Canadian Natural Resources Limited $CNQ is JTC Employer Solutions Trustee Ltd’s 6th Largest Position

JTC Employer Solutions Trustee Ltd lowered its position in shares of Canadian Natural Resources Limited (NYSE:CNQ) (TSE:CNQ) by 12.6% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 537,646 shares of the oil and gas producer’s stock after selling 77,389 shares during the quarter. Canadian Natural Resources accounts for about 2.2% of JTC Employer Solutions Trustee Ltd’s investment portfolio, making the stock its 6th largest position. JTC Employer Solutions Trustee Ltd’s holdings in Canadian Natural Resources were worth $26,124,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the business. Amundi grew its stake in Canadian Natural Resources by 2.8% during the first quarter. Amundi now owns 7,994,427 shares of the oil and gas producer’s stock valued at $389,568,000 after acquiring an additional 217,437 shares in the last quarter. EverSource Wealth Advisors LLC lifted its stake in Canadian Natural Resources by 13.3% in the 1st quarter. EverSource Wealth Advisors LLC now owns 6,673 shares of the oil and gas producer’s stock worth $325,000 after purchasing an additional 784 shares in the last quarter. Maverick Capital Ltd. bought a new position in shares of Canadian Natural Resources during the 1st quarter valued at about $2,246,000. Quantinno Capital Management LP grew its position in shares of Canadian Natural Resources by 13.2% during the first quarter. Quantinno Capital Management LP now owns 378,046 shares of the oil and gas producer’s stock valued at $18,422,000 after purchasing an additional 44,000 shares in the last quarter. Finally, Quadcap Wealth Management LLC bought a new stake in shares of Canadian Natural Resources in the first quarter worth about $218,000. Institutional investors own 74.03% of the company’s stock.

Canadian Natural Resources Trading Up 5.2%

Shares of NYSE CNQ opened at $46.49 on Thursday. The company has a quick ratio of 0.68, a current ratio of 0.98 and a debt-to-equity ratio of 0.37. The firm has a market cap of $96.50 billion, a PE ratio of 13.88 and a beta of 0.47. The business has a fifty day simple moving average of $43.73 and a two-hundred day simple moving average of $43.58. Canadian Natural Resources Limited has a twelve month low of $29.30 and a twelve month high of $51.34.

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 for the quarter, topping the consensus estimate 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 firm had revenue of $7.72 billion during the quarter, compared to analysts’ expectations of $7.57 billion. During the same quarter in the prior year, the company earned $1.16 EPS. Analysts expect that Canadian Natural Resources Limited will post 3.89 earnings per share for the current fiscal year.

Canadian Natural Resources Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, July 7th. Stockholders of record on Tuesday, June 23rd were issued a $0.625 dividend. This represents a $2.50 dividend on an annualized basis and a dividend yield of 5.4%. The ex-dividend date was Tuesday, June 23rd. Canadian Natural Resources’s dividend payout ratio (DPR) is currently 54.03%.

Analysts Set New Price Targets

Several analysts have recently issued reports on CNQ shares. Zacks Research raised Canadian Natural Resources from a “hold” rating to a “strong-buy” rating in a report on Tuesday, July 21st. Weiss Ratings downgraded 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. Desjardins upgraded shares of Canadian Natural Resources to a “hold” rating in a report on Thursday, July 16th. Finally, Scotiabank upgraded Canadian Natural Resources to a “hold” rating in a research report on Friday, June 26th. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat.com, Canadian Natural Resources presently has an average rating of “Moderate Buy” and a consensus target price of $57.00.

Canadian Natural Resources 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.