Virtus ETF Advisers LLC Buys Shares of 91,191 Canadian Natural Resources Ltd (NYSE:CNQ)

Virtus ETF Advisers LLC bought a new stake in shares of Canadian Natural Resources Ltd (NYSE:CNQ) (TSE:CNQ) during the 2nd quarter, HoldingsChannel reports. The firm bought 91,191 shares of the oil and gas producer’s stock, valued at approximately $2,459,000.

Other large investors have also added to or reduced their stakes in the company. Icon Wealth Partners LLC purchased a new position in Canadian Natural Resources during the 1st quarter valued at about $28,000. Zions Bancorporation N.A. acquired a new stake in shares of Canadian Natural Resources during the 1st quarter valued at about $28,000. Bremer Bank National Association acquired a new stake in shares of Canadian Natural Resources during the 1st quarter valued at about $34,000. Huntington National Bank lifted its holdings in shares of Canadian Natural Resources by 348.8% during the 2nd quarter. Huntington National Bank now owns 1,333 shares of the oil and gas producer’s stock valued at $36,000 after buying an additional 1,036 shares during the last quarter. Finally, Cornerstone Advisors Inc. lifted its holdings in shares of Canadian Natural Resources by 245.3% during the 1st quarter. Cornerstone Advisors Inc. now owns 1,806 shares of the oil and gas producer’s stock valued at $50,000 after buying an additional 1,283 shares during the last quarter. 65.10% of the stock is currently owned by institutional investors.

CNQ traded down $0.05 on Friday, hitting $25.30. The company had a trading volume of 147,313 shares, compared to its average volume of 2,587,146. The company’s fifty day moving average price is $23.97 and its 200 day moving average price is $26.83. Canadian Natural Resources Ltd has a 1-year low of $21.85 and a 1-year high of $33.86. The company has a debt-to-equity ratio of 0.57, a current ratio of 0.59 and a quick ratio of 0.44. The stock has a market cap of $30.14 billion, a price-to-earnings ratio of 11.78, a price-to-earnings-growth ratio of 1.51 and a beta of 1.16.

Canadian Natural Resources (NYSE:CNQ) (TSE:CNQ) last posted its earnings results on Thursday, August 1st. The oil and gas producer reported $0.87 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.62 by $0.25. Canadian Natural Resources had a return on equity of 8.62% and a net margin of 22.22%. The firm had revenue of $4.16 billion during the quarter, compared to analyst estimates of $4.36 billion. During the same period in the previous year, the company earned $1.04 EPS. On average, sell-side analysts forecast that Canadian Natural Resources Ltd will post 2.38 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Friday, September 13th will be issued a $0.284 dividend. This is a positive change from Canadian Natural Resources’s previous quarterly dividend of $0.28. This represents a $1.14 annualized dividend and a yield of 4.49%. The ex-dividend date is Thursday, September 12th. Canadian Natural Resources’s payout ratio is 51.63%.

Several equities research analysts have recently issued reports on the company. Zacks Investment Research lowered Canadian Natural Resources from a “buy” rating to a “hold” rating and set a $28.00 price target for the company. in a report on Monday, July 22nd. CIBC reiterated a “buy” rating and set a $48.00 price target on shares of Canadian Natural Resources in a report on Sunday, August 4th. Wells Fargo & Co lowered Canadian Natural Resources from a “market perform” rating to an “underperform” rating in a report on Friday, September 6th. Credit Suisse Group set a $48.00 price target on Canadian Natural Resources and gave the company a “buy” rating in a report on Tuesday. Finally, Canaccord Genuity reiterated a “buy” rating and set a $53.00 price target on shares of Canadian Natural Resources in a report on Tuesday, July 9th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and thirteen have issued a buy rating to the company. Canadian Natural Resources presently has a consensus rating of “Buy” and a consensus price target of $41.88.

About Canadian Natural Resources

Canadian Natural Resources Limited explores for, develops, produces, and markets 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. Its midstream assets include two crude oil pipeline systems; and a 50% working interest in an 84-megawatt cogeneration plant at Primrose.

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

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