Bank of New York Mellon Corp Decreases Holdings in Canadian Natural Resources Limited $CNQ

Bank of New York Mellon Corp cut its stake in Canadian Natural Resources Limited (NYSE:CNQ) (TSE:CNQ) by 6.8% during the 3rd quarter, HoldingsChannel reports. The firm owned 3,902,282 shares of the oil and gas producer’s stock after selling 282,909 shares during the quarter. Bank of New York Mellon Corp’s holdings in Canadian Natural Resources were worth $124,717,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of CNQ. Ameritas Advisory Services LLC purchased a new position in Canadian Natural Resources in the 2nd quarter worth approximately $27,000. Addison Advisors LLC boosted its stake in shares of Canadian Natural Resources by 309.1% in the second quarter. Addison Advisors LLC now owns 896 shares of the oil and gas producer’s stock valued at $28,000 after purchasing an additional 677 shares during the period. Nisa Investment Advisors LLC grew its holdings in Canadian Natural Resources by 100.0% during the 3rd quarter. Nisa Investment Advisors LLC now owns 1,000 shares of the oil and gas producer’s stock valued at $32,000 after purchasing an additional 500 shares in the last quarter. St. Johns Investment Management Company LLC acquired a new stake in Canadian Natural Resources during the 3rd quarter valued at $32,000. Finally, Geneos Wealth Management Inc. increased its stake in Canadian Natural Resources by 47.3% during the 1st quarter. Geneos Wealth Management Inc. now owns 1,644 shares of the oil and gas producer’s stock worth $51,000 after buying an additional 528 shares during the period. Institutional investors and hedge funds own 74.03% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on CNQ. Desjardins downgraded Canadian Natural Resources from a “buy” rating to a “hold” rating in a research note on Monday, November 24th. Weiss Ratings restated a “hold (c)” rating on shares of Canadian Natural Resources in a report on Wednesday, October 8th. Evercore ISI cut Canadian Natural Resources from an “outperform” rating to an “in-line” rating in a research note on Tuesday, January 6th. Wells Fargo & Company upgraded shares of Canadian Natural Resources to a “hold” rating in a research note on Thursday, October 16th. Finally, Scotiabank reiterated an “outperform” rating on shares of Canadian Natural Resources in a research note on Thursday, October 9th. Five equities research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $48.50.

Canadian Natural Resources Trading Down 1.8%

Canadian Natural Resources stock opened at $37.20 on Friday. Canadian Natural Resources Limited has a 1 year low of $24.65 and a 1 year high of $38.32. The firm’s 50-day moving average is $33.69 and its 200-day moving average is $32.27. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.53 and a current ratio of 0.86. The company has a market cap of $77.44 billion, a P/E ratio of 16.46 and a beta of 0.69.

Canadian Natural Resources (NYSE:CNQ) (TSE:CNQ) last issued its earnings results on Thursday, November 6th. The oil and gas producer reported $0.62 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.54 by $0.08. The firm had revenue of $6.79 billion for the quarter, compared to analysts’ expectations of $6.81 billion. Canadian Natural Resources had a net margin of 14.90% and a return on equity of 18.93%. During the same quarter last year, the company posted $0.97 earnings per share. On average, equities analysts expect that Canadian Natural Resources Limited will post 2.45 earnings per share for the current year.

Canadian Natural Resources Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, January 6th. Shareholders of record on Friday, December 12th were paid a $0.5875 dividend. The ex-dividend date was Friday, December 12th. This is a positive change from Canadian Natural Resources’s previous quarterly dividend of $0.43. This represents a $2.35 dividend on an annualized basis and a yield of 6.3%. Canadian Natural Resources’s dividend payout ratio (DPR) is 74.34%.

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.