Morningstar Investment Services LLC Invests $218,000 in Canadian Natural Resources Limited (CNQ)

Morningstar Investment Services LLC purchased a new position in shares of Canadian Natural Resources Limited (NYSE:CNQ) (TSE:CNQ) during the second quarter, according to its most recent filing with the SEC. The fund purchased 7,573 shares of the oil and gas producer’s stock, valued at approximately $218,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Wrapmanager Inc. bought a new stake in Canadian Natural Resources Limited during the second quarter worth about $301,000. Dupont Capital Management Corp increased its stake in Canadian Natural Resources Limited by 26.4% in the second quarter. Dupont Capital Management Corp now owns 117,363 shares of the oil and gas producer’s stock worth $3,385,000 after buying an additional 24,480 shares in the last quarter. Nippon Life Global Investors Americas Inc. bought a new stake in Canadian Natural Resources Limited during the second quarter worth about $930,000. Dividend Assets Capital LLC increased its stake in Canadian Natural Resources Limited by 4.4% in the second quarter. Dividend Assets Capital LLC now owns 900,795 shares of the oil and gas producer’s stock worth $25,979,000 after buying an additional 37,795 shares in the last quarter. Finally, DekaBank Deutsche Girozentrale increased its stake in Canadian Natural Resources Limited by 1.4% in the second quarter. DekaBank Deutsche Girozentrale now owns 157,758 shares of the oil and gas producer’s stock worth $4,626,000 after buying an additional 2,218 shares in the last quarter. Hedge funds and other institutional investors own 60.27% of the company’s stock.

Shares of Canadian Natural Resources Limited (CNQ) opened at 30.82 on Wednesday. Canadian Natural Resources Limited has a 1-year low of $27.52 and a 1-year high of $35.28. The company has a market capitalization of $37.45 billion, a P/E ratio of 27.77 and a beta of 1.48. The firm has a 50-day moving average of $30.15 and a 200 day moving average of $30.65.

Canadian Natural Resources Limited declared that its Board of Directors has approved a share repurchase program on Wednesday, May 17th that allows the company to repurchase 27,930,000 shares. This repurchase authorization allows the oil and gas producer to repurchase shares of its stock through open market purchases. Shares repurchase programs are often a sign that the company’s leadership believes its stock is undervalued.

The firm also recently disclosed a quarterly dividend, which will be paid on Sunday, October 1st. Shareholders of record on Friday, September 15th will be paid a $0.2212 dividend. This is a boost from Canadian Natural Resources Limited’s previous quarterly dividend of $0.20. This represents a $0.88 dividend on an annualized basis and a dividend yield of 2.87%. The ex-dividend date of this dividend is Thursday, September 14th. Canadian Natural Resources Limited’s dividend payout ratio (DPR) is presently 78.43%.

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A number of analysts have recently issued reports on the stock. Goldman Sachs Group, Inc. (The) reaffirmed a “buy” rating and set a $36.00 price objective on shares of Canadian Natural Resources Limited in a report on Thursday, June 22nd. Citigroup Inc. downgraded shares of Canadian Natural Resources Limited from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $40.00 to $33.00 in a report on Friday, July 21st. They noted that the move was a valuation call. Morgan Stanley raised shares of Canadian Natural Resources Limited from an “equal weight” rating to an “overweight” rating and set a $46.00 price objective for the company in a report on Wednesday, July 19th. ValuEngine raised shares of Canadian Natural Resources Limited from a “sell” rating to a “hold” rating in a report on Wednesday, July 12th. Finally, Zacks Investment Research downgraded shares of Canadian Natural Resources Limited from a “strong-buy” rating to a “hold” rating in a report on Wednesday, July 19th. Two analysts have rated the stock with a sell rating, three have given a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company. The company currently has an average rating of “Buy” and an average price target of $45.50.

Canadian Natural Resources Limited Company Profile

Canadian Natural Resources Limited is an independent crude oil and natural gas exploration, development and production company. The Company’s segments include Exploration and Production, Oil Sands Mining and Upgrading, and Midstream. The Exploration and Production segment includes exploration, development, production and marketing of crude oil, natural gas liquids (NGLs) and natural gas.

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

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