Hsbc Holdings PLC Sells 28,470 Shares of Canadian Natural Resources Limited $CNQ

Key Points

• Hsbc Holdings PLC has reduced its stake in Canadian Natural Resources Limited by 2.8%, now holding shares worth $30.66 million after selling 28,470 shares.
• Canadian Natural Resources Limited has recently declared a quarterly dividend of $0.4269 per share, representing an annualized dividend yield of 5.5%, an increase from its previous dividend.
• Analysts have given Canadian Natural Resources a consensus rating of "Moderate Buy" with a price target of $62.00, reflecting strong investor sentiment despite changes in some ratings.

Hsbc Holdings PLC lowered its holdings in shares of Canadian Natural Resources Limited (NYSE:CNQ - Free Report) TSE: CNQ by 2.8% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 995,930 shares of the oil and gas producer's stock after selling 28,470 shares during the quarter. Hsbc Holdings PLC's holdings in Canadian Natural Resources were worth $30,660,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Investment Management Corp VA ADV raised its position in shares of Canadian Natural Resources by 158.3% during the first quarter. Investment Management Corp VA ADV now owns 997 shares of the oil and gas producer's stock worth $31,000 after purchasing an additional 611 shares during the period. Versant Capital Management Inc raised its position in shares of 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 worth $40,000 after purchasing an additional 937 shares during the period. Sierra Ocean LLC raised its position in shares of Canadian Natural Resources by 104.0% during the first quarter. Sierra Ocean LLC now owns 1,569 shares of the oil and gas producer's stock worth $48,000 after purchasing an additional 800 shares during the period. Opal Wealth Advisors LLC acquired a new stake in shares of Canadian Natural Resources during the first quarter worth about $56,000. Finally, Cloud Capital Management LLC acquired a new stake in shares of Canadian Natural Resources during the first quarter worth about $68,000. Institutional investors and hedge funds own 74.03% of the company's stock.

Canadian Natural Resources Stock Down 0.0%

Shares of Canadian Natural Resources stock traded down $0.02 on Thursday, reaching $31.28. 1,422,403 shares of the company were exchanged, compared to its average volume of 6,439,295. Canadian Natural Resources Limited has a one year low of $24.65 and a one year high of $37.91. The company has a market capitalization of $65.34 billion, a price-to-earnings ratio of 11.08 and a beta of 1.05. The company has a current ratio of 0.85, a quick ratio of 0.54 and a debt-to-equity ratio of 0.38. The company has a 50-day moving average of $31.25 and a 200 day moving average of $30.32.

Canadian Natural Resources (NYSE:CNQ - Get Free Report) TSE: CNQ last posted its earnings results on Thursday, August 7th. The oil and gas producer reported $0.51 earnings per share for the quarter, topping analysts' consensus estimates of $0.44 by $0.07. The business had revenue of $6.39 billion for the quarter, compared to analyst estimates of $8.97 billion. Canadian Natural Resources had a return on equity of 19.67% and a net margin of 19.00%.During the same period in the previous year, the firm earned $0.88 EPS. On average, equities research analysts forecast 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 will be paid on Friday, October 3rd. Investors of record on Friday, September 19th will be issued a dividend of $0.4269 per share. This represents a $1.71 dividend on an annualized basis and a dividend yield of 5.5%. The ex-dividend date of this dividend is Friday, September 19th. This is a boost from Canadian Natural Resources's previous quarterly dividend of $0.42. Canadian Natural Resources's payout ratio is presently 60.64%.

Analyst Ratings Changes

A number of research firms have recently commented on CNQ. Royal Bank Of Canada dropped their price target on Canadian Natural Resources from $64.00 to $62.00 and set an "outperform" rating on the stock in a research report on Friday, August 8th. Raymond James Financial reissued an "outperform" rating on shares of Canadian Natural Resources in a research report on Friday, August 8th. Scotiabank reissued an "outperform" rating on shares of Canadian Natural Resources in a research report on Friday, July 11th. National Bankshares reissued a "sector perform" rating on shares of Canadian Natural Resources in a research report on Thursday, July 17th. Finally, Zacks Research raised Canadian Natural Resources from a "hold" rating to a "strong-buy" rating in a research report on Tuesday. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $62.00.

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).