Bank of New York Mellon Corp Reduces Holdings in Canadian Natural Resources Limited $CNQ

Bank of New York Mellon Corp reduced its position in Canadian Natural Resources Limited (NYSE:CNQ - Free Report) TSE: CNQ by 17.3% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 3,227,229 shares of the oil and gas producer's stock after selling 675,053 shares during the period. Bank of New York Mellon Corp owned 0.16% of Canadian Natural Resources worth $109,242,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. SCP Investment LP raised its position in Canadian Natural Resources by 7.3% in the 4th quarter. SCP Investment LP now owns 38,400 shares of the oil and gas producer's stock valued at $1,300,000 after purchasing an additional 2,600 shares during the last quarter. Dynasty Wealth Management LLC grew its position in Canadian Natural Resources by 8.2% during the 4th quarter. Dynasty Wealth Management LLC now owns 34,343 shares of the oil and gas producer's stock worth $1,162,000 after purchasing an additional 2,605 shares during the last quarter. One Capital Management LLC purchased a new position in Canadian Natural Resources during the 4th quarter worth $1,050,000. FDx Advisors Inc. increased its stake in Canadian Natural Resources by 2.7% in the fourth quarter. FDx Advisors Inc. now owns 10,312 shares of the oil and gas producer's stock valued at $349,000 after purchasing an additional 270 shares during the period. Finally, Verity & Verity LLC increased its stake in Canadian Natural Resources by 5.8% in the fourth quarter. Verity & Verity LLC now owns 540,570 shares of the oil and gas producer's stock valued at $18,298,000 after purchasing an additional 29,406 shares during the period. 74.03% of the stock is owned by institutional investors and hedge funds.

Canadian Natural Resources Price Performance

Shares of CNQ opened at $45.74 on Monday. 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 stock's 50 day moving average is $46.78 and its two-hundred day moving average is $41.01. Canadian Natural Resources Limited has a twelve month low of $29.30 and a twelve month high of $51.34. The firm has a market capitalization of $95.20 billion, a PE ratio of 13.65 and a beta of 0.45.

Canadian Natural Resources (NYSE:CNQ - Get Free Report) TSE: CNQ last posted its quarterly earnings results 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. Canadian Natural Resources had a return on equity of 17.49% and a net margin of 22.04%.The business had revenue of $7.72 billion during the quarter, compared to analysts' expectations of $7.57 billion. During the same period last year, the firm earned $1.16 EPS. Research analysts anticipate that Canadian Natural Resources Limited will post 4.2 earnings per share for the current year.

Canadian Natural Resources Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 7th. Shareholders 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 dividend yield of 5.5%. The ex-dividend date is Tuesday, June 23rd. Canadian Natural Resources's payout ratio is presently 54.63%.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on CNQ. Raymond James Financial upgraded shares of Canadian Natural Resources from a "market perform" rating to an "outperform" rating in a research note on Thursday, May 7th. Royal Bank Of Canada boosted their price target on Canadian Natural Resources from $61.00 to $65.00 and gave the company an "outperform" rating in a research report on Friday, March 6th. ATB Cormark Capital Markets downgraded Canadian Natural Resources from a "strong-buy" rating to a "moderate buy" rating in a research note on Thursday, March 5th. Zacks Research upgraded Canadian Natural Resources from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, May 5th. Finally, Weiss Ratings lowered Canadian Natural Resources from a "buy (b)" rating to a "buy (b-)" rating in a report on Monday, May 11th. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target 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.

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