Dakota Wealth Management Lowers Holdings in Canadian Natural Resources Limited $CNQ

Dakota Wealth Management lessened its stake in Canadian Natural Resources Limited (NYSE:CNQ) (TSE:CNQ) by 7.1% in the 2nd quarter, Holdings Channel.com reports. The firm owned 97,290 shares of the oil and gas producer’s stock after selling 7,398 shares during the quarter. Dakota Wealth Management’s holdings in Canadian Natural Resources were worth $3,055,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of the business. T. Rowe Price Investment Management Inc. raised its position in Canadian Natural Resources by 29.1% in the 1st quarter. T. Rowe Price Investment Management Inc. now owns 43,968,120 shares of the oil and gas producer’s stock worth $1,354,219,000 after buying an additional 9,915,345 shares during the last quarter. Canada Pension Plan Investment Board grew its stake in shares of Canadian Natural Resources by 13.0% during the 1st quarter. Canada Pension Plan Investment Board now owns 41,769,153 shares of the oil and gas producer’s stock valued at $1,285,464,000 after acquiring an additional 4,805,451 shares during the period. Mackenzie Financial Corp grew its stake in shares of Canadian Natural Resources by 4.8% during the 1st quarter. Mackenzie Financial Corp now owns 33,100,240 shares of the oil and gas producer’s stock valued at $1,018,469,000 after acquiring an additional 1,519,523 shares during the period. 1832 Asset Management L.P. boosted its stake in Canadian Natural Resources by 1.9% in the 1st quarter. 1832 Asset Management L.P. now owns 31,822,379 shares of the oil and gas producer’s stock worth $980,129,000 after purchasing an additional 603,101 shares during the period. Finally, Bank of Nova Scotia boosted its stake in Canadian Natural Resources by 86.6% in the 1st quarter. Bank of Nova Scotia now owns 24,262,707 shares of the oil and gas producer’s stock worth $746,675,000 after purchasing an additional 11,259,267 shares during the period. Hedge funds and other institutional investors own 74.03% of the company’s stock.

Canadian Natural Resources Trading Down 0.9%

Canadian Natural Resources stock opened at $32.48 on Friday. The company has a quick ratio of 0.54, a current ratio of 0.85 and a debt-to-equity ratio of 0.38. Canadian Natural Resources Limited has a 52 week low of $24.65 and a 52 week high of $37.91. The company has a market capitalization of $67.78 billion, a price-to-earnings ratio of 11.52 and a beta of 1.03. The stock has a 50-day moving average price of $31.16 and a 200 day moving average price of $30.69.

Canadian Natural Resources (NYSE:CNQ) (TSE:CNQ) last released its earnings results on Thursday, August 7th. The oil and gas producer reported $0.51 EPS for the quarter, topping analysts’ consensus estimates of $0.44 by $0.07. Canadian Natural Resources had a return on equity of 19.67% and a net margin of 19.00%.The firm had revenue of $6.39 billion during the quarter, compared to the consensus estimate of $8.97 billion. During the same quarter in the previous year, the company posted $0.88 earnings per share. Sell-side analysts anticipate that Canadian Natural Resources Limited will post 2.45 EPS for the current year.

Canadian Natural Resources Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 3rd. Stockholders of record on Friday, September 19th will be paid a dividend of $0.4269 per share. This represents a $1.71 annualized dividend and a dividend yield of 5.3%. The ex-dividend date of this dividend is Friday, September 19th. This is a positive change from Canadian Natural Resources’s previous quarterly dividend of $0.42. Canadian Natural Resources’s dividend payout ratio is currently 60.64%.

Analyst Ratings Changes

Several analysts have recently issued reports on the company. National Bankshares reaffirmed a “sector perform” rating on shares of Canadian Natural Resources in a report on Thursday, July 17th. Scotiabank reiterated an “outperform” rating on shares of Canadian Natural Resources in a report on Friday, July 11th. Zacks Research upgraded Canadian Natural Resources from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, August 26th. Royal Bank Of Canada restated an “outperform” rating and set a $62.00 price target on shares of Canadian Natural Resources in a research note on Wednesday. Finally, Raymond James Financial restated an “outperform” rating on shares of Canadian Natural Resources in a research note on Friday, August 8th. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat, Canadian Natural Resources presently has an average rating of “Moderate Buy” and a consensus target price of $62.00.

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).