Mufg Securities Canada LTD. Lowers Holdings in Canadian Natural Resources Limited $CNQ

Mufg Securities Canada LTD. cut its position in Canadian Natural Resources Limited (NYSE:CNQ) (TSE:CNQ) by 8.2% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,171,955 shares of the oil and gas producer’s stock after selling 284,974 shares during the quarter. Canadian Natural Resources comprises 3.0% of Mufg Securities Canada LTD.’s investment portfolio, making the stock its 12th biggest position. Mufg Securities Canada LTD. owned about 0.15% of Canadian Natural Resources worth $107,462,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Manchester Capital Management LLC purchased a new position in Canadian Natural Resources in the 4th quarter worth $28,000. Leonteq Securities AG purchased a new position in Canadian Natural Resources in the 4th quarter worth $31,000. GoalVest Advisory LLC bought a new stake in Canadian Natural Resources in the 4th quarter worth $32,000. Quarry LP bought a new stake in Canadian Natural Resources in the 3rd quarter worth $32,000. Finally, LOM Asset Management Ltd bought a new stake in Canadian Natural Resources in the 4th quarter worth $34,000. 74.03% of the stock is currently owned by hedge funds and other institutional investors.

Canadian Natural Resources Stock Performance

Shares of NYSE CNQ opened at $45.32 on Monday. The firm has a 50 day moving average of $46.46 and a 200 day moving average of $41.43. The company has a current ratio of 0.98, a quick ratio of 0.68 and a debt-to-equity ratio of 0.37. The firm has a market capitalization of $94.33 billion, a price-to-earnings ratio of 13.53 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.

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, beating 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 posted $1.16 earnings per share. On average, research analysts anticipate that Canadian Natural Resources Limited will post 4.2 earnings per share for the current year.

Canadian Natural Resources Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 7th. Investors of record on Tuesday, June 23rd will be given a dividend of $0.625 per share. This represents a $2.50 annualized dividend and a yield of 5.5%. The ex-dividend date is Tuesday, June 23rd. Canadian Natural Resources’s payout ratio is 54.03%.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on CNQ shares. Scotiabank reissued an “outperform” rating on shares of Canadian Natural Resources in a report on Wednesday, May 20th. Royal Bank Of Canada raised their price target on shares of Canadian Natural Resources from $61.00 to $65.00 and gave the stock an “outperform” rating in a report on Friday, March 6th. Zacks Research lowered shares of Canadian Natural Resources from a “strong-buy” rating to a “hold” rating in a report on Monday, June 8th. The Goldman Sachs Group raised their price target on shares of Canadian Natural Resources from $37.00 to $49.00 and gave the stock a “buy” rating in a report on Thursday, March 12th. Finally, Weiss Ratings lowered shares of Canadian Natural Resources from a “buy (b)” rating to a “buy (b-)” rating in a report on Monday, May 11th. Seven research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $57.00.

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.