Canadian Natural Resources Limited (NYSE:CNQ) Holdings Reduced by Envestnet Portfolio Solutions Inc.

Envestnet Portfolio Solutions Inc. lessened its holdings in shares of Canadian Natural Resources Limited (NYSE:CNQ - Free Report) TSE: CNQ by 70.1% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 9,090 shares of the oil and gas producer's stock after selling 21,279 shares during the period. Envestnet Portfolio Solutions Inc.'s holdings in Canadian Natural Resources were worth $280,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. FMR LLC lifted its position in Canadian Natural Resources by 8.7% in the fourth quarter. FMR LLC now owns 92,550,104 shares of the oil and gas producer's stock worth $2,857,337,000 after purchasing an additional 7,372,718 shares during the period. Connor Clark & Lunn Investment Management Ltd. increased its position in shares of Canadian Natural Resources by 31.6% during the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 13,433,797 shares of the oil and gas producer's stock valued at $414,223,000 after purchasing an additional 3,224,548 shares during the period. Geode Capital Management LLC raised its stake in shares of Canadian Natural Resources by 30.1% in the 4th quarter. Geode Capital Management LLC now owns 12,708,163 shares of the oil and gas producer's stock worth $400,222,000 after buying an additional 2,939,866 shares in the last quarter. T. Rowe Price Investment Management Inc. lifted its holdings in shares of Canadian Natural Resources by 7.3% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 34,052,775 shares of the oil and gas producer's stock valued at $1,051,210,000 after buying an additional 2,312,437 shares during the period. Finally, Canada Pension Plan Investment Board boosted its stake in Canadian Natural Resources by 5.3% during the fourth quarter. Canada Pension Plan Investment Board now owns 36,963,702 shares of the oil and gas producer's stock valued at $1,139,753,000 after buying an additional 1,844,700 shares in the last quarter. Institutional investors own 74.03% of the company's stock.

Analysts Set New Price Targets

Several analysts recently commented on the stock. Raymond James Financial raised shares of Canadian Natural Resources from a "market perform" rating to an "outperform" rating in a research note on Wednesday, April 9th. Evercore ISI upgraded Canadian Natural Resources from an "in-line" rating to an "outperform" rating in a report on Friday, March 7th. Royal Bank Of Canada reaffirmed an "outperform" rating and set a $63.00 target price on shares of Canadian Natural Resources in a research report on Thursday, March 27th. Finally, Scotiabank upgraded Canadian Natural Resources from a "sector perform" rating to a "sector outperform" rating in a research report on Wednesday, March 19th. Three equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $63.00.

Canadian Natural Resources Trading Down 1.5%

Shares of Canadian Natural Resources stock opened at $31.45 on Monday. The stock has a market capitalization of $65.78 billion, a P/E ratio of 12.33 and a beta of 1.03. Canadian Natural Resources Limited has a 12-month low of $24.65 and a 12-month high of $37.91. The company has a quick ratio of 0.53, a current ratio of 0.84 and a debt-to-equity ratio of 0.40. The company has a 50-day simple moving average of $30.94 and a 200 day simple moving average of $30.29.

Canadian Natural Resources (NYSE:CNQ - Get Free Report) TSE: CNQ last issued its quarterly earnings results on Thursday, May 8th. The oil and gas producer reported $0.81 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.73 by $0.08. The business had revenue of $6.96 billion for the quarter, compared to the consensus estimate of $10.14 billion. Canadian Natural Resources had a net margin of 16.92% and a return on equity of 20.90%. During the same quarter in the prior year, the company earned $1.37 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 firm also recently declared a quarterly dividend, which will be paid on Thursday, July 3rd. Investors of record on Friday, June 13th will be paid a dividend of $0.4227 per share. This represents a $1.69 dividend on an annualized basis and a dividend yield of 5.38%. This is an increase from Canadian Natural Resources's previous quarterly dividend of $0.41. The ex-dividend date of this dividend is Friday, June 13th. Canadian Natural Resources's payout ratio is 67.06%.

Canadian Natural Resources Company 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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