Corient Private Wealth LLC Sells 27,675 Shares of Canadian Natural Resources Limited $CNQ

Corient Private Wealth LLC lowered its position in shares of Canadian Natural Resources Limited (NYSE:CNQ) (TSE:CNQ) by 5.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 444,451 shares of the oil and gas producer’s stock after selling 27,675 shares during the period. Corient Private Wealth LLC’s holdings in Canadian Natural Resources were worth $15,045,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of CNQ. Capital Research Global Investors boosted its holdings in Canadian Natural Resources by 31.5% in the 4th 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 purchasing an additional 35,067,143 shares during the period. Massachusetts Financial Services Co. MA grew its position in shares of Canadian Natural Resources by 179.2% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 11,616,347 shares of the oil and gas producer’s stock valued at $393,213,000 after purchasing an additional 7,455,286 shares in the last quarter. AQR Capital Management LLC increased its holdings in shares of Canadian Natural Resources by 11,020.4% in the fourth quarter. AQR Capital Management LLC now owns 3,680,735 shares of the oil and gas producer’s stock worth $124,672,000 after purchasing an additional 3,647,636 shares during the period. BCV Asset Management Inc. bought a new position in shares of Canadian Natural Resources in the fourth quarter worth $84,309,000. Finally, Alberta Investment Management Corp purchased a new stake in shares of Canadian Natural Resources in the fourth quarter worth $68,608,000. Institutional investors own 74.03% of the company’s stock.

Canadian Natural Resources Stock Performance

Canadian Natural Resources stock opened at $41.00 on Wednesday. The firm’s fifty day moving average price is $45.73 and its 200-day moving average price is $41.84. 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 stock has a market cap of $85.10 billion, a P/E ratio of 12.24 and a beta of 0.45. Canadian Natural Resources Limited has a fifty-two week low of $29.30 and a fifty-two week high of $51.34.

Canadian Natural Resources (NYSE:CNQ) (TSE:CNQ) last announced its 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 company 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 period in the previous year, the business earned $1.16 earnings per share. On average, equities research analysts expect that Canadian Natural Resources Limited will post 4.2 earnings per share for the current fiscal 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 paid a dividend of $0.625 per share. The ex-dividend date of this dividend is Tuesday, June 23rd. This represents a $2.50 annualized dividend and a yield of 6.1%. Canadian Natural Resources’s payout ratio is 54.63%.

Analyst Ratings Changes

Several equities 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 research note on Monday, May 11th. Raymond James Financial upgraded Canadian Natural Resources from a “market perform” rating to an “outperform” rating in a research note on Thursday, May 7th. 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. Zacks Research downgraded Canadian Natural Resources from a “strong-buy” rating to a “hold” rating in a research report on Monday, June 8th. Finally, Scotiabank reiterated an “outperform” rating on shares of Canadian Natural Resources in a research report on Wednesday, May 20th. Seven investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target 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.