Ritholtz Wealth Management Reduces Stake in Canadian Natural Resources Limited (NYSE:CNQ)

Ritholtz Wealth Management lowered its position in Canadian Natural Resources Limited (NYSE:CNQFree Report) (TSE:CNQ) by 37.4% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 58,306 shares of the oil and gas producer’s stock after selling 34,805 shares during the period. Ritholtz Wealth Management’s holdings in Canadian Natural Resources were worth $1,796,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently bought and sold shares of the company. Duncker Streett & Co. Inc. purchased a new stake in Canadian Natural Resources in the fourth quarter valued at approximately $25,000. Lee Danner & Bass Inc. purchased a new stake in Canadian Natural Resources in the fourth quarter valued at approximately $25,000. Hurley Capital LLC purchased a new stake in Canadian Natural Resources in the fourth quarter valued at approximately $31,000. Sandy Spring Bank purchased a new stake in Canadian Natural Resources in the fourth quarter valued at approximately $31,000. Finally, CoreFirst Bank & Trust purchased a new stake in Canadian Natural Resources in the fourth quarter valued at approximately $31,000. Hedge funds and other institutional investors own 74.03% of the company’s stock.

Canadian Natural Resources Trading Down 1.4%

Shares of NYSE:CNQ opened at $33.30 on Tuesday. Canadian Natural Resources Limited has a 12-month low of $24.65 and a 12-month high of $37.91. The company has a market capitalization of $69.66 billion, a PE ratio of 12.93 and a beta of 1.03. The business has a 50 day moving average of $30.08 and a two-hundred day moving average of $30.30. The company has a current ratio of 0.84, a quick ratio of 0.53 and a debt-to-equity ratio of 0.21.

Canadian Natural Resources (NYSE:CNQGet Free Report) (TSE:CNQ) last announced its earnings results on Thursday, May 8th. The oil and gas producer reported $0.81 earnings per share for the quarter, topping the consensus estimate of $0.73 by $0.08. The business had revenue of $6.96 billion during the quarter, compared to the consensus estimate of $10.14 billion. Canadian Natural Resources had a return on equity of 20.07% and a net margin of 18.45%. During the same period in the prior year, the company posted $1.37 EPS. As a group, analysts forecast 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 Thursday, July 3rd. Stockholders of record on Friday, June 13th will be paid a dividend of $0.4227 per share. This represents a $1.69 annualized dividend and a dividend yield of 5.08%. This is an increase from Canadian Natural Resources’s previous quarterly dividend of $0.41. The ex-dividend date is Friday, June 13th. Canadian Natural Resources’s dividend payout ratio is presently 67.06%.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on CNQ. Scotiabank upgraded Canadian Natural Resources from a “sector perform” rating to a “sector outperform” rating in a research report on Wednesday, March 19th. Royal Bank of Canada reissued an “outperform” rating and issued a $63.00 price target on shares of Canadian Natural Resources in a report on Thursday, March 27th. Raymond James raised Canadian Natural Resources from a “market perform” rating to an “outperform” rating in a report on Wednesday, April 9th. Finally, Evercore ISI raised Canadian Natural Resources from an “in-line” rating to an “outperform” rating in a report on Friday, March 7th. Three research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $63.00.

Get Our Latest Analysis on Canadian Natural Resources

Canadian Natural Resources Company Profile

(Free Report)

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).

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

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