Canadian Natural Resources Limited $CNQ Shares Sold by Canoe Financial LP

Canoe Financial LP decreased its stake in Canadian Natural Resources Limited (NYSE:CNQ) (TSE:CNQ) by 38.6% in the 1st quarter, Holdings Channel reports. The firm owned 3,433,507 shares of the oil and gas producer’s stock after selling 2,155,438 shares during the quarter. Canadian Natural Resources accounts for approximately 2.3% of Canoe Financial LP’s portfolio, making the stock its 14th biggest position. Canoe Financial LP’s holdings in Canadian Natural Resources were worth $167,432,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. Capital Research Global Investors grew its position in Canadian Natural Resources by 31.5% during the fourth quarter. Capital Research Global Investors now owns 146,331,336 shares of the oil and gas producer’s stock worth $4,956,204,000 after buying an additional 35,067,143 shares during the period. Vanguard Group Inc. lifted its position in shares of Canadian Natural Resources by 0.9% during the 4th quarter. Vanguard Group Inc. now owns 93,305,198 shares of the oil and gas producer’s stock valued at $3,160,340,000 after acquiring an additional 818,809 shares during the period. Fisher Asset Management LLC boosted its stake in shares of Canadian Natural Resources by 3.2% during the 4th quarter. Fisher Asset Management LLC now owns 42,745,981 shares of the oil and gas producer’s stock worth $1,446,951,000 after acquiring an additional 1,342,954 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of Canadian Natural Resources by 7.0% during the 4th quarter. Geode Capital Management LLC now owns 20,518,621 shares of the oil and gas producer’s stock worth $710,119,000 after acquiring an additional 1,347,844 shares in the last quarter. Finally, JPMorgan Chase & Co. grew its holdings in shares of Canadian Natural Resources by 1.9% in the 4th quarter. JPMorgan Chase & Co. now owns 14,308,539 shares of the oil and gas producer’s stock worth $484,344,000 after acquiring an additional 260,746 shares during the period. Hedge funds and other institutional investors own 74.03% of the company’s stock.

Analyst Ratings Changes

CNQ has been the subject of several research analyst reports. ATB Cormark Capital Markets downgraded Canadian Natural Resources from a “strong-buy” rating to a “moderate buy” rating in a research note on Thursday, March 5th. Weiss Ratings downgraded Canadian Natural Resources from a “buy (b)” rating to a “buy (b-)” rating in a research report on Monday, May 11th. Raymond James Financial raised Canadian Natural Resources from a “market perform” rating to an “outperform” rating in a report on Thursday, May 7th. Zacks Research cut Canadian Natural Resources from a “strong-buy” rating to a “hold” rating in a research report on Monday, June 8th. Finally, Royal Bank Of Canada raised their price target on Canadian Natural Resources from $61.00 to $65.00 and gave the company an “outperform” rating in a research report on Friday, March 6th. Seven research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $57.00.

Canadian Natural Resources Trading Up 0.1%

Shares of CNQ stock opened at $39.53 on Monday. The company has a market capitalization of $82.05 billion, a price-to-earnings ratio of 11.80 and a beta of 0.45. The company has a current ratio of 0.98, a quick ratio of 0.68 and a debt-to-equity ratio of 0.37. The firm has a 50-day moving average price of $45.33 and a 200 day moving average price of $41.95. Canadian Natural Resources Limited has a twelve month low of $29.30 and a twelve month high of $51.34.

Canadian Natural Resources (NYSE:CNQ) (TSE:CNQ) last released its quarterly earnings results on Thursday, May 7th. The oil and gas producer reported $0.85 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.74 by $0.11. The company had revenue of $7.72 billion for the quarter, compared to analysts’ expectations of $7.57 billion. Canadian Natural Resources had a net margin of 22.04% and a return on equity of 17.49%. During the same period last year, the company earned $1.16 EPS. Research analysts forecast that Canadian Natural Resources Limited will post 4.2 earnings per share for the current fiscal year.

Canadian Natural Resources Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 7th. Investors of record on Tuesday, June 23rd will be paid a dividend of $0.625 per share. The ex-dividend date of this dividend is Tuesday, June 23rd. This represents a $2.50 annualized dividend and a dividend yield of 6.3%. Canadian Natural Resources’s dividend payout ratio is presently 54.03%.

About Canadian Natural Resources

Canadian Natural Resources Limited (NYSE: CNQ) is a Calgary-based independent oil and natural gas exploration and production company. Established in the early 1970s and publicly listed in Canada and the United States, the company is principally engaged in the exploration, development, production, and marketing of crude oil, natural gas and natural gas liquids. Its asset base spans conventional and unconventional reservoirs and includes oil sands mining and in-situ thermal projects, midstream processing and upgrading capacity, and related field operations.

The company’s operations are concentrated in Western Canada, where it develops heavy crude, bitumen from oil sands and conventional light crude and natural gas resources.