Canadian Natural Resources Limited (NYSE:CNQ) Shares Sold by Cresset Asset Management LLC

Cresset Asset Management LLC lessened its stake in Canadian Natural Resources Limited (NYSE:CNQ - Free Report) TSE: CNQ by 45.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 19,718 shares of the oil and gas producer's stock after selling 16,738 shares during the period. Cresset Asset Management LLC's holdings in Canadian Natural Resources were worth $615,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Duncker Streett & Co. Inc. bought a new position in Canadian Natural Resources during the 4th quarter worth about $25,000. Lee Danner & Bass Inc. bought a new position in Canadian Natural Resources during the 4th quarter worth about $25,000. Hurley Capital LLC bought a new position in Canadian Natural Resources during the 4th quarter worth about $31,000. Sandy Spring Bank bought a new position in Canadian Natural Resources during the 4th quarter worth about $31,000. Finally, CoreFirst Bank & Trust bought a new position in Canadian Natural Resources during the 4th quarter worth about $31,000. Hedge funds and other institutional investors own 74.03% of the company's stock.

Wall Street Analysts Forecast Growth

CNQ has been the topic of several recent research reports. Tudor Pickering cut shares of Canadian Natural Resources from a "strong-buy" rating to a "hold" rating in a report on Monday, February 10th. Scotiabank upgraded shares of Canadian Natural Resources from a "sector perform" rating to a "sector outperform" rating in a report on Wednesday, March 19th. Evercore ISI upgraded shares of Canadian Natural Resources from an "in-line" rating to an "outperform" rating in a report on Friday, March 7th. Royal Bank of Canada restated an "outperform" rating and issued a $63.00 price target on shares of Canadian Natural Resources in a report on Thursday, March 27th. Finally, Raymond James upgraded shares of Canadian Natural Resources from a "market perform" rating to an "outperform" rating in a report on Wednesday, April 9th. Three research analysts have rated the stock with a hold rating and four have given a buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $63.00.

Canadian Natural Resources Stock Performance

CNQ stock traded down $0.22 during trading on Friday, reaching $30.69. The company had a trading volume of 9,276,529 shares, compared to its average volume of 5,476,803. The firm has a 50-day simple moving average of $29.30 and a 200-day simple moving average of $30.72. The company has a market cap of $64.28 billion, a price-to-earnings ratio of 11.92 and a beta of 1.04. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.53 and a current ratio of 0.84. Canadian Natural Resources Limited has a twelve month low of $24.65 and a twelve month high of $38.86.

Canadian Natural Resources (NYSE:CNQ - Get Free Report) TSE: CNQ last released its earnings results on Thursday, May 8th. The oil and gas producer reported $0.81 EPS for the quarter, topping analysts' consensus estimates of $0.73 by $0.08. The company had revenue of $6.96 billion during the quarter, compared to analysts' expectations of $10.14 billion. Canadian Natural Resources had a net margin of 18.45% and a return on equity of 20.07%. During the same period last year, the business earned $1.37 EPS. As a group, sell-side analysts expect that Canadian Natural Resources Limited will post 2.45 earnings per share for the current year.

Canadian Natural Resources Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, July 3rd. Investors of record on Friday, June 13th will be paid a $0.4227 dividend. The ex-dividend date is Friday, June 13th. This is a boost from Canadian Natural Resources's previous quarterly dividend of $0.41. This represents a $1.69 dividend on an annualized basis and a yield of 5.51%. Canadian Natural Resources's dividend payout ratio (DPR) is 63.92%.

About Canadian Natural Resources

Canadian Natural Resources Limited acquires, explores for, develops, produces, markets, and sells crude oil, natural gas, and natural gas liquids (NGLs). The company offers light and medium crude oil, primary heavy crude oil, Pelican Lake heavy crude oil, bitumen (thermal oil), and synthetic crude oil (SCO).