Guinness Asset Management LTD Decreases Stock Holdings in Canadian Natural Resources Limited $CNQ

Key Points

• Guinness Asset Management LTD reduced its stake in Canadian Natural Resources Limited ($CNQ) by 19.5%, selling 67,935 shares during the first quarter, leaving them with 279,683 shares valued at approximately $8.58 million.
• Several other investors have significantly increased their positions in Canadian Natural Resources, with Investment Management Corp VA ADV raising their holdings by 158.3%.
• Canadian Natural Resources has announced an increase in its quarterly dividend to $0.4269 per share, representing an annualized yield of 5.5% and a payout ratio of 60.64%.

Guinness Asset Management LTD lessened its stake in Canadian Natural Resources Limited (NYSE:CNQ - Free Report) TSE: CNQ by 19.5% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 279,683 shares of the oil and gas producer's stock after selling 67,935 shares during the period. Guinness Asset Management LTD's holdings in Canadian Natural Resources were worth $8,579,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. MAI Capital Management grew its holdings in shares of Canadian Natural Resources by 9.6% during the 1st quarter. MAI Capital Management now owns 4,365 shares of the oil and gas producer's stock worth $134,000 after acquiring an additional 382 shares during the period. Thurston Springer Miller Herd & Titak Inc. grew its stake in shares of Canadian Natural Resources by 10.2% in the 1st quarter. Thurston Springer Miller Herd & Titak Inc. now owns 5,165 shares of the oil and gas producer's stock worth $159,000 after buying an additional 480 shares during the last quarter. AdvisorNet Financial Inc grew its stake in shares of Canadian Natural Resources by 8.0% in the 1st quarter. AdvisorNet Financial Inc now owns 7,065 shares of the oil and gas producer's stock worth $218,000 after buying an additional 525 shares during the last quarter. Geneos Wealth Management Inc. grew its stake in shares of Canadian Natural Resources by 47.3% in the 1st quarter. Geneos Wealth Management Inc. now owns 1,644 shares of the oil and gas producer's stock worth $51,000 after buying an additional 528 shares during the last quarter. Finally, Peak Financial Advisors LLC grew its stake in shares of Canadian Natural Resources by 0.7% in the 1st quarter. Peak Financial Advisors LLC now owns 77,253 shares of the oil and gas producer's stock worth $2,379,000 after buying an additional 557 shares during the last quarter. Institutional investors own 74.03% of the company's stock.

Canadian Natural Resources Stock Up 0.8%

NYSE:CNQ traded up $0.26 during trading hours on Wednesday, reaching $33.19. The company's stock had a trading volume of 5,848,970 shares, compared to its average volume of 6,456,244. The stock has a 50 day moving average price of $31.05 and a two-hundred day moving average price of $30.48. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.54 and a current ratio of 0.85. Canadian Natural Resources Limited has a 12 month low of $24.65 and a 12 month high of $37.91. The company has a market capitalization of $69.26 billion, a P/E ratio of 11.77 and a beta of 1.03.

Canadian Natural Resources (NYSE:CNQ - Get Free Report) TSE: CNQ last announced its quarterly earnings data on Thursday, August 7th. The oil and gas producer reported $0.51 earnings per share for the quarter, beating analysts' consensus estimates of $0.44 by $0.07. The firm had revenue of $6.39 billion for the quarter, compared to analyst estimates of $8.97 billion. Canadian Natural Resources had a net margin of 19.00% and a return on equity of 19.67%. During the same period in the previous year, the company earned $0.88 earnings per share. Equities analysts predict that Canadian Natural Resources Limited will post 2.45 EPS for the current fiscal year.

Canadian Natural Resources Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, October 3rd. Stockholders of record on Friday, September 19th will be issued a dividend of $0.4269 per share. The ex-dividend date is Friday, September 19th. This represents a $1.71 dividend on an annualized basis and a dividend yield of 5.1%. This is an increase from Canadian Natural Resources's previous quarterly dividend of $0.42. Canadian Natural Resources's payout ratio is 60.64%.

Analysts Set New Price Targets

Several analysts recently weighed in on CNQ shares. Zacks Research upgraded Canadian Natural Resources from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, August 26th. Royal Bank Of Canada decreased their target price on Canadian Natural Resources from $64.00 to $62.00 and set an "outperform" rating on the stock in a report on Friday, August 8th. National Bankshares reiterated a "sector perform" rating on shares of Canadian Natural Resources in a research note on Thursday, July 17th. Scotiabank reiterated an "outperform" rating on shares of Canadian Natural Resources in a research note on Friday, July 11th. Finally, Raymond James Financial reiterated an "outperform" rating on shares of Canadian Natural Resources in a research note on Friday, August 8th. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $62.00.

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).