Dividend Assets Capital LLC Has $14.55 Million Stock Position in Canadian Natural Resources Limited $CNQ

Dividend Assets Capital LLC lowered its holdings in Canadian Natural Resources Limited (NYSE:CNQ) (TSE:CNQ) by 32.1% in the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 298,546 shares of the oil and gas producer’s stock after selling 141,194 shares during the quarter. Canadian Natural Resources makes up about 2.9% of Dividend Assets Capital LLC’s investment portfolio, making the stock its 4th largest holding. Dividend Assets Capital LLC’s holdings in Canadian Natural Resources were worth $14,548,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Capital Research Global Investors increased 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 buying an additional 35,067,143 shares during the period. Massachusetts Financial Services Co. MA lifted its stake in Canadian Natural Resources by 179.2% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 11,616,347 shares of the oil and gas producer’s stock worth $393,213,000 after acquiring an additional 7,455,286 shares during the period. AQR Capital Management LLC boosted its holdings in 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 valued at $124,672,000 after acquiring an additional 3,647,636 shares in the last quarter. BCV Asset Management Inc. bought a new stake in Canadian Natural Resources in the fourth quarter valued at $84,309,000. Finally, Purpose Unlimited Inc. bought a new stake in Canadian Natural Resources in the fourth quarter valued at $73,628,000. 74.03% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several brokerages have commented on CNQ. Zacks Research lowered shares of Canadian Natural Resources from a “strong-buy” rating to a “hold” rating in a report on Monday, June 8th. Weiss Ratings lowered shares of 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 shares of Canadian Natural Resources from a “market perform” rating to an “outperform” rating in a research report on Thursday, May 7th. The Goldman Sachs Group increased their price target on shares of Canadian Natural Resources from $37.00 to $49.00 and gave the stock a “buy” rating in a research note on Thursday, March 12th. Finally, Scotiabank upgraded shares of Canadian Natural Resources to a “hold” rating in a report on Friday, June 26th. Six research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. Based on data from MarketBeat.com, Canadian Natural Resources currently has a consensus rating of “Moderate Buy” and an average target price of $57.00.

Canadian Natural Resources Price Performance

Shares of CNQ stock opened at $39.63 on Monday. The stock has a market cap of $82.27 billion, a price-to-earnings ratio of 11.83 and a beta of 0.47. The business’s fifty day moving average is $44.85 and its 200 day moving average is $42.17. Canadian Natural Resources Limited has a twelve month low of $29.30 and a twelve month high of $51.34. 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 (NYSE:CNQ) (TSE:CNQ) last announced its quarterly earnings data 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 business had revenue of $7.72 billion during the quarter, compared to analyst estimates 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 last year, the firm posted $1.16 earnings per share. Research analysts expect that Canadian Natural Resources Limited will post 4.2 EPS for the current fiscal year.

Canadian Natural Resources Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 7th. Investors of record on Tuesday, June 23rd will be paid a $0.625 dividend. This represents a $2.50 annualized dividend and a dividend yield of 6.3%. The ex-dividend date is Tuesday, June 23rd. Canadian Natural Resources’s dividend payout ratio (DPR) is presently 54.03%.

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.