BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp Cuts Stock Holdings in Canadian Natural Resources Limited (NYSE:CNQ)

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp trimmed its holdings in Canadian Natural Resources Limited (NYSE:CNQ - Free Report) TSE: CNQ by 62.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,959,962 shares of the oil and gas producer's stock after selling 4,874,302 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp owned 0.14% of Canadian Natural Resources worth $91,269,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also made changes to their positions in CNQ. USS Investment Management Ltd bought a new stake in Canadian Natural Resources during the fourth quarter worth $6,609,000. Vident Advisory LLC raised its holdings in shares of Canadian Natural Resources by 17.6% during the 4th quarter. Vident Advisory LLC now owns 22,078 shares of the oil and gas producer's stock worth $681,000 after buying an additional 3,303 shares in the last quarter. Tidal Investments LLC lifted its position in shares of Canadian Natural Resources by 11.8% during the 4th quarter. Tidal Investments LLC now owns 29,985 shares of the oil and gas producer's stock worth $926,000 after buying an additional 3,153 shares during the last quarter. Recurrent Investment Advisors LLC bought a new stake in shares of Canadian Natural Resources during the 4th quarter worth $1,822,000. Finally, Quantinno Capital Management LP boosted its stake in Canadian Natural Resources by 0.8% in the fourth quarter. Quantinno Capital Management LP now owns 238,719 shares of the oil and gas producer's stock valued at $7,369,000 after buying an additional 1,872 shares in the last quarter. 74.03% of the stock is currently owned by institutional investors.

Canadian Natural Resources Trading Up 0.7%

CNQ traded up $0.20 during trading on Monday, reaching $31.02. 3,855,932 shares of the company's stock were exchanged, compared to its average volume of 5,542,457. The company has a current ratio of 0.84, a quick ratio of 0.53 and a debt-to-equity ratio of 0.21. Canadian Natural Resources Limited has a one year low of $24.65 and a one year high of $38.86. The firm has a fifty day moving average price of $29.44 and a two-hundred day moving average price of $30.54. The stock has a market capitalization of $64.98 billion, a PE ratio of 12.05 and a beta of 1.04.

Canadian Natural Resources (NYSE:CNQ - Get Free Report) TSE: CNQ last issued its quarterly earnings data on Thursday, May 8th. The oil and gas producer reported $0.81 earnings per share for the quarter, topping the consensus estimate of $0.73 by $0.08. The company had revenue of $6.96 billion for 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 quarter in the previous year, the firm posted $1.37 earnings per share. As a group, equities research analysts forecast that Canadian Natural Resources Limited will post 2.45 earnings per share for the current fiscal 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 dividend of $0.4227 per share. The ex-dividend date of this dividend is Friday, June 13th. This is a positive change from Canadian Natural Resources's previous quarterly dividend of $0.41. This represents a $1.69 annualized dividend and a yield of 5.45%. Canadian Natural Resources's dividend payout ratio is currently 63.92%.

Analyst Ratings Changes

Several equities analysts recently commented on the stock. Evercore ISI raised shares of Canadian Natural Resources from an "in-line" rating to an "outperform" rating in a research note on Friday, March 7th. Royal Bank of Canada reiterated an "outperform" rating and issued a $63.00 price target on shares of Canadian Natural Resources in a research note on Thursday, March 27th. Scotiabank raised Canadian Natural Resources from a "sector perform" rating to a "sector outperform" rating in a report on Wednesday, March 19th. Tudor Pickering lowered Canadian Natural Resources from a "strong-buy" rating to a "hold" rating in a research report on Monday, February 10th. Finally, Raymond James raised Canadian Natural Resources from a "market perform" rating to an "outperform" rating in a report on Wednesday, April 9th. Three analysts have rated the stock with a hold rating and four have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $63.00.

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).