Canadian Natural Resources Limited (NYSE:CNQ) Shares Sold by State of Wyoming

State of Wyoming cut its stake in Canadian Natural Resources Limited (NYSE:CNQ) (TSE:CNQ) by 57.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 17,543 shares of the oil and gas producer’s stock after selling 23,297 shares during the period. State of Wyoming’s holdings in Canadian Natural Resources were worth $541,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the stock. FMR LLC boosted its stake in Canadian Natural Resources by 8.7% during the 4th quarter. FMR LLC now owns 92,550,104 shares of the oil and gas producer’s stock valued at $2,857,337,000 after purchasing an additional 7,372,718 shares in the last quarter. Vanguard Group Inc. lifted its holdings in shares of Canadian Natural Resources by 0.5% in the fourth quarter. Vanguard Group Inc. now owns 90,002,235 shares of the oil and gas producer’s stock valued at $2,778,729,000 after buying an additional 456,814 shares during the period. Fisher Asset Management LLC boosted its stake in Canadian Natural Resources by 1.3% during the fourth quarter. Fisher Asset Management LLC now owns 44,131,266 shares of the oil and gas producer’s stock valued at $1,362,332,000 after buying an additional 550,242 shares in the last quarter. Canada Pension Plan Investment Board grew its holdings in Canadian Natural Resources by 5.3% during the fourth quarter. Canada Pension Plan Investment Board now owns 36,963,702 shares of the oil and gas producer’s stock worth $1,139,753,000 after acquiring an additional 1,844,700 shares during the period. Finally, T. Rowe Price Investment Management Inc. raised its position in Canadian Natural Resources by 7.3% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 34,052,775 shares of the oil and gas producer’s stock worth $1,051,210,000 after acquiring an additional 2,312,437 shares in the last quarter. Institutional investors and hedge funds own 74.03% of the company’s stock.

Canadian Natural Resources Stock Performance

Shares of CNQ opened at $30.55 on Tuesday. The company has a 50-day moving average of $29.33 and a two-hundred day moving average of $30.65. The stock has a market cap of $63.99 billion, a price-to-earnings ratio of 11.86 and a beta of 1.04. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.84 and a quick ratio of 0.53. Canadian Natural Resources Limited has a one year low of $24.65 and a one year high of $38.86.

Canadian Natural Resources (NYSE:CNQ) (TSE:CNQ) last posted its quarterly earnings data on Thursday, May 8th. The oil and gas producer reported $0.81 EPS for the quarter, topping analysts’ consensus estimates of $0.73 by $0.08. Canadian Natural Resources had a net margin of 18.45% and a return on equity of 20.07%. The firm had revenue of $6.96 billion during the quarter, compared to analyst estimates of $10.14 billion. During the same quarter last year, the business posted $1.37 EPS. On average, equities research analysts expect that Canadian Natural Resources Limited will post 2.45 earnings per share for the current year.

Canadian Natural Resources Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, July 3rd. Stockholders of record on Friday, June 13th will be given a $0.4227 dividend. This represents a $1.69 annualized dividend and a dividend yield of 5.53%. The ex-dividend date is Friday, June 13th. This is a boost from Canadian Natural Resources’s previous quarterly dividend of $0.41. Canadian Natural Resources’s dividend payout ratio (DPR) is 63.92%.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the stock. Raymond James raised shares of Canadian Natural Resources from a “market perform” rating to an “outperform” rating in a report on Wednesday, April 9th. Evercore ISI upgraded shares of Canadian Natural Resources from an “in-line” rating to an “outperform” rating in a report on Friday, March 7th. Tudor Pickering lowered shares of Canadian Natural Resources from a “strong-buy” rating to a “hold” rating in a research report on Monday, February 10th. Royal Bank of Canada reiterated an “outperform” rating and set a $63.00 price objective on shares of Canadian Natural Resources in a research report on Thursday, March 27th. Finally, Scotiabank upgraded Canadian Natural Resources from a “sector perform” rating to a “sector outperform” rating in a report on Wednesday, March 19th. Three equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $63.00.

Canadian Natural Resources Company Profile

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).