Canadian Natural Resources Limited $CNQ Stake Decreased by Longfellow Investment Management Co. LLC

Longfellow Investment Management Co. LLC decreased its position in shares of Canadian Natural Resources Limited (NYSE:CNQ) (TSE:CNQ) by 30.8% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 464,721 shares of the oil and gas producer’s stock after selling 207,000 shares during the period. Canadian Natural Resources comprises about 3.5% of Longfellow Investment Management Co. LLC’s holdings, making the stock its 7th largest holding. Longfellow Investment Management Co. LLC’s holdings in Canadian Natural Resources were worth $15,731,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in CNQ. Leonteq Securities AG purchased a new position in shares of Canadian Natural Resources during the 4th quarter worth approximately $31,000. GoalVest Advisory LLC purchased a new stake in shares of Canadian Natural Resources in the 4th quarter worth approximately $32,000. Quarry LP purchased a new stake in shares of Canadian Natural Resources in the 3rd quarter worth approximately $32,000. LOM Asset Management Ltd purchased a new stake in shares of Canadian Natural Resources in the 4th quarter worth approximately $34,000. Finally, Boyd Watterson Asset Management LLC OH purchased a new stake in shares of Canadian Natural Resources in the 4th quarter worth approximately $51,000. Hedge funds and other institutional investors own 74.03% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently weighed in on CNQ. Scotiabank restated an “outperform” rating on shares of Canadian Natural Resources in a research note on Wednesday, May 20th. Raymond James Financial upgraded Canadian Natural Resources from a “market perform” rating to an “outperform” rating in a research note on Thursday, May 7th. Weiss Ratings cut Canadian Natural Resources from a “buy (b)” rating to a “buy (b-)” rating in a research report on Monday, May 11th. The Goldman Sachs Group upped their price objective on Canadian Natural Resources from $37.00 to $49.00 and gave the company a “buy” rating in a research report on Thursday, March 12th. Finally, Zacks Research raised Canadian Natural Resources from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, May 5th. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat, Canadian Natural Resources presently has an average rating of “Moderate Buy” and a consensus price target of $57.00.

Canadian Natural Resources Price Performance

NYSE CNQ opened at $45.74 on Friday. The business’s fifty day moving average price is $46.78 and its 200-day moving average price is $40.96. The stock has a market capitalization of $95.20 billion, a price-to-earnings ratio of 13.65 and a beta of 0.45. The company has a debt-to-equity ratio of 0.37, a current ratio of 0.98 and a quick ratio of 0.68. Canadian Natural Resources Limited has a 1-year low of $29.30 and a 1-year high of $51.34.

Canadian Natural Resources (NYSE:CNQ) (TSE:CNQ) last released its quarterly earnings results on Thursday, May 7th. The oil and gas producer reported $0.85 earnings per share for the quarter, beating the consensus estimate of $0.74 by $0.11. The firm had revenue of $7.72 billion for the quarter, compared to analysts’ expectations of $7.57 billion. Canadian Natural Resources had a return on equity of 17.49% and a net margin of 22.04%.During the same period in the prior year, the firm earned $1.16 EPS. On average, equities analysts predict that Canadian Natural Resources Limited will post 4.2 earnings per share for the current year.

Canadian Natural Resources Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 7th. Stockholders 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 5.5%. The ex-dividend date of this dividend is Tuesday, June 23rd. Canadian Natural Resources’s dividend payout ratio is presently 54.63%.

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.