Bank of New York Mellon Corp Reduces Stock Position in Canadian Natural Resources Limited $CNQ

Bank of New York Mellon Corp decreased its position in shares of Canadian Natural Resources Limited (NYSE:CNQ) (TSE:CNQ) by 17.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,227,229 shares of the oil and gas producer’s stock after selling 675,053 shares during the quarter. Bank of New York Mellon Corp’s holdings in Canadian Natural Resources were worth $109,242,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of CNQ. Envestnet Asset Management Inc. grew its holdings in Canadian Natural Resources by 2.8% during the 3rd quarter. Envestnet Asset Management Inc. now owns 1,616,219 shares of the oil and gas producer’s stock worth $51,654,000 after acquiring an additional 43,356 shares in the last quarter. TD Waterhouse Canada Inc. raised its stake in shares of Canadian Natural Resources by 4.9% in the 4th quarter. TD Waterhouse Canada Inc. now owns 6,758,445 shares of the oil and gas producer’s stock valued at $228,729,000 after purchasing an additional 315,460 shares in the last quarter. SCP Investment LP acquired a new stake in shares of Canadian Natural Resources in the 3rd quarter valued at about $1,144,000. Marshall Financial Group LLC bought a new position in shares of Canadian Natural Resources during the fourth quarter worth about $869,000. Finally, Numerai GP LLC grew its stake in Canadian Natural Resources by 102.5% in the third quarter. Numerai GP LLC now owns 77,164 shares of the oil and gas producer’s stock worth $2,466,000 after purchasing an additional 39,049 shares in the last quarter. Institutional investors and hedge funds own 74.03% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on CNQ shares. ATB Cormark Capital Markets lowered Canadian Natural Resources from a “strong-buy” rating to a “moderate buy” rating in a report on Thursday, March 5th. Zacks Research raised Canadian Natural Resources from a “hold” rating to a “strong-buy” rating in a report on Tuesday, May 5th. Raymond James Financial upgraded Canadian Natural Resources from a “market perform” rating to an “outperform” rating in a research report on Thursday, May 7th. Royal Bank Of Canada upped their price target on Canadian Natural Resources from $61.00 to $65.00 and gave the company an “outperform” rating in a research report on Friday, March 6th. Finally, Scotiabank restated an “outperform” rating on shares of Canadian Natural Resources in a research note on Wednesday, May 20th. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $57.00.

Canadian Natural Resources Trading Up 0.1%

Shares of NYSE CNQ opened at $45.74 on Monday. The company has a market cap of $95.20 billion, a price-to-earnings ratio of 13.65 and a beta of 0.45. Canadian Natural Resources Limited has a 12-month low of $29.30 and a 12-month high of $51.34. The company has a current ratio of 0.98, a quick ratio of 0.68 and a debt-to-equity ratio of 0.37. The stock’s 50 day simple moving average is $46.78 and its 200 day simple moving average is $41.01.

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

Canadian Natural Resources Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 7th. Stockholders of record on Tuesday, June 23rd will be given a dividend of $0.625 per share. The ex-dividend date is Tuesday, June 23rd. This represents a $2.50 annualized dividend and a dividend yield of 5.5%. Canadian Natural Resources’s dividend payout ratio is currently 54.63%.

Canadian Natural Resources Profile

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.