Bank of New York Mellon Corp Sells 1,112,185 Shares of Canadian Natural Resources Limited $CNQ

Bank of New York Mellon Corp reduced its position in Canadian Natural Resources Limited (NYSE:CNQ) (TSE:CNQ) by 34.5% in the 1st quarter, Holdings Channel reports. The institutional investor owned 2,115,044 shares of the oil and gas producer’s stock after selling 1,112,185 shares during the period. Bank of New York Mellon Corp’s holdings in Canadian Natural Resources were worth $103,066,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Capital Research Global Investors lifted its stake in shares of Canadian Natural Resources by 31.5% during the fourth quarter. Capital Research Global Investors now owns 146,331,336 shares of the oil and gas producer’s stock valued at $4,956,204,000 after acquiring an additional 35,067,143 shares during the period. Vanguard Group Inc. increased its position in Canadian Natural Resources by 0.9% in the fourth quarter. Vanguard Group Inc. now owns 93,305,198 shares of the oil and gas producer’s stock worth $3,160,340,000 after purchasing an additional 818,809 shares during the period. Fisher Asset Management LLC boosted its stake in shares of Canadian Natural Resources by 3.2% in the 4th quarter. Fisher Asset Management LLC now owns 42,745,981 shares of the oil and gas producer’s stock valued at $1,446,951,000 after purchasing an additional 1,342,954 shares during the last quarter. Geode Capital Management LLC grew its position in shares of Canadian Natural Resources by 7.0% during the 4th quarter. Geode Capital Management LLC now owns 20,518,621 shares of the oil and gas producer’s stock worth $710,119,000 after buying an additional 1,347,844 shares during the period. Finally, JPMorgan Chase & Co. grew its position in shares of Canadian Natural Resources by 1.9% during the 4th quarter. JPMorgan Chase & Co. now owns 14,308,539 shares of the oil and gas producer’s stock worth $484,344,000 after buying an additional 260,746 shares during the period. Institutional investors own 74.03% of the company’s stock.

Canadian Natural Resources Stock Up 0.2%

Shares of CNQ stock opened at $43.98 on Tuesday. The firm has a fifty day moving average of $44.07 and a 200-day moving average of $42.93. The company has a quick ratio of 0.68, a current ratio of 0.98 and a debt-to-equity ratio of 0.37. Canadian Natural Resources Limited has a 12-month low of $29.30 and a 12-month high of $51.34. The company has a market capitalization of $91.29 billion, a price-to-earnings ratio of 13.13 and a beta of 0.47.

Canadian Natural Resources (NYSE:CNQ) (TSE:CNQ) last released its earnings results on Thursday, May 7th. The oil and gas producer reported $0.85 EPS for the quarter, beating the consensus estimate of $0.74 by $0.11. The firm 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 quarter in the previous year, the business posted $1.16 EPS. As a group, equities research analysts predict that Canadian Natural Resources Limited will post 4.2 earnings per share for the current fiscal year.

Canadian Natural Resources Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, July 7th. Investors 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 annualized dividend and a yield of 5.7%. Canadian Natural Resources’s dividend payout ratio is presently 54.03%.

Wall Street Analyst Weigh In

A number of analysts have commented on the stock. Zacks Research lowered shares of Canadian Natural Resources from a “strong-buy” rating to a “hold” rating in a report on Monday, June 8th. Desjardins upgraded Canadian Natural Resources to a “hold” rating in a research report on Thursday, July 16th. Raymond James Financial raised Canadian Natural Resources from a “market perform” rating to an “outperform” rating in a research note on Thursday, May 7th. Scotiabank upgraded Canadian Natural Resources to a “hold” rating in a report on Friday, June 26th. Finally, Weiss Ratings lowered Canadian Natural Resources from a “buy (b)” rating to a “buy (b-)” rating in a research note on Monday, May 11th. Six equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $57.00.

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.