Canadian Natural Resources Limited $CNQ Shares Sold by Azzad Asset Management Inc. ADV

Azzad Asset Management Inc. ADV decreased its position in shares of Canadian Natural Resources Limited (NYSE:CNQ) (TSE:CNQ) by 13.6% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 125,514 shares of the oil and gas producer’s stock after selling 19,755 shares during the period. Canadian Natural Resources accounts for about 0.6% of Azzad Asset Management Inc. ADV’s investment portfolio, making the stock its 29th largest holding. Azzad Asset Management Inc. ADV’s holdings in Canadian Natural Resources were worth $6,116,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Personal CFO Solutions LLC boosted its stake in Canadian Natural Resources by 1.7% during the 1st quarter. Personal CFO Solutions LLC now owns 15,199 shares of the oil and gas producer’s stock valued at $747,000 after purchasing an additional 251 shares in the last quarter. Frank Rimerman Advisors LLC raised its stake in shares of Canadian Natural Resources by 2.5% in the 1st quarter. Frank Rimerman Advisors LLC now owns 18,420 shares of the oil and gas producer’s stock worth $898,000 after buying an additional 450 shares in the last quarter. Axxcess Wealth Management LLC bought a new stake in shares of Canadian Natural Resources in the 1st quarter worth $350,000. Kathmere Capital Management LLC lifted its holdings in shares of Canadian Natural Resources by 7.2% in the first quarter. Kathmere Capital Management LLC now owns 6,645 shares of the oil and gas producer’s stock valued at $324,000 after buying an additional 446 shares during the period. Finally, Marietta Investment Partners LLC lifted its holdings in shares of Canadian Natural Resources by 3.3% in the first quarter. Marietta Investment Partners LLC now owns 28,597 shares of the oil and gas producer’s stock valued at $1,394,000 after buying an additional 916 shares during the period. 74.03% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on CNQ shares. Weiss Ratings lowered Canadian Natural Resources from a “buy (b)” rating to a “buy (b-)” rating in a report on Monday, May 11th. The Goldman Sachs Group upped their price target on shares of Canadian Natural Resources from $37.00 to $49.00 and gave the company a “buy” rating in a report on Thursday, March 12th. Raymond James Financial raised shares of Canadian Natural Resources from a “market perform” rating to an “outperform” rating in a research note on Thursday, May 7th. Scotiabank upgraded shares of Canadian Natural Resources to a “hold” rating in a report on Friday, June 26th. Finally, Zacks Research lowered shares of Canadian Natural Resources from a “strong-buy” rating to a “hold” rating in a research note on Monday, June 8th. Six equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $57.00.

Canadian Natural Resources Stock Down 1.2%

Shares of NYSE:CNQ opened at $41.90 on Friday. The firm has a 50 day simple moving average of $44.51 and a 200 day simple moving average of $42.44. Canadian Natural Resources Limited has a 52 week low of $29.30 and a 52 week high of $51.34. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.68 and a current ratio of 0.98. The company has a market cap of $86.97 billion, a PE ratio of 12.51 and a beta of 0.47.

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

Canadian Natural Resources Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, July 7th. Stockholders of record on Tuesday, June 23rd were issued a dividend of $0.625 per share. The ex-dividend date was Tuesday, June 23rd. This represents a $2.50 dividend on an annualized basis and a dividend yield of 6.0%. Canadian Natural Resources’s payout ratio is currently 54.03%.

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.