Jackson Square Capital LLC Cuts Holdings in Canadian Natural Resources Limited (NYSE:CNQ)

Jackson Square Capital LLC reduced its position in Canadian Natural Resources Limited (NYSE:CNQ - Free Report) TSE: CNQ by 70.3% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm 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.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. FMR LLC raised its position in Canadian Natural Resources by 8.7% in the 4th 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. Vanguard Group Inc. raised its position in Canadian Natural Resources by 0.5% in the 4th quarter. Vanguard Group Inc. now owns 90,002,235 shares of the oil and gas producer's stock worth $2,778,729,000 after purchasing an additional 456,814 shares during the period. Fisher Asset Management LLC raised its position in Canadian Natural Resources by 1.3% in the 4th quarter. Fisher Asset Management LLC now owns 44,131,266 shares of the oil and gas producer's stock worth $1,362,332,000 after purchasing an additional 550,242 shares during the period. Canada Pension Plan Investment Board raised its position in Canadian Natural Resources by 5.3% in the 4th quarter. Canada Pension Plan Investment Board now owns 36,963,702 shares of the oil and gas producer's stock worth $1,139,753,000 after purchasing an additional 1,844,700 shares during the period. Finally, T. Rowe Price Investment Management Inc. raised its position in Canadian Natural Resources by 7.3% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 34,052,775 shares of the oil and gas producer's stock worth $1,051,210,000 after purchasing an additional 2,312,437 shares during the period. 74.03% of the stock is owned by hedge funds and other institutional investors.

Canadian Natural Resources Stock Up 2.0%

CNQ traded up $0.66 during trading on Friday, hitting $33.79. The stock had a trading volume of 12,786,356 shares, compared to its average volume of 5,626,252. The company has a market capitalization of $70.67 billion, a PE ratio of 13.12 and a beta of 1.03. Canadian Natural Resources Limited has a twelve month low of $24.65 and a twelve month high of $37.91. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.53 and a current ratio of 0.84. The stock has a 50 day simple moving average of $29.91 and a two-hundred day simple moving average of $30.33.

Canadian Natural Resources (NYSE:CNQ - Get Free Report) TSE: CNQ last announced its earnings results on Thursday, May 8th. The oil and gas producer reported $0.81 earnings per share for the quarter, beating the consensus estimate 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 period last year, the firm earned $1.37 earnings per share. On average, research analysts predict that Canadian Natural Resources Limited will post 2.45 earnings per share for the current year.

Canadian Natural Resources Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 3rd. Stockholders of record on Friday, June 13th will be paid a dividend of $0.4227 per share. This is an increase from Canadian Natural Resources's previous quarterly dividend of $0.41. This represents a $1.69 annualized dividend and a dividend yield of 5.00%. The ex-dividend date is Friday, June 13th. Canadian Natural Resources's payout ratio is presently 67.06%.

Analysts Set New Price Targets

A number of analysts recently weighed in on CNQ shares. Scotiabank raised shares of Canadian Natural Resources from a "sector perform" rating to a "sector outperform" rating in a research report on Wednesday, March 19th. Raymond James upgraded 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 shares of Canadian Natural Resources from an "in-line" rating to an "outperform" rating in a research note on Friday, March 7th. Finally, Royal Bank of Canada restated an "outperform" rating and issued a $63.00 target price on shares of Canadian Natural Resources in a research note on Thursday, March 27th. Three investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus 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).