Canadian Natural Resources Limited (NYSE:CNQ) Shares Bought by B. Riley Wealth Advisors Inc.

B. Riley Wealth Advisors Inc. grew its position in Canadian Natural Resources Limited (NYSE:CNQ) (TSE:CNQ) by 55.2% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 62,966 shares of the oil and gas producer’s stock after buying an additional 22,389 shares during the quarter. B. Riley Wealth Advisors Inc.’s holdings in Canadian Natural Resources were worth $2,266,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Lighthouse Investment Partners LLC purchased a new position in Canadian Natural Resources during the 2nd quarter valued at about $890,000. Capital Wealth Planning LLC increased its stake in shares of Canadian Natural Resources by 228.5% during the 2nd quarter. Capital Wealth Planning LLC now owns 91,652 shares of the oil and gas producer’s stock worth $3,263,000 after purchasing an additional 63,756 shares in the last quarter. JBF Capital Inc. raised its position in shares of Canadian Natural Resources by 101.1% during the 2nd quarter. JBF Capital Inc. now owns 512,198 shares of the oil and gas producer’s stock worth $18,234,000 after purchasing an additional 257,549 shares during the last quarter. Mackenzie Financial Corp raised its position in shares of Canadian Natural Resources by 90.3% during the 2nd quarter. Mackenzie Financial Corp now owns 30,017,414 shares of the oil and gas producer’s stock worth $1,069,338,000 after purchasing an additional 14,246,978 shares during the last quarter. Finally, Caxton Associates LP purchased a new stake in Canadian Natural Resources in the 2nd quarter valued at approximately $7,661,000. Institutional investors and hedge funds own 74.03% of the company’s stock.

Canadian Natural Resources Stock Performance

Canadian Natural Resources stock opened at $34.79 on Wednesday. The stock has a fifty day moving average price of $34.51 and a 200 day moving average price of $36.29. Canadian Natural Resources Limited has a 52 week low of $29.45 and a 52 week high of $41.29. The firm has a market capitalization of $74.02 billion, a P/E ratio of 13.86 and a beta of 1.51. The company has a current ratio of 0.88, a quick ratio of 0.59 and a debt-to-equity ratio of 0.24.

Canadian Natural Resources (NYSE:CNQ) (TSE:CNQ) last released its quarterly earnings data on Thursday, August 1st. The oil and gas producer reported $0.88 EPS for the quarter, topping analysts’ consensus estimates 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 business had revenue of $7.76 billion during the quarter, compared to the consensus estimate of $6.19 billion. During the same period in the prior year, the firm posted $0.43 EPS. Equities research analysts anticipate that Canadian Natural Resources Limited will post 2.47 earnings per share for the current year.

Canadian Natural Resources Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 4th. Investors of record on Friday, September 13th will be given a dividend of $0.384 per share. This represents a $1.54 dividend on an annualized basis and a yield of 4.42%. The ex-dividend date of this dividend is Friday, September 13th. Canadian Natural Resources’s dividend payout ratio (DPR) is presently 61.75%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the company. Scotiabank reissued a “sector perform” rating on shares of Canadian Natural Resources in a report on Tuesday, June 11th. Wolfe Research assumed coverage on shares of Canadian Natural Resources in a research note on Thursday, July 18th. They issued a “peer perform” rating for the company. Finally, StockNews.com cut shares of Canadian Natural Resources from a “buy” rating to a “hold” rating in a research note on Friday, August 23rd. Six research analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $49.50.

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).