Dakota Wealth Management Sells 28,741 Shares of Canadian Natural Resources Limited (NYSE:CNQ)

Dakota Wealth Management lowered its stake in shares of Canadian Natural Resources Limited (NYSE:CNQ - Free Report) TSE: CNQ by 21.5% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 104,688 shares of the oil and gas producer's stock after selling 28,741 shares during the period. Dakota Wealth Management's holdings in Canadian Natural Resources were worth $3,224,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently modified their holdings of CNQ. Lee Danner & Bass Inc. purchased a new position in Canadian Natural Resources during the 4th quarter valued at approximately $25,000. Sandy Spring Bank bought a new position in shares of Canadian Natural Resources during the 4th quarter valued at approximately $31,000. CoreFirst Bank & Trust purchased a new position in shares of Canadian Natural Resources in the fourth quarter valued at $31,000. Hurley Capital LLC bought a new stake in Canadian Natural Resources in the fourth quarter worth $31,000. Finally, Versant Capital Management Inc raised its stake in Canadian Natural Resources by 253.2% during the first quarter. Versant Capital Management Inc now owns 1,307 shares of the oil and gas producer's stock valued at $40,000 after purchasing an additional 937 shares in the last quarter. Hedge funds and other institutional investors own 74.03% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages have commented on CNQ. Royal Bank Of Canada reissued an "outperform" rating and issued a $63.00 price objective on shares of Canadian Natural Resources in a research note on Thursday, March 27th. Scotiabank reaffirmed an "outperform" rating on shares of Canadian Natural Resources in a report on Friday. Finally, Raymond James Financial upgraded Canadian Natural Resources from a "market perform" rating to an "outperform" rating in a research report on Wednesday, April 9th. 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 presently has a consensus rating of "Moderate Buy" and an average target price of $63.00.

Canadian Natural Resources Stock Down 0.9%

NYSE CNQ opened at $31.82 on Tuesday. The company has a quick ratio of 0.53, a current ratio of 0.84 and a debt-to-equity ratio of 0.40. Canadian Natural Resources Limited has a 52 week low of $24.65 and a 52 week high of $37.91. The firm has a market capitalization of $66.55 billion, a price-to-earnings ratio of 12.48 and a beta of 1.03. The company has a fifty day moving average of $31.59 and a two-hundred day moving average of $30.42.

Canadian Natural Resources (NYSE:CNQ - Get Free Report) TSE: CNQ last released its 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 firm had revenue of $6.96 billion during the quarter, compared to analyst estimates 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 last year, the business earned $1.37 EPS. On average, analysts predict that Canadian Natural Resources Limited will post 2.45 earnings per share for the current year.

Canadian Natural Resources Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, July 3rd. Shareholders of record on Friday, June 13th were given a dividend of $0.4227 per share. This represents a $1.69 annualized dividend and a dividend yield of 5.31%. The ex-dividend date of this dividend was Friday, June 13th. This is a positive change from Canadian Natural Resources's previous quarterly dividend of $0.41. Canadian Natural Resources's payout ratio is 67.06%.

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).

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