Quadcap Wealth Management LLC Cuts Stock Position in Canadian Natural Resources Limited (NYSE:CNQ)

Quadcap Wealth Management LLC lessened its stake in Canadian Natural Resources Limited (NYSE:CNQ) (TSE:CNQ) by 11.9% in the 4th quarter, Holdings Channel.com reports. The fund owned 8,294 shares of the oil and gas producer’s stock after selling 1,120 shares during the quarter. Quadcap Wealth Management LLC’s holdings in Canadian Natural Resources were worth $256,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in CNQ. FMR LLC increased its holdings in Canadian Natural Resources by 8.7% in the 4th quarter. FMR LLC now owns 92,550,104 shares of the oil and gas producer’s stock worth $2,857,337,000 after acquiring an additional 7,372,718 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. increased its holdings in Canadian Natural Resources by 31.6% in the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 13,433,797 shares of the oil and gas producer’s stock worth $414,223,000 after acquiring an additional 3,224,548 shares in the last quarter. Geode Capital Management LLC increased its holdings in Canadian Natural Resources by 30.1% in the 4th quarter. Geode Capital Management LLC now owns 12,708,163 shares of the oil and gas producer’s stock worth $400,222,000 after acquiring an additional 2,939,866 shares in the last quarter. T. Rowe Price Investment Management Inc. increased its holdings in Canadian Natural Resources by 7.3% in the 4th 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. Finally, Bank of New York Mellon Corp increased its holdings in Canadian Natural Resources by 87.0% in the 4th quarter. Bank of New York Mellon Corp now owns 4,437,771 shares of the oil and gas producer’s stock worth $136,994,000 after acquiring an additional 2,064,492 shares in the last quarter. Hedge funds and other institutional investors own 74.03% of the company’s stock.

Canadian Natural Resources Price Performance

Canadian Natural Resources stock opened at $30.69 on Friday. Canadian Natural Resources Limited has a 52-week low of $24.65 and a 52-week high of $38.86. The firm has a market capitalization of $64.28 billion, a price-to-earnings ratio of 11.92 and a beta of 1.04. The company has a fifty day simple moving average of $29.30 and a 200-day simple moving average of $30.72. The company has a quick ratio of 0.53, a current ratio of 0.84 and a debt-to-equity ratio of 0.21.

Canadian Natural Resources (NYSE:CNQ) (TSE:CNQ) last announced its quarterly earnings data on Thursday, May 8th. The oil and gas producer reported $0.81 earnings per share (EPS) for the quarter, beating 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 in the prior year, the firm posted $1.37 earnings per share. On average, equities analysts anticipate that Canadian Natural Resources Limited will post 2.45 EPS for the current fiscal year.

Canadian Natural Resources Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, July 3rd. Investors of record on Friday, June 13th will be issued a $0.4227 dividend. The ex-dividend date of this dividend is Friday, June 13th. This represents a $1.69 dividend on an annualized basis and a dividend yield of 5.51%. This is a positive change from Canadian Natural Resources’s previous quarterly dividend of $0.41. Canadian Natural Resources’s dividend payout ratio is currently 63.92%.

Analysts Set New Price Targets

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

About Canadian Natural Resources

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).