Dimensional Fund Advisors LP Cuts Position in Canadian Natural Resources Limited $CNQ

Dimensional Fund Advisors LP decreased its holdings in shares of Canadian Natural Resources Limited (NYSE:CNQ) (TSE:CNQ) by 1.5% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 9,410,323 shares of the oil and gas producer’s stock after selling 145,144 shares during the period. Dimensional Fund Advisors LP owned 0.45% of Canadian Natural Resources worth $458,605,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in CNQ. Sunbelt Securities Inc. purchased a new stake in shares of Canadian Natural Resources in the 4th quarter worth approximately $25,000. Manchester Capital Management LLC purchased a new position in Canadian Natural Resources during the fourth quarter valued at $28,000. Leonteq Securities AG bought a new stake in Canadian Natural Resources in the fourth quarter worth $31,000. LOM Asset Management Ltd bought a new stake in Canadian Natural Resources in the fourth quarter worth $34,000. Finally, Quarry LP purchased a new stake in shares of Canadian Natural Resources in the third quarter worth $32,000. 74.03% of the stock is currently owned by hedge funds and other institutional investors.

Canadian Natural Resources Stock Performance

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

Canadian Natural Resources (NYSE:CNQ) (TSE:CNQ) last posted its earnings results on Thursday, May 7th. The oil and gas producer reported $0.85 earnings per share for the quarter, beating analysts’ consensus estimates of $0.74 by $0.11. The company had revenue of $7.72 billion for the quarter, compared to the consensus estimate 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 prior year, the company earned $1.16 earnings per share. As a group, sell-side analysts anticipate that Canadian Natural Resources Limited will post 4.2 EPS for the current year.

Canadian Natural Resources Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, July 7th. Stockholders of record on Tuesday, June 23rd were paid a $0.625 dividend. This represents a $2.50 annualized dividend and a dividend yield of 5.7%. The ex-dividend date was Tuesday, June 23rd. Canadian Natural Resources’s dividend payout ratio is 54.03%.

Analyst Ratings Changes

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

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.