Janus Henderson Group PLC Reduces Position in Canadian Natural Resources Limited $CNQ

Key Points

• Janus Henderson cut its Canadian Natural Resources stake by 42.6% in the first quarter, selling 3.19 million shares and retaining 4.30 million shares valued at approximately $209.5 million.
• Analyst sentiment remains positive, with a consensus rating of “Moderate Buy” and an average price target of $57.00; recent upgrades included Zacks Research and Raymond James.
• Canadian Natural Resources reported quarterly EPS of $0.85, exceeding estimates, and pays a quarterly dividend of $0.625, or $2.50 annually, representing a 5.3% yield.

Janus Henderson Group PLC decreased its holdings in shares of Canadian Natural Resources Limited (NYSE:CNQ - Free Report) TSE: CNQ by 42.6% during the first quarter, according to the company in its most recent disclosure with the SEC. The fund owned 4,301,460 shares of the oil and gas producer's stock after selling 3,194,318 shares during the quarter. Janus Henderson Group PLC owned 0.21% of Canadian Natural Resources worth $209,462,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Sunbelt Securities Inc. bought a new stake in Canadian Natural Resources during the 4th quarter valued at about $25,000. Manchester Capital Management LLC bought a new position in Canadian Natural Resources in the 4th quarter worth about $28,000. Leonteq Securities AG bought a new position in Canadian Natural Resources in the 4th quarter worth about $31,000. LOM Asset Management Ltd purchased a new position in shares of Canadian Natural Resources during the fourth quarter worth approximately $34,000. Finally, Quarry LP bought a new stake in shares of Canadian Natural Resources during the third quarter valued at approximately $32,000. 74.03% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several brokerages have weighed in on CNQ. Zacks Research upgraded Canadian Natural Resources from a "hold" rating to a "strong-buy" rating in a report on Tuesday, July 21st. Raymond James Financial upgraded Canadian Natural Resources from a "market perform" rating to an "outperform" rating in a report on Thursday, May 7th. Weiss Ratings lowered shares of Canadian Natural Resources from a "buy (b)" rating to a "buy (b-)" rating in a research note on Monday, May 11th. Desjardins raised shares of Canadian Natural Resources to a "hold" rating in a research report on Thursday, July 16th. Finally, Scotiabank upgraded shares of Canadian Natural Resources to a "hold" rating in a report on Friday, June 26th. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat.com, Canadian Natural Resources currently has a consensus rating of "Moderate Buy" and an average target price of $57.00.

Canadian Natural Resources Trading Up 1.7%

Canadian Natural Resources stock opened at $47.25 on Friday. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.68 and a current ratio of 0.98. The stock has a market cap of $98.07 billion, a PE ratio of 14.10 and a beta of 0.47. The stock has a 50-day moving average of $43.70 and a two-hundred day moving average of $43.68. Canadian Natural Resources Limited has a one year low of $29.30 and a one year high of $51.34.

Canadian Natural Resources (NYSE:CNQ - Get Free Report) TSE: CNQ last released its earnings results on Thursday, May 7th. The oil and gas producer reported $0.85 EPS for the quarter, topping analysts' consensus estimates of $0.74 by $0.11. Canadian Natural Resources had a net margin of 22.04% and a return on equity of 17.49%. The company had revenue of $7.72 billion during the quarter, compared to analysts' expectations of $7.57 billion. During the same period last year, the business earned $1.16 EPS. On average, research analysts anticipate that Canadian Natural Resources Limited will post 3.89 EPS for the current fiscal year.

Canadian Natural Resources Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, July 7th. Stockholders of record on Tuesday, June 23rd were issued a $0.625 dividend. The ex-dividend date of this dividend was Tuesday, June 23rd. This represents a $2.50 dividend on an annualized basis and a dividend yield of 5.3%. Canadian Natural Resources's dividend payout ratio is currently 54.03%.

Canadian Natural Resources Company Profile

Canadian Natural Resources Limited NYSE: CNQ is a Calgary-based independent oil and natural gas exploration and production company. Established in the early 1970s and publicly listed in Canada and the United States, the company is principally engaged in the exploration, development, production, and marketing of crude oil, natural gas and natural gas liquids. Its asset base spans conventional and unconventional reservoirs and includes oil sands mining and in-situ thermal projects, midstream processing and upgrading capacity, and related field operations.

The company's operations are concentrated in Western Canada, where it develops heavy crude, bitumen from oil sands and conventional light crude and natural gas resources.

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