Raymond James & Associates reduced its position in Canadian Natural Resources Limited (NYSE:CNQ – Get Rating) (TSE:CNQ) by 1.6% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 252,373 shares of the oil and gas producer’s stock after selling 4,146 shares during the quarter. Raymond James & Associates’ holdings in Canadian Natural Resources were worth $14,014,000 at the end of the most recent quarter.
Several other institutional investors have also recently modified their holdings of the company. Ronald Blue Trust Inc. boosted its stake in Canadian Natural Resources by 198.4% in the fourth quarter. Ronald Blue Trust Inc. now owns 558 shares of the oil and gas producer’s stock worth $26,000 after buying an additional 371 shares in the last quarter. Guardian Wealth Advisors LLC purchased a new stake in shares of Canadian Natural Resources in the 3rd quarter valued at $31,000. Captrust Financial Advisors grew its holdings in shares of Canadian Natural Resources by 57.6% during the 2nd quarter. Captrust Financial Advisors now owns 594 shares of the oil and gas producer’s stock valued at $32,000 after purchasing an additional 217 shares during the last quarter. Glassman Wealth Services raised its position in Canadian Natural Resources by 25.9% in the 4th quarter. Glassman Wealth Services now owns 847 shares of the oil and gas producer’s stock worth $47,000 after purchasing an additional 174 shares during the period. Finally, Allworth Financial LP lifted its stake in Canadian Natural Resources by 677.2% in the fourth quarter. Allworth Financial LP now owns 987 shares of the oil and gas producer’s stock worth $55,000 after purchasing an additional 860 shares during the last quarter. 70.92% of the stock is currently owned by institutional investors.
Canadian Natural Resources Price Performance
Shares of CNQ stock opened at $55.14 on Wednesday. The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.57 and a current ratio of 0.83. Canadian Natural Resources Limited has a fifty-two week low of $44.45 and a fifty-two week high of $69.46. The firm has a market cap of $60.46 billion, a P/E ratio of 8.54, a P/E/G ratio of 0.84 and a beta of 1.57. The business’s 50 day moving average price is $56.77 and its 200-day moving average price is $57.50.
Canadian Natural Resources (NYSE:CNQ – Get Rating) (TSE:CNQ) last released its quarterly earnings results on Thursday, March 2nd. The oil and gas producer reported $1.44 earnings per share for the quarter, missing the consensus estimate of $1.61 by ($0.17). Canadian Natural Resources had a net margin of 20.63% and a return on equity of 29.39%. The company had revenue of $7.14 billion during the quarter, compared to the consensus estimate of $7.04 billion. On average, equities research analysts anticipate that Canadian Natural Resources Limited will post 5.55 earnings per share for the current year.
Canadian Natural Resources Cuts Dividend
The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 5th. Investors of record on Friday, June 16th will be given a dividend of $0.664 per share. This represents a $2.66 annualized dividend and a dividend yield of 4.82%. The ex-dividend date of this dividend is Thursday, June 15th. Canadian Natural Resources’s dividend payout ratio is currently 41.02%.
Wall Street Analysts Forecast Growth
Several research firms have recently commented on CNQ. StockNews.com initiated coverage on Canadian Natural Resources in a report on Thursday, March 16th. They issued a “hold” rating on the stock. Scotiabank decreased their price target on Canadian Natural Resources from C$91.00 to C$86.00 in a research note on Tuesday, January 17th. Four research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $94.14.
About Canadian Natural Resources
Canadian Natural Resources Ltd. is an oil and natural gas production company, which engages in the exploration, development, marketing, and production of crude oil and natural gas. It operates through the following segments: Oil Sands Mining & Upgrading, Midstream & Refining, and Exploration & Production.
Further Reading
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Read More: Raymond James & Associates Lowers Stock Holdings in Canadian Natural Resources