DekaBank Deutsche Girozentrale Decreases Holdings in Canadian Natural Resources Limited (NYSE:CNQ)

DekaBank Deutsche Girozentrale cut its stake in shares of Canadian Natural Resources Limited (NYSE:CNQ - Free Report) TSE: CNQ by 1.9% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 1,400,616 shares of the oil and gas producer's stock after selling 27,129 shares during the period. DekaBank Deutsche Girozentrale owned about 0.07% of Canadian Natural Resources worth $42,334,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in the stock. FMR LLC raised its stake in Canadian Natural Resources by 8.7% during the 4th quarter. FMR LLC now owns 92,550,104 shares of the oil and gas producer's stock valued at $2,857,337,000 after buying an additional 7,372,718 shares during the last quarter. Vanguard Group Inc. increased its stake in shares of 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 in the last quarter. Canada Pension Plan Investment Board increased its stake in shares of 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 in the last quarter. T. Rowe Price Investment Management Inc. boosted its holdings 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 buying an additional 2,312,437 shares during the period. Finally, Mackenzie Financial Corp boosted its holdings in Canadian Natural Resources by 4.9% in the 4th quarter. Mackenzie Financial Corp now owns 31,580,717 shares of the oil and gas producer's stock worth $973,976,000 after buying an additional 1,464,807 shares during the period. 74.03% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the stock. Royal Bank Of Canada reaffirmed an "outperform" rating and issued a $63.00 target price on shares of Canadian Natural Resources in a report on Thursday, March 27th. Scotiabank raised shares of Canadian Natural Resources from a "sector perform" rating to a "sector outperform" rating in a report on Wednesday, March 19th. Finally, Raymond James Financial 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 given a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $63.00.

Canadian Natural Resources Price Performance

Shares of CNQ opened at $32.11 on Wednesday. The company has a market cap of $67.17 billion, a price-to-earnings ratio of 12.59 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 quick ratio of 0.53, a current ratio of 0.84 and a debt-to-equity ratio of 0.40. The company has a 50 day moving average of $31.33 and a two-hundred day moving average of $30.37.

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 16.92% and a return on equity of 20.90%. During the same period last year, the firm earned $1.37 earnings per share. As a group, analysts predict 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 declared a quarterly dividend, which was paid on Thursday, July 3rd. Shareholders of record on Friday, June 13th were issued a $0.4227 dividend. The ex-dividend date was Friday, June 13th. This represents a $1.69 dividend on an annualized basis and a dividend yield of 5.27%. This is a boost from Canadian Natural Resources's previous quarterly dividend of $0.41. Canadian Natural Resources's dividend payout ratio (DPR) is currently 67.06%.

Canadian Natural Resources Company 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).

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