Adams Natural Resources Fund Inc. Sells 45,800 Shares of Canadian Natural Resources Limited $CNQ

Adams Natural Resources Fund Inc. reduced its stake in Canadian Natural Resources Limited (NYSE:CNQ) (TSE:CNQ) by 47.2% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 51,200 shares of the oil and gas producer’s stock after selling 45,800 shares during the quarter. Adams Natural Resources Fund Inc.’s holdings in Canadian Natural Resources were worth $1,733,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of CNQ. AQR Capital Management LLC raised its holdings in Canadian Natural Resources by 85.5% in the 1st quarter. AQR Capital Management LLC now owns 18,090 shares of the oil and gas producer’s stock worth $557,000 after purchasing an additional 8,336 shares during the period. Jones Financial Companies Lllp raised its holdings in Canadian Natural Resources by 92.7% in the 1st quarter. Jones Financial Companies Lllp now owns 29,096 shares of the oil and gas producer’s stock worth $896,000 after purchasing an additional 13,996 shares during the period. Empowered Funds LLC raised its holdings in Canadian Natural Resources by 4.3% in the 1st quarter. Empowered Funds LLC now owns 79,374 shares of the oil and gas producer’s stock worth $2,445,000 after purchasing an additional 3,266 shares during the period. Geneos Wealth Management Inc. raised its holdings in Canadian Natural Resources by 47.3% in the 1st quarter. Geneos Wealth Management Inc. now owns 1,644 shares of the oil and gas producer’s stock worth $51,000 after purchasing an additional 528 shares during the period. Finally, EverSource Wealth Advisors LLC raised its holdings in Canadian Natural Resources by 65.5% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 4,513 shares of the oil and gas producer’s stock worth $142,000 after purchasing an additional 1,786 shares during the period. 74.03% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on CNQ. Scotiabank reaffirmed an “outperform” rating on shares of Canadian Natural Resources in a report on Wednesday, May 20th. Raymond James Financial raised Canadian Natural Resources from a “market perform” rating to an “outperform” rating in a report on Thursday, May 7th. Weiss Ratings cut Canadian Natural Resources from a “buy (b)” rating to a “buy (b-)” rating in a report on Monday, May 11th. Royal Bank Of Canada raised their price target on Canadian Natural Resources from $61.00 to $65.00 and gave the company an “outperform” rating in a report on Friday, March 6th. Finally, ATB Cormark Capital Markets cut Canadian Natural Resources from a “strong-buy” rating to a “moderate buy” rating in a report on Thursday, March 5th. Seven equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $57.00.

Canadian Natural Resources Price Performance

NYSE:CNQ opened at $45.32 on Friday. The company has a quick ratio of 0.68, a current ratio of 0.98 and a debt-to-equity ratio of 0.37. The business’s 50-day simple moving average is $46.46 and its two-hundred day simple moving average is $41.37. The stock has a market cap of $94.33 billion, a PE ratio of 13.53 and a beta of 0.45. Canadian Natural Resources Limited has a 52 week low of $29.30 and a 52 week high of $51.34.

Canadian Natural Resources (NYSE:CNQ) (TSE:CNQ) last posted its quarterly earnings results on Thursday, May 7th. The oil and gas producer reported $0.85 EPS for the quarter, beating analysts’ consensus estimates of $0.74 by $0.11. The business had revenue of $7.72 billion for the quarter, compared to analysts’ expectations of $7.57 billion. Canadian Natural Resources had a return on equity of 17.49% and a net margin of 22.04%.During the same period last year, the firm earned $1.16 earnings per share. As a group, analysts forecast that Canadian Natural Resources Limited will post 4.2 EPS for the current fiscal year.

Canadian Natural Resources Announces Dividend

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

Canadian Natural Resources Company 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.