Canadian Natural Resources Limited $CNQ Shares Sold by UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC

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 lessened its position in shares of Canadian Natural Resources Limited (NYSE:CNQ - Free Report) TSE: CNQ by 2.0% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund 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 at the end of the most recent reporting period.

Other institutional investors have also recently modified their holdings of the company. Brandywine Global Investment Management LLC grew its position in Canadian Natural Resources by 27.5% during the 1st quarter. Brandywine Global Investment Management LLC now owns 2,183,598 shares of the oil and gas producer's stock worth $67,201,000 after purchasing an additional 470,391 shares during the period. Sei Investments Co. boosted its stake in shares of Canadian Natural Resources by 41.9% in the first quarter. Sei Investments Co. now owns 49,307 shares of the oil and gas producer's stock worth $1,519,000 after buying an additional 14,561 shares during the last quarter. Baird Financial Group Inc. grew its holdings in Canadian Natural Resources by 594.8% during the first quarter. Baird Financial Group Inc. now owns 133,501 shares of the oil and gas producer's stock worth $4,112,000 after acquiring an additional 114,287 shares during the period. Graybill Wealth Management LTD. purchased a new position in Canadian Natural Resources during the first quarter valued at approximately $3,697,000. Finally, Janney Montgomery Scott LLC acquired a new position in Canadian Natural Resources in the first quarter valued at approximately $757,000. 74.03% of the stock is currently owned by hedge funds and other institutional investors.

Canadian Natural Resources Stock Up 2.7%

CNQ stock opened at $32.04 on Tuesday. The stock has a market cap of $66.87 billion, a P/E ratio of 11.36 and a beta of 1.03. The company has a current ratio of 0.85, a quick ratio of 0.54 and a debt-to-equity ratio of 0.38. Canadian Natural Resources Limited has a twelve month low of $24.65 and a twelve month high of $37.91. The company's 50 day moving average is $31.04 and its two-hundred day moving average is $30.46.

Canadian Natural Resources (NYSE:CNQ - Get Free Report) TSE: CNQ last announced its earnings results on Thursday, August 7th. The oil and gas producer reported $0.51 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.44 by $0.07. The firm had revenue of $6.39 billion during the quarter, compared to analysts' expectations 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 in the prior year, the firm earned $0.88 EPS. Research analysts expect that Canadian Natural Resources Limited will post 2.45 earnings per share for the current fiscal year.

Canadian Natural Resources Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, October 3rd. Investors of record on Friday, September 19th will be issued a $0.4269 dividend. The ex-dividend date is Friday, September 19th. This represents a $1.71 dividend on an annualized basis and a dividend yield of 5.3%. This is an increase from Canadian Natural Resources's previous quarterly dividend of $0.42. Canadian Natural Resources's payout ratio is currently 60.64%.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on CNQ shares. National Bankshares reaffirmed a "sector perform" rating on shares of Canadian Natural Resources in a report on Thursday, July 17th. Scotiabank reissued an "outperform" rating on shares of Canadian Natural Resources in a report on Friday, July 11th. Royal Bank Of Canada reduced their target price on Canadian Natural Resources from $64.00 to $62.00 and set an "outperform" rating for the company in a research note on Friday, August 8th. Raymond James Financial reiterated an "outperform" rating on shares of Canadian Natural Resources in a research report on Friday, August 8th. Finally, Zacks Research raised shares of Canadian Natural Resources from a "hold" rating to a "strong-buy" rating in a report on Tuesday, August 26th. One equities research 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. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $62.00.

Canadian Natural Resources Profile

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).

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