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Exchange Traded Concepts LLC Buys 11,323 Shares of Canadian Natural Resources Limited (NYSE:CNQ)

Defense World ·  10/03 17:21

Exchange Traded Concepts LLC grew its stake in shares of Canadian Natural Resources Limited (NYSE:CNQ – Get Rating) (TSE:CNQ) by 1,979.5% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 11,895 shares of the oil and gas producer's stock after buying an additional 11,323 shares during the period. Exchange Traded Concepts LLC's holdings in Canadian Natural Resources were worth $639,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Commonwealth Equity Services LLC raised its position in shares of Canadian Natural Resources by 6.6% during the second quarter. Commonwealth Equity Services LLC now owns 15,705 shares of the oil and gas producer's stock valued at $843,000 after buying an additional 978 shares during the last quarter. Hennion & Walsh Asset Management Inc. bought a new stake in shares of Canadian Natural Resources during the second quarter valued at approximately $285,000. Gulf International Bank UK Ltd increased its position in Canadian Natural Resources by 5.5% in the second quarter. Gulf International Bank UK Ltd now owns 16,976 shares of the oil and gas producer's stock worth $802,000 after purchasing an additional 890 shares during the last quarter. Value Partners Investments Inc. increased its position in Canadian Natural Resources by 45.9% in the second quarter. Value Partners Investments Inc. now owns 8,733 shares of the oil and gas producer's stock worth $468,000 after purchasing an additional 2,746 shares during the last quarter. Finally, Dividend Assets Capital LLC increased its position in Canadian Natural Resources by 11.7% in the second quarter. Dividend Assets Capital LLC now owns 43,750 shares of the oil and gas producer's stock worth $2,348,000 after purchasing an additional 4,572 shares during the last quarter. Institutional investors own 72.42% of the company's stock.

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Analyst Upgrades and Downgrades

CNQ has been the topic of several research reports. StockNews.com cut shares of Canadian Natural Resources from a "buy" rating to a "hold" rating in a research report on Tuesday, September 13th. Bank of America upgraded shares of Canadian Natural Resources from a "neutral" rating to a "buy" rating and set a $100.00 price target on the stock in a research report on Tuesday, July 19th. Scotiabank cut shares of Canadian Natural Resources from a "sector outperform" rating to a "sector perform" rating in a research report on Wednesday, June 8th. National Bank Financial reduced their price target on shares of Canadian Natural Resources from C$100.00 to C$88.00 in a research report on Friday. Finally, Stifel Nicolaus boosted their price target on shares of Canadian Natural Resources from C$111.00 to C$115.00 in a research report on Thursday, June 30th. Seven research analysts have rated the stock with a hold rating and four have issued a buy rating to the company's stock. Based on data from MarketBeat, Canadian Natural Resources currently has a consensus rating of "Hold" and an average price target of $85.93.

Canadian Natural Resources Stock Down 0.3 %

NYSE CNQ opened at $46.57 on Monday. The firm has a market capitalization of $51.90 billion, a price-to-earnings ratio of 6.11, a PEG ratio of 0.56 and a beta of 1.48. Canadian Natural Resources Limited has a 52 week low of $36.37 and a 52 week high of $70.60. The company has a quick ratio of 0.65, a current ratio of 0.85 and a debt-to-equity ratio of 0.29. The company has a fifty day moving average of $53.28 and a two-hundred day moving average of $57.59.

Canadian Natural Resources (NYSE:CNQ – Get Rating) (TSE:CNQ) last issued its earnings results on Thursday, August 4th. The oil and gas producer reported $2.55 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.08 by $0.47. The firm had revenue of $8.99 billion during the quarter, compared to analyst estimates of $7.84 billion. Canadian Natural Resources had a net margin of 25.39% and a return on equity of 31.63%. On average, analysts predict that Canadian Natural Resources Limited will post 8.92 earnings per share for the current year.

Canadian Natural Resources Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 5th. Stockholders of record on Friday, September 16th will be paid a dividend of $0.5822 per share. This represents a $2.33 dividend on an annualized basis and a dividend yield of 5.00%. The ex-dividend date is Thursday, September 15th. Canadian Natural Resources's dividend payout ratio is currently 30.05%.

Canadian Natural Resources Company Profile

(Get Rating)

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.

Further Reading

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