UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC Trims Stake in Canadian Natural Resources Limited $CNQ

Key Points

• UBS Asset Management reduced its stake in Canadian Natural Resources Limited by 2.0%, owning 1,125,650 shares valued at approximately $34.67 million after selling 22,585 shares in the first quarter.
• Canadian Natural Resources recently announced an increase in its quarterly dividend to $0.4269 per share, representing an annualized dividend yield of 5.3%.
• The company reported earnings of $0.51 per share for the last quarter, exceeding analysts' expectations, although revenues were below forecasts, totaling $6.39 billion.

UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC cut its position in shares of Canadian Natural Resources Limited (NYSE:CNQ - Free Report) TSE: CNQ by 2.0% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 1,125,650 shares of the oil and gas producer's stock after selling 22,585 shares during the quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC owned 0.05% of Canadian Natural Resources worth $34,670,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in CNQ. Yaupon Capital Management LP acquired a new position in shares of Canadian Natural Resources in the 1st quarter valued at about $43,185,000. American Trust raised its position in Canadian Natural Resources by 29.3% during the first quarter. American Trust now owns 81,807 shares of the oil and gas producer's stock valued at $2,520,000 after purchasing an additional 18,532 shares in the last quarter. Empowered Funds LLC grew its stake in shares of Canadian Natural Resources by 4.3% in the first quarter. Empowered Funds LLC now owns 79,374 shares of the oil and gas producer's stock worth $2,445,000 after purchasing an additional 3,266 shares during the last quarter. Challenger Wealth Management bought a new stake in Canadian Natural Resources during the 1st quarter valued at approximately $439,000. Finally, Ashton Thomas Private Wealth LLC lifted its position in Canadian Natural Resources by 2.3% in the 1st quarter. Ashton Thomas Private Wealth LLC now owns 46,743 shares of the oil and gas producer's stock valued at $1,466,000 after acquiring an additional 1,035 shares in the last quarter. Institutional investors own 74.03% of the company's stock.

Analyst Ratings Changes

Several brokerages have issued reports on CNQ. Zacks Research raised shares of Canadian Natural Resources from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, August 26th. Scotiabank reaffirmed an "outperform" rating on shares of Canadian Natural Resources in a research note on Friday, July 11th. Raymond James Financial restated an "outperform" rating on shares of Canadian Natural Resources in a report on Friday, August 8th. Royal Bank Of Canada reduced their price objective on shares of Canadian Natural Resources from $64.00 to $62.00 and set an "outperform" rating on the stock in a report on Friday, August 8th. Finally, National Bankshares reaffirmed a "sector perform" rating on shares of Canadian Natural Resources in a report on Thursday, July 17th. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and two have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, Canadian Natural Resources has an average rating of "Moderate Buy" and a consensus price target of $62.00.

Canadian Natural Resources Stock Down 2.8%

Shares of Canadian Natural Resources stock traded down $0.92 on Friday, reaching $31.61. 6,934,496 shares of the company were exchanged, compared to its average volume of 7,262,577. The company has a current ratio of 0.85, a quick ratio of 0.54 and a debt-to-equity ratio of 0.38. The company has a 50-day moving average of $31.07 and a 200 day moving average of $30.57. Canadian Natural Resources Limited has a one year low of $24.65 and a one year high of $37.91. The company has a market capitalization of $65.97 billion, a price-to-earnings ratio of 11.21 and a beta of 1.03.

Canadian Natural Resources (NYSE:CNQ - Get Free Report) TSE: CNQ last issued its quarterly earnings data on Thursday, August 7th. The oil and gas producer reported $0.51 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.44 by $0.07. The company had revenue of $6.39 billion during the quarter, compared to the consensus estimate of $8.97 billion. Canadian Natural Resources had a return on equity of 19.67% and a net margin of 19.00%.During the same period last year, the company earned $0.88 earnings per share. On average, equities research analysts forecast 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 disclosed a quarterly dividend, which will be paid on Friday, October 3rd. Shareholders of record on Friday, September 19th will be paid a dividend of $0.4269 per share. The ex-dividend date of this dividend is Friday, September 19th. This is an increase from Canadian Natural Resources's previous quarterly dividend of $0.42. This represents a $1.71 annualized dividend and a yield of 5.4%. Canadian Natural Resources's payout ratio is presently 60.64%.

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).