Corient Private Wealth LLC Cuts Stake in Canadian Natural Resources Limited $CNQ

Corient Private Wealth LLC reduced its holdings in shares of Canadian Natural Resources Limited (NYSE:CNQ) (TSE:CNQ) by 5.9% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 444,451 shares of the oil and gas producer’s stock after selling 27,675 shares during the period. Corient Private Wealth LLC’s holdings in Canadian Natural Resources were worth $15,045,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Pure Financial Advisors LLC bought a new position in shares of Canadian Natural Resources during the 4th quarter valued at $214,000. Sunbelt Securities Inc. bought a new stake in Canadian Natural Resources in the fourth quarter worth $25,000. Compound Planning Inc. lifted its stake in Canadian Natural Resources by 9.6% in the fourth quarter. Compound Planning Inc. now owns 26,778 shares of the oil and gas producer’s stock worth $906,000 after purchasing an additional 2,349 shares during the last quarter. Mercer Global Advisors Inc. ADV boosted its position in Canadian Natural Resources by 2.6% during the fourth quarter. Mercer Global Advisors Inc. ADV now owns 18,975 shares of the oil and gas producer’s stock valued at $642,000 after buying an additional 472 shares during the period. Finally, Wahed Invest LLC boosted its position in Canadian Natural Resources by 20.4% during the fourth quarter. Wahed Invest LLC now owns 45,592 shares of the oil and gas producer’s stock valued at $1,546,000 after buying an additional 7,731 shares during the period. 74.03% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the company. ATB Cormark Capital Markets cut Canadian Natural Resources from a “strong-buy” rating to a “moderate buy” rating in a research note on Thursday, March 5th. Raymond James Financial raised Canadian Natural Resources from a “market perform” rating to an “outperform” rating in a research note on Thursday, May 7th. Scotiabank restated an “outperform” rating on shares of Canadian Natural Resources in a report on Wednesday, May 20th. Royal Bank Of Canada raised their price target on Canadian Natural Resources from $61.00 to $65.00 and gave the stock an “outperform” rating in a research report on Friday, March 6th. Finally, The Goldman Sachs Group lifted their price target on Canadian Natural Resources from $37.00 to $49.00 and gave the stock a “buy” rating in a research note on Thursday, March 12th. Seven research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $57.00.

Canadian Natural Resources Trading Down 1.9%

Shares of CNQ opened at $41.00 on Wednesday. The stock has a market capitalization of $85.10 billion, a P/E ratio of 12.24 and a beta of 0.45. The company has a quick ratio of 0.68, a current ratio of 0.98 and a debt-to-equity ratio of 0.37. The firm has a fifty day simple moving average of $45.73 and a two-hundred day simple moving average of $41.84. Canadian Natural Resources Limited has a twelve month low of $29.30 and a twelve month high of $51.34.

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

Canadian Natural Resources Dividend Announcement

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 paid a $0.625 dividend. The ex-dividend date of this dividend is Tuesday, June 23rd. This represents a $2.50 annualized dividend and a dividend yield of 6.1%. Canadian Natural Resources’s dividend payout ratio (DPR) is presently 54.63%.

About Canadian Natural Resources

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.