Capital Wealth Planning LLC Buys 63,756 Shares of Canadian Natural Resources Limited (NYSE:CNQ)

Capital Wealth Planning LLC increased its stake in shares of Canadian Natural Resources Limited (NYSE:CNQ) (TSE:CNQ) by 228.5% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 91,652 shares of the oil and gas producer’s stock after buying an additional 63,756 shares during the quarter. Capital Wealth Planning LLC’s holdings in Canadian Natural Resources were worth $3,263,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. JBF Capital Inc. grew its stake in Canadian Natural Resources by 101.1% in the 2nd quarter. JBF Capital Inc. now owns 512,198 shares of the oil and gas producer’s stock valued at $18,234,000 after purchasing an additional 257,549 shares during the period. Choreo LLC bought a new position in Canadian Natural Resources in the 2nd quarter valued at $746,000. Pacific Heights Asset Management LLC grew its stake in Canadian Natural Resources by 100.0% in the 2nd quarter. Pacific Heights Asset Management LLC now owns 320,000 shares of the oil and gas producer’s stock valued at $11,392,000 after purchasing an additional 160,000 shares during the period. Commonwealth Equity Services LLC grew its stake in Canadian Natural Resources by 100.2% in the 2nd quarter. Commonwealth Equity Services LLC now owns 168,270 shares of the oil and gas producer’s stock valued at $5,990,000 after purchasing an additional 84,232 shares during the period. Finally, Royal London Asset Management Ltd. grew its stake in Canadian Natural Resources by 63.4% in the 2nd quarter. Royal London Asset Management Ltd. now owns 748,801 shares of the oil and gas producer’s stock valued at $26,657,000 after purchasing an additional 290,609 shares during the period. Institutional investors own 74.03% of the company’s stock.

Canadian Natural Resources Stock Performance

NYSE:CNQ opened at $31.97 on Monday. The business’s 50-day moving average price is $35.07 and its two-hundred day moving average price is $36.50. Canadian Natural Resources Limited has a twelve month low of $29.45 and a twelve month high of $41.29. The stock has a market cap of $68.03 billion, a P/E ratio of 12.74 and a beta of 1.51. The company has a quick ratio of 0.59, a current ratio of 0.88 and a debt-to-equity ratio of 0.24.

Canadian Natural Resources (NYSE:CNQ) (TSE:CNQ) last released its quarterly earnings results on Thursday, August 1st. The oil and gas producer reported $0.88 earnings per share for the quarter, beating the consensus estimate of $0.62 by $0.26. Canadian Natural Resources had a return on equity of 22.09% and a net margin of 18.05%. The firm had revenue of $7.76 billion for the quarter, compared to analysts’ expectations of $6.19 billion. During the same quarter last year, the firm posted $0.43 EPS. As a group, equities analysts predict that Canadian Natural Resources Limited will post 2.49 EPS for the current fiscal year.

Canadian Natural Resources Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 4th. Stockholders of record on Friday, September 13th will be given a dividend of $0.384 per share. The ex-dividend date is Friday, September 13th. This represents a $1.54 annualized dividend and a dividend yield of 4.80%. Canadian Natural Resources’s dividend payout ratio (DPR) is presently 61.75%.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the company. StockNews.com cut Canadian Natural Resources from a “buy” rating to a “hold” rating in a research report on Friday, August 23rd. Raymond James raised Canadian Natural Resources to a “hold” rating in a report on Tuesday, May 28th. Scotiabank reissued a “sector perform” rating on shares of Canadian Natural Resources in a report on Tuesday, June 11th. Finally, Wolfe Research initiated coverage on Canadian Natural Resources in a report on Thursday, July 18th. They set a “peer perform” rating on the stock. Six equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $49.50.

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).