Jackson Square Capital LLC Sells 25,321 Shares of Canadian Natural Resources Limited (NYSE:CNQ)

Jackson Square Capital LLC lowered its stake in shares of Canadian Natural Resources Limited (NYSE:CNQ - Free Report) TSE: CNQ by 70.3% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 10,721 shares of the oil and gas producer's stock after selling 25,321 shares during the quarter. Jackson Square Capital LLC's holdings in Canadian Natural Resources were worth $330,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in CNQ. Duncker Streett & Co. Inc. bought a new position in shares of Canadian Natural Resources in the 4th quarter valued at about $25,000. Lee Danner & Bass Inc. bought a new position in shares of Canadian Natural Resources during the 4th quarter valued at about $25,000. Sandy Spring Bank acquired a new position in shares of Canadian Natural Resources in the fourth quarter valued at approximately $31,000. CoreFirst Bank & Trust bought a new position in Canadian Natural Resources during the 4th quarter worth about $31,000. Finally, Hurley Capital LLC acquired a new stake in Canadian Natural Resources in the 4th quarter valued at approximately $31,000. Institutional investors and hedge funds own 74.03% of the company's stock.

Canadian Natural Resources Price Performance

CNQ traded up $0.68 on Tuesday, hitting $34.00. 7,728,313 shares of the stock were exchanged, compared to its average volume of 5,650,127. The firm has a market capitalization of $71.11 billion, a price-to-earnings ratio of 13.20 and a beta of 1.03. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.84 and a quick ratio of 0.53. Canadian Natural Resources Limited has a 12 month low of $24.65 and a 12 month high of $37.91. The business has a 50-day moving average of $30.08 and a two-hundred day moving average of $30.30.

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 for the quarter, topping analysts' consensus estimates of $0.73 by $0.08. The company had revenue of $6.96 billion during the quarter, compared to the consensus estimate 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 prior year, the firm posted $1.37 EPS. Sell-side analysts forecast that Canadian Natural Resources Limited will post 2.45 EPS 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. Stockholders of record on Friday, June 13th will be paid a $0.4227 dividend. This is a positive change from Canadian Natural Resources's previous quarterly dividend of $0.41. The ex-dividend date is Friday, June 13th. This represents a $1.69 annualized dividend and a dividend yield of 4.97%. Canadian Natural Resources's dividend payout ratio (DPR) is presently 67.06%.

Wall Street Analyst Weigh In

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

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).