Cary Street Partners Financial LLC Reduces Stake in Canadian Natural Resources Limited (NYSE:CNQ)

Cary Street Partners Financial LLC cut its stake in Canadian Natural Resources Limited (NYSE:CNQ - Free Report) TSE: CNQ by 77.2% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,700 shares of the oil and gas producer's stock after selling 9,162 shares during the quarter. Cary Street Partners Financial LLC's holdings in Canadian Natural Resources were worth $83,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Graybill Wealth Management LTD. bought a new stake in shares of Canadian Natural Resources during the first quarter worth $3,697,000. Janney Montgomery Scott LLC purchased a new position in shares of Canadian Natural Resources during the first quarter valued at $757,000. PKO Investment Management Joint Stock Co purchased a new position in shares of Canadian Natural Resources during the fourth quarter valued at $2,452,000. Baskin Financial Services Inc. increased its stake in shares of Canadian Natural Resources by 0.9% during the first quarter. Baskin Financial Services Inc. now owns 1,005,012 shares of the oil and gas producer's stock valued at $30,921,000 after buying an additional 8,861 shares during the period. Finally, Institute for Wealth Management LLC. purchased a new position in shares of Canadian Natural Resources during the first quarter valued at $385,000. 74.03% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the company. Scotiabank restated an "outperform" rating on shares of Canadian Natural Resources in a research note on Friday, July 11th. Royal Bank Of Canada cut their price target on Canadian Natural Resources from $64.00 to $62.00 and set an "outperform" rating on the stock in a research note on Friday, August 8th. Raymond James Financial restated an "outperform" rating on shares of Canadian Natural Resources in a research note on Friday, August 8th. Finally, National Bankshares reiterated a "sector perform" rating on shares of Canadian Natural Resources in a research note on Thursday, July 17th. Three research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, Canadian Natural Resources presently has a consensus rating of "Moderate Buy" and a consensus price target of $62.00.

Canadian Natural Resources Stock Up 0.2%

Shares of NYSE:CNQ traded up $0.06 during trading on Friday, reaching $29.85. The stock had a trading volume of 542,673 shares, compared to its average volume of 6,432,006. 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 $62.37 billion, a P/E ratio of 10.58 and a beta of 1.05. 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 firm's 50-day simple moving average is $31.71 and its 200 day simple moving average is $30.34.

Canadian Natural Resources (NYSE:CNQ - Get Free Report) TSE: CNQ last released its quarterly earnings results on Thursday, August 7th. The oil and gas producer reported $0.51 earnings per share for the quarter, beating analysts' consensus estimates of $0.44 by $0.07. Canadian Natural Resources had a net margin of 19.00% and a return on equity of 19.67%. The business had revenue of $6.39 billion for the quarter, compared to analysts' expectations of $8.97 billion. During the same period last year, the business earned $0.88 EPS. As a group, research analysts expect that Canadian Natural Resources Limited will post 2.45 EPS for the current fiscal year.

Canadian Natural Resources Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 3rd. Investors of record on Friday, September 19th will be given a $0.4269 dividend. This represents a $1.71 annualized dividend and a dividend yield of 5.7%. 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. Canadian Natural Resources's payout ratio is 60.64%.

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).