Alberta Investment Management Corp Has $68.61 Million Stock Position in Canadian Natural Resources Limited $CNQ

Alberta Investment Management Corp cut its holdings in shares of Canadian Natural Resources Limited (NYSE:CNQ) (TSE:CNQ) by 21.3% in the 4th quarter, Holdings Channel reports. The firm owned 2,025,500 shares of the oil and gas producer’s stock after selling 547,300 shares during the period. Alberta Investment Management Corp’s holdings in Canadian Natural Resources were worth $68,608,000 at the end of the most recent reporting period.

A number of other large investors have also recently modified their holdings of the business. Manchester Capital Management LLC bought a new position in Canadian Natural Resources in the fourth quarter valued at about $28,000. Leonteq Securities AG bought a new position in shares of Canadian Natural Resources in the fourth quarter worth about $31,000. GoalVest Advisory LLC bought a new position in shares of Canadian Natural Resources in the fourth quarter worth about $32,000. Quarry LP acquired a new stake in shares of Canadian Natural Resources in the 3rd quarter valued at approximately $32,000. Finally, LOM Asset Management Ltd acquired a new stake in shares of Canadian Natural Resources in the 4th quarter valued at approximately $34,000. Institutional investors and hedge funds own 74.03% of the company’s stock.

Canadian Natural Resources Stock Down 3.4%

Shares of CNQ opened at $40.97 on Friday. The company has a market capitalization of $85.27 billion, a PE ratio of 12.23 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 stock’s 50-day moving average price is $46.02 and its two-hundred day moving average price is $41.69. The company has a current ratio of 0.98, a quick ratio of 0.68 and a debt-to-equity ratio of 0.37.

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

Canadian Natural Resources Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 7th. Shareholders of record on Tuesday, June 23rd will be given 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 6.1%. Canadian Natural Resources’s dividend payout ratio is 54.63%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the stock. The Goldman Sachs Group lifted 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. Royal Bank Of Canada increased their price objective on shares of Canadian Natural Resources from $61.00 to $65.00 and gave the company an “outperform” rating in a research note on Friday, March 6th. Scotiabank restated an “outperform” rating on shares of Canadian Natural Resources in a research report on Wednesday, May 20th. ATB Cormark Capital Markets cut shares of Canadian Natural Resources from a “strong-buy” rating to a “moderate buy” rating in a research note on Thursday, March 5th. Finally, Zacks Research downgraded shares of Canadian Natural Resources from a “strong-buy” rating to a “hold” rating in a report on Monday, June 8th. Seven equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average 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.