Envestnet Asset Management Inc. Lowers Holdings in Canadian Natural Resources Limited (NYSE:CNQ)

Envestnet Asset Management Inc. lowered its holdings in Canadian Natural Resources Limited (NYSE:CNQ - Free Report) TSE: CNQ by 4.2% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,461,826 shares of the oil and gas producer's stock after selling 63,606 shares during the period. Envestnet Asset Management Inc. owned about 0.07% of Canadian Natural Resources worth $45,024,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of the business. Assetmark Inc. raised its stake in shares of Canadian Natural Resources by 57.3% in the fourth quarter. Assetmark Inc. now owns 1,205 shares of the oil and gas producer's stock valued at $37,000 after buying an additional 439 shares during the period. PNC Financial Services Group Inc. increased its stake in Canadian Natural Resources by 8.8% in the 4th quarter. PNC Financial Services Group Inc. now owns 89,546 shares of the oil and gas producer's stock worth $2,764,000 after acquiring an additional 7,236 shares during the last quarter. Independent Advisor Alliance bought a new position in Canadian Natural Resources in the 4th quarter worth about $256,000. Sequoia Financial Advisors LLC increased its stake in Canadian Natural Resources by 34.7% in the 4th quarter. Sequoia Financial Advisors LLC now owns 62,168 shares of the oil and gas producer's stock worth $1,919,000 after acquiring an additional 16,029 shares during the last quarter. Finally, Natixis Advisors LLC boosted its holdings in shares of Canadian Natural Resources by 6.8% in the 4th quarter. Natixis Advisors LLC now owns 545,258 shares of the oil and gas producer's stock worth $16,832,000 after purchasing an additional 34,928 shares in the last quarter. Hedge funds and other institutional investors own 74.03% of the company's stock.

Analysts Set New Price Targets

Several brokerages recently weighed in on CNQ. Scotiabank upgraded Canadian Natural Resources from a "sector perform" rating to a "sector outperform" rating in a report on Wednesday, March 19th. Royal Bank Of Canada restated an "outperform" rating and set a $63.00 target price on shares of Canadian Natural Resources in a report on Thursday, March 27th. Finally, Raymond James Financial raised Canadian Natural Resources from a "market perform" rating to an "outperform" rating in a research report on Wednesday, April 9th. Three equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company's stock. According to MarketBeat.com, Canadian Natural Resources has a consensus rating of "Moderate Buy" and an average target price of $63.00.

Canadian Natural Resources Stock Performance

Shares of CNQ stock traded up $0.30 on Friday, reaching $32.09. The stock had a trading volume of 4,805,822 shares, compared to its average volume of 5,797,558. The stock has a market cap of $67.12 billion, a P/E ratio of 12.58 and a beta of 1.03. Canadian Natural Resources Limited has a 1 year low of $24.65 and a 1 year high of $37.91. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.53 and a current ratio of 0.84. The company has a 50 day simple moving average of $31.51 and a 200 day simple moving average of $30.40.

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 for the quarter, beating the consensus estimate of $0.73 by $0.08. The company had revenue of $6.96 billion for the quarter, compared to the consensus estimate of $10.14 billion. Canadian Natural Resources had a return on equity of 20.90% and a net margin of 16.92%. During the same period in the previous year, the business earned $1.37 earnings per share. Equities research analysts expect that Canadian Natural Resources Limited will post 2.45 EPS for the current year.

Canadian Natural Resources Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, July 3rd. Investors of record on Friday, June 13th were given a dividend of $0.4227 per share. The ex-dividend date was Friday, June 13th. This is an increase from Canadian Natural Resources's previous quarterly dividend of $0.41. This represents a $1.69 annualized dividend and a yield of 5.27%. Canadian Natural Resources's payout ratio is 67.06%.

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).