FIL Ltd Trims Stock Holdings in Canadian Natural Resources Ltd (NYSE:CNQ)

FIL Ltd decreased its position in Canadian Natural Resources Ltd (NYSE:CNQ) (TSE:CNQ) by 5.0% during the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 20,653,433 shares of the oil and gas producer’s stock after selling 1,081,652 shares during the period. Canadian Natural Resources comprises approximately 0.9% of FIL Ltd’s portfolio, making the stock its 20th biggest holding. FIL Ltd owned 1.72% of Canadian Natural Resources worth $567,068,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of the business. Vanguard Group Inc lifted its position in shares of Canadian Natural Resources by 3.2% during the third quarter. Vanguard Group Inc now owns 33,721,656 shares of the oil and gas producer’s stock valued at $1,101,349,000 after buying an additional 1,031,712 shares during the last quarter. IFP Advisors Inc raised its position in shares of Canadian Natural Resources by 71.7% in the 4th quarter. IFP Advisors Inc now owns 1,042 shares of the oil and gas producer’s stock valued at $25,000 after purchasing an additional 435 shares during the last quarter. Jarislowsky Fraser Ltd raised its position in shares of Canadian Natural Resources by 5.2% in the 4th quarter. Jarislowsky Fraser Ltd now owns 18,980,095 shares of the oil and gas producer’s stock valued at $457,756,000 after purchasing an additional 934,175 shares during the last quarter. ARGA Investment Management LP purchased a new position in shares of Canadian Natural Resources in the 4th quarter valued at approximately $58,926,000. Finally, Cigna Investments Inc. New raised its position in shares of Canadian Natural Resources by 7.6% in the 4th quarter. Cigna Investments Inc. New now owns 17,459 shares of the oil and gas producer’s stock valued at $421,000 after purchasing an additional 1,232 shares during the last quarter. 64.83% of the stock is currently owned by institutional investors.

CNQ has been the subject of several research analyst reports. ValuEngine lowered shares of Canadian Natural Resources from a “hold” rating to a “sell” rating in a research report on Tuesday, March 5th. Royal Bank of Canada reiterated a “buy” rating on shares of Canadian Natural Resources in a report on Tuesday, March 5th. Mizuho began coverage on shares of Canadian Natural Resources in a report on Monday, March 11th. They issued a “buy” rating and a $45.00 price target on the stock. Zacks Investment Research downgraded shares of Canadian Natural Resources from a “hold” rating to a “sell” rating in a report on Tuesday, March 12th. Finally, Evercore ISI began coverage on shares of Canadian Natural Resources in a report on Wednesday, March 13th. They issued an “in-line” rating on the stock. Four research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. Canadian Natural Resources presently has an average rating of “Buy” and an average target price of $41.09.

Shares of NYSE CNQ traded up $0.14 during midday trading on Friday, reaching $26.97. 2,202,401 shares of the stock were exchanged, compared to its average volume of 2,941,717. The company has a market capitalization of $33.30 billion, a price-to-earnings ratio of 12.54, a price-to-earnings-growth ratio of 2.03 and a beta of 1.22. Canadian Natural Resources Ltd has a twelve month low of $21.85 and a twelve month high of $37.41. The firm has a 50-day moving average price of $27.04. The company has a current ratio of 0.76, a quick ratio of 0.57 and a debt-to-equity ratio of 0.60.

Canadian Natural Resources (NYSE:CNQ) (TSE:CNQ) last released its quarterly earnings results on Thursday, May 9th. The oil and gas producer reported $0.70 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.39 by $0.31. Canadian Natural Resources had a net margin of 13.50% and a return on equity of 8.98%. The firm had revenue of $3.95 billion for the quarter, compared to analysts’ expectations of $3.73 billion. During the same quarter last year, the company earned $0.71 EPS. On average, analysts forecast that Canadian Natural Resources Ltd will post 2.28 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Friday, June 14th will be paid a $0.2794 dividend. The ex-dividend date is Thursday, June 13th. This represents a $1.12 dividend on an annualized basis and a yield of 4.14%. Canadian Natural Resources’s dividend payout ratio is currently 51.63%.

About Canadian Natural Resources

Canadian Natural Resources Limited explores for, develops, produces, and markets crude oil, natural gas, and natural gas liquids (NGLs). The company offers synthetic crude oil (SCO), light and medium crude oil, bitumen (thermal oil), primary heavy crude oil, and Pelican Lake heavy crude oil. Its midstream assets include two crude oil pipeline systems; and a 50% working interest in an 84-megawatt cogeneration plant at Primrose.

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Institutional Ownership by Quarter for Canadian Natural Resources (NYSE:CNQ)

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