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AE Wealth Management LLC Makes New $273,000 Investment in Canadian Natural Resources Limited (NYSE:CNQ)

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AE Wealth Management LLC acquired a new position in shares of Canadian Natural Resources Limited (NYSE:CNQGet Rating) (TSE:CNQ) during the 1st quarter, Holdings Channel reports. The fund acquired 4,404 shares of the oil and gas producer’s stock, valued at approximately $273,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of the business. Dividend Assets Capital LLC increased its stake in Canadian Natural Resources by 0.4% during the first quarter. Dividend Assets Capital LLC now owns 39,178 shares of the oil and gas producer’s stock worth $2,428,000 after acquiring an additional 161 shares during the last quarter. Checchi Capital Advisers LLC increased its stake in Canadian Natural Resources by 3.6% during the fourth quarter. Checchi Capital Advisers LLC now owns 6,661 shares of the oil and gas producer’s stock worth $281,000 after acquiring an additional 232 shares during the last quarter. Evergreen Capital Management LLC increased its stake in Canadian Natural Resources by 4.4% during the fourth quarter. Evergreen Capital Management LLC now owns 6,498 shares of the oil and gas producer’s stock worth $275,000 after acquiring an additional 273 shares during the last quarter. Pacifica Partners Inc. increased its stake in Canadian Natural Resources by 0.4% during the first quarter. Pacifica Partners Inc. now owns 81,257 shares of the oil and gas producer’s stock worth $4,630,000 after acquiring an additional 335 shares during the last quarter. Finally, Spire Wealth Management increased its stake in Canadian Natural Resources by 20.6% during the fourth quarter. Spire Wealth Management now owns 2,081 shares of the oil and gas producer’s stock worth $88,000 after acquiring an additional 356 shares during the last quarter. 68.45% of the stock is currently owned by institutional investors.

Shares of NYSE CNQ opened at $47.92 on Wednesday. The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.57 and a current ratio of 0.75. The firm has a market capitalization of $55.11 billion, a price-to-earnings ratio of 7.57, a PEG ratio of 0.31 and a beta of 1.57. The stock has a 50 day moving average price of $59.37 and a 200 day moving average price of $57.25. Canadian Natural Resources Limited has a 52-week low of $29.53 and a 52-week high of $70.60.

Canadian Natural Resources (NYSE:CNQGet Rating) (TSE:CNQ) last announced its quarterly earnings results on Thursday, May 5th. The oil and gas producer reported $2.26 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.94 by $0.32. The firm had revenue of $8.43 billion during the quarter, compared to analyst estimates of $7.12 billion. Canadian Natural Resources had a return on equity of 26.32% and a net margin of 24.71%. Analysts forecast that Canadian Natural Resources Limited will post 8.4 earnings per share for the current year.

The business also recently announced a quarterly dividend, which was paid on Tuesday, July 5th. Shareholders of record on Friday, June 17th were issued a dividend of $0.583 per share. The ex-dividend date of this dividend was Thursday, June 16th. This represents a $2.33 dividend on an annualized basis and a yield of 4.87%. Canadian Natural Resources’s dividend payout ratio is currently 37.44%.

CNQ has been the topic of several analyst reports. BMO Capital Markets boosted their price objective on Canadian Natural Resources from C$92.00 to C$95.00 in a research note on Friday, May 6th. Stifel Nicolaus upped their target price on Canadian Natural Resources from C$111.00 to C$115.00 in a research note on Thursday, June 30th. National Bank Financial upped their target price on Canadian Natural Resources from C$100.00 to C$115.00 in a research note on Thursday, June 16th. Scotiabank cut Canadian Natural Resources from a “sector outperform” rating to a “sector perform” rating in a research note on Wednesday, June 8th. Finally, Credit Suisse Group upped their target price on Canadian Natural Resources from C$85.00 to C$93.00 in a research note on Monday, May 9th. Six equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $80.63.

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.

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