CoreCap Advisors LLC Reduces Holdings in Canadian Natural Resources Limited (NYSE:CNQ)

CoreCap Advisors LLC trimmed its position in shares of Canadian Natural Resources Limited (NYSE:CNQ) (TSE:CNQ) by 4.5% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 4,506 shares of the oil and gas producer’s stock after selling 211 shares during the quarter. CoreCap Advisors LLC’s holdings in Canadian Natural Resources were worth $295,000 as of its most recent filing with the SEC.

Other large investors have also recently made changes to their positions in the company. Mission Wealth Management LP grew its holdings in Canadian Natural Resources by 3.6% in the 3rd quarter. Mission Wealth Management LP now owns 4,796 shares of the oil and gas producer’s stock valued at $310,000 after buying an additional 168 shares in the last quarter. Massmutual Trust Co. FSB ADV grew its holdings in Canadian Natural Resources by 21.2% in the 4th quarter. Massmutual Trust Co. FSB ADV now owns 1,070 shares of the oil and gas producer’s stock valued at $70,000 after buying an additional 187 shares in the last quarter. Raymond James Trust N.A. grew its holdings in Canadian Natural Resources by 2.3% in the 1st quarter. Raymond James Trust N.A. now owns 8,432 shares of the oil and gas producer’s stock valued at $523,000 after buying an additional 191 shares in the last quarter. Rothschild Investment LLC IL grew its holdings in Canadian Natural Resources by 1.4% in the 3rd quarter. Rothschild Investment LLC IL now owns 14,926 shares of the oil and gas producer’s stock valued at $965,000 after buying an additional 200 shares in the last quarter. Finally, Stokes Family Office LLC grew its holdings in Canadian Natural Resources by 2.1% in the 3rd quarter. Stokes Family Office LLC now owns 10,387 shares of the oil and gas producer’s stock valued at $672,000 after buying an additional 215 shares in the last quarter. 74.03% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Separately, JPMorgan Chase & Co. upped their target price on Canadian Natural Resources from $101.00 to $102.00 and gave the company a “neutral” rating in a report on Thursday, January 11th. Five analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $94.00.

Canadian Natural Resources Price Performance

CNQ opened at $75.48 on Thursday. The stock’s 50-day moving average price is $66.72 and its 200 day moving average price is $65.44. Canadian Natural Resources Limited has a 12-month low of $52.52 and a 12-month high of $75.99. The company has a current ratio of 0.96, a quick ratio of 0.69 and a debt-to-equity ratio of 0.25. The firm has a market cap of $81.04 billion, a price-to-earnings ratio of 13.62 and a beta of 1.53.

Canadian Natural Resources (NYSE:CNQ) (TSE:CNQ) last posted its quarterly earnings results on Thursday, February 29th. The oil and gas producer reported $1.72 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.59 by $0.13. The company had revenue of $7.02 billion for the quarter, compared to analyst estimates of $6.73 billion. Canadian Natural Resources had a return on equity of 21.74% and a net margin of 20.15%. As a group, sell-side analysts expect that Canadian Natural Resources Limited will post 5.44 earnings per share for the current year.

Canadian Natural Resources Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, April 5th. Stockholders of record on Friday, March 15th will be issued a $0.774 dividend. The ex-dividend date is Thursday, March 14th. This represents a $3.10 dividend on an annualized basis and a dividend yield of 4.10%. This is an increase from Canadian Natural Resources’s previous quarterly dividend of $0.72. Canadian Natural Resources’s dividend payout ratio is presently 53.25%.

Canadian Natural Resources 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).