Nicola Wealth Management LTD. trimmed its position in Canadian Natural Resources Limited (NYSE:CNQ – Free Report) (TSE:CNQ) by 24.8% in the 4th quarter, Holdings Channel.com reports. The fund owned 432,900 shares of the oil and gas producer’s stock after selling 143,000 shares during the quarter. Canadian Natural Resources makes up approximately 1.3% of Nicola Wealth Management LTD.’s portfolio, making the stock its 28th biggest position. Nicola Wealth Management LTD.’s holdings in Canadian Natural Resources were worth $14,665,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors also recently bought and sold shares of CNQ. Leonteq Securities AG acquired a new stake in Canadian Natural Resources in the fourth quarter valued at approximately $31,000. GoalVest Advisory LLC acquired a new stake in Canadian Natural Resources in the fourth quarter valued at approximately $32,000. Quarry LP acquired a new stake in Canadian Natural Resources in the third quarter valued at approximately $32,000. LOM Asset Management Ltd acquired a new stake in Canadian Natural Resources in the fourth quarter valued at approximately $34,000. Finally, Boyd Watterson Asset Management LLC OH acquired a new stake in Canadian Natural Resources in the fourth quarter valued at approximately $51,000. 74.03% of the stock is currently owned by institutional investors and hedge funds.
Canadian Natural Resources Trading Up 0.1%
NYSE CNQ opened at $48.67 on Monday. The company has a fifty day simple moving average of $47.24 and a two-hundred day simple moving average of $40.00. The stock has a market cap of $101.25 billion, a P/E ratio of 14.53 and a beta of 0.47. Canadian Natural Resources Limited has a 12-month low of $29.30 and a 12-month high of $51.34. The company has a current ratio of 0.98, a quick ratio of 0.68 and a debt-to-equity ratio of 0.37.
Canadian Natural Resources Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 7th. Investors of record on Tuesday, June 23rd will be issued a dividend of $0.625 per share. This represents a $2.50 annualized dividend and a dividend yield of 5.1%. The ex-dividend date of this dividend is Tuesday, June 23rd. Canadian Natural Resources’s dividend payout ratio (DPR) is 54.63%.
Wall Street Analyst Weigh In
A number of research analysts have issued reports on CNQ shares. 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. Zacks Research raised shares of Canadian Natural Resources from a “hold” rating to a “strong-buy” rating in a report on Tuesday, May 5th. ATB Cormark Capital Markets cut shares of Canadian Natural Resources from a “strong-buy” rating to a “moderate buy” rating in a report on Thursday, March 5th. Royal Bank Of Canada raised their price target on shares of Canadian Natural Resources from $61.00 to $65.00 and gave the stock an “outperform” rating in a report on Friday, March 6th. Finally, Weiss Ratings cut shares of Canadian Natural Resources from a “buy (b)” rating to a “buy (b-)” rating in a report on Monday, May 11th. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $57.00.
Get Our Latest Research Report on CNQ
Canadian Natural Resources 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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