyst Weigh In

Several research firms recently commented on CNQ. Credit Suisse Group reaffirmed a “neutral” rating on shares of Canadian Natural Resources in a report on Thursday, August 11th. Bank of America raised shares of Canadian Natural Resources from a “neutral” rating to a “buy” rating and set a $100.00 price target for the company in a report on Tuesday, July 19th. Stifel Nicolaus raised their price target on shares of Canadian Natural Resources from C$111.00 to C$115.00 in a report on Thursday, June 30th. Scotiabank downgraded shares of Canadian Natural Resources from a “sector outperform” rating to a “sector perform” rating in a report on Wednesday, June 8th. Finally, StockNews.com downgraded shares of Canadian Natural Resources from a “buy” rating to a “hold” rating in a report on Tuesday, September 13th. Seven equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $86.79.

About Canadian Natural Resources

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Canadian Natural Resources Limited acquires, explores for, develops, produces, markets, and sells crude oil, natural gas, and natural gas liquids (NGLs). The company offers synthetic crude oil (SCO), light and medium crude oil, bitumen (thermal oil), primary heavy crude oil, and Pelican Lake heavy crude oil.

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Institutional Ownership by Quarter for Canadian Natural Resources (NYSE:CNQ)

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