Canadian Natural Resources Limited $CNQ Shares Sold by American Trust

American Trust cut its stake in Canadian Natural Resources Limited (NYSE:CNQ) (TSE:CNQ) by 18.5% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 69,228 shares of the oil and gas producer’s stock after selling 15,758 shares during the period. American Trust’s holdings in Canadian Natural Resources were worth $3,373,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Farrow Financial Inc. increased its position in shares of Canadian Natural Resources by 0.5% during the first quarter. Farrow Financial Inc. now owns 69,190 shares of the oil and gas producer’s stock worth $3,372,000 after purchasing an additional 330 shares in the last quarter. Candriam S.C.A. grew its stake in Canadian Natural Resources by 7.9% during the 1st quarter. Candriam S.C.A. now owns 25,574 shares of the oil and gas producer’s stock worth $1,244,000 after buying an additional 1,882 shares during the last quarter. Barnett & Company Inc. purchased a new position in Canadian Natural Resources during the 1st quarter worth approximately $906,000. Sequoia Financial Advisors LLC grew its stake in Canadian Natural Resources by 28.6% during the 1st quarter. Sequoia Financial Advisors LLC now owns 49,823 shares of the oil and gas producer’s stock worth $2,428,000 after buying an additional 11,094 shares during the last quarter. Finally, Equitable Trust Co. increased its position in Canadian Natural Resources by 2.2% during the first quarter. Equitable Trust Co. now owns 56,517 shares of the oil and gas producer’s stock worth $2,754,000 after buying an additional 1,237 shares during the period. Institutional investors and hedge funds own 74.03% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the company. Scotiabank raised Canadian Natural Resources to a “hold” rating in a report on Friday, June 26th. 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. 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. Finally, Zacks Research downgraded shares of Canadian Natural Resources from a “strong-buy” rating to a “hold” rating in a research report on Monday, June 8th. Six research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $57.00.

Canadian Natural Resources Stock Performance

Shares of CNQ stock traded down $0.13 during trading hours on Friday, reaching $41.75. 8,711,117 shares of the company’s stock were exchanged, compared to its average volume of 9,797,030. The company has a market cap of $86.67 billion, a P/E ratio of 12.46 and a beta of 0.47. Canadian Natural Resources Limited has a 1 year low of $29.30 and a 1 year high of $51.34. The company’s 50 day moving average is $44.40 and its two-hundred day moving average is $42.43. 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 (NYSE:CNQ) (TSE:CNQ) last announced its quarterly earnings results on Thursday, May 7th. The oil and gas producer reported $0.85 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.74 by $0.11. Canadian Natural Resources had a net margin of 22.04% and a return on equity of 17.49%. The business had revenue of $7.72 billion during the quarter, compared to the consensus estimate of $7.57 billion. During the same quarter last year, the firm posted $1.16 EPS. Equities research analysts anticipate that Canadian Natural Resources Limited will post 4.2 EPS for the current fiscal year.

Canadian Natural Resources Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, July 7th. Shareholders of record on Tuesday, June 23rd were issued a $0.625 dividend. The ex-dividend date of this dividend was Tuesday, June 23rd. This represents a $2.50 dividend on an annualized basis and a yield of 6.0%. Canadian Natural Resources’s dividend payout ratio (DPR) is 54.03%.

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.