Sequent Planning LLC decreased its holdings in Canadian Natural Resources Limited (NYSE:CNQ – Free Report) (TSE:CNQ) by 75.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 6,452 shares of the oil and gas producer’s stock after selling 20,223 shares during the quarter. Sequent Planning LLC’s holdings in Canadian Natural Resources were worth $218,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Pacific Heights Asset Management LLC boosted its holdings in shares of Canadian Natural Resources by 10.0% in the fourth quarter. Pacific Heights Asset Management LLC now owns 550,000 shares of the oil and gas producer’s stock worth $18,618,000 after buying an additional 50,000 shares during the last quarter. Northwestern Mutual Wealth Management Co. boosted its holdings in shares of Canadian Natural Resources by 255.9% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 457,067 shares of the oil and gas producer’s stock worth $15,472,000 after buying an additional 328,630 shares during the last quarter. Conning Inc. boosted its holdings in shares of Canadian Natural Resources by 16.1% in the fourth quarter. Conning Inc. now owns 18,004 shares of the oil and gas producer’s stock worth $609,000 after buying an additional 2,495 shares during the last quarter. Plancorp LLC purchased a new position in shares of Canadian Natural Resources in the fourth quarter worth approximately $230,000. Finally, Allworth Financial LP boosted its holdings in shares of Canadian Natural Resources by 27.7% in the fourth quarter. Allworth Financial LP now owns 11,332 shares of the oil and gas producer’s stock worth $384,000 after buying an additional 2,461 shares during the last quarter. Hedge funds and other institutional investors own 74.03% of the company’s stock.
Analyst Ratings Changes
A number of equities analysts recently issued reports on CNQ shares. ATB Cormark Capital Markets downgraded shares of Canadian Natural Resources from a “strong-buy” rating to a “moderate buy” rating in a report on Thursday, March 5th. Weiss Ratings downgraded shares of Canadian Natural Resources from a “buy (b)” rating to a “buy (b-)” rating in a report on Monday, May 11th. Raymond James Financial raised shares of Canadian Natural Resources from a “market perform” rating to an “outperform” rating in a report on Thursday, May 7th. Wall Street Zen raised shares of Canadian Natural Resources from a “sell” rating to a “hold” rating in a report on Saturday, January 31st. Finally, Royal Bank Of Canada lifted their price target on shares of Canadian Natural Resources from $61.00 to $65.00 and gave the company an “outperform” rating in a report on Friday, March 6th. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Canadian Natural Resources currently has an average rating of “Moderate Buy” and a consensus target price of $57.00.
Canadian Natural Resources Trading Up 1.9%
Shares of CNQ opened at $48.90 on Tuesday. The company’s fifty day moving average is $47.04 and its 200 day moving average is $39.52. Canadian Natural Resources Limited has a fifty-two week low of $29.30 and a fifty-two week high of $51.34. The stock has a market capitalization of $101.72 billion, a PE ratio of 14.60 and a beta of 0.47. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.68 and a current ratio of 0.98.
Canadian Natural Resources (NYSE:CNQ – Get Free Report) (TSE:CNQ) last announced its quarterly earnings results on Thursday, May 7th. The oil and gas producer reported $0.85 earnings per share for the quarter, topping the consensus estimate of $0.74 by $0.11. Canadian Natural Resources had a net margin of 22.04% and a return on equity of 17.49%. The company had revenue of $7.72 billion for the quarter, compared to analysts’ expectations of $7.57 billion. During the same quarter in the previous year, the business posted $1.16 earnings per share. Sell-side analysts expect that Canadian Natural Resources Limited will post 4.09 earnings per share for the current fiscal year.
Canadian Natural Resources Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 7th. Investors of record on Tuesday, June 23rd will be given a $0.625 dividend. This represents a $2.50 annualized dividend and a yield of 5.1%. The ex-dividend date is Tuesday, June 23rd. Canadian Natural Resources’s payout ratio is currently 54.63%.
Canadian Natural Resources Company Profile
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.
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