OMERS ADMINISTRATION Corp Has $3.21 Million Position in Canadian Natural Resources Limited $CNQ

Key Points

• OMERS Administration Corp. cut its Canadian Natural Resources stake by 90.6% in the first quarter, selling 633,900 shares and retaining 66,100 shares valued at approximately $3.21 million. Institutional investors collectively own 74.03% of the company.
• Canadian Natural Resources reported quarterly EPS of $0.85, exceeding the $0.74 consensus estimate, while revenue of $7.72 billion also topped expectations. Analysts maintain a “Moderate Buy” consensus rating with a $57 price target.
• The company paid a quarterly dividend of $0.625, equivalent to $2.50 annually and a 5.6% yield. Shares opened at $44.76, with the stock down 3.6% and trading between a 52-week range of $29.30 to $51.34.

OMERS ADMINISTRATION Corp lessened its position in Canadian Natural Resources Limited (NYSE:CNQ - Free Report) TSE: CNQ by 90.6% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 66,100 shares of the oil and gas producer's stock after selling 633,900 shares during the quarter. OMERS ADMINISTRATION Corp's holdings in Canadian Natural Resources were worth $3,214,000 as of its most recent filing with the SEC.

Several other institutional investors have also recently bought and sold shares of the company. Sunbelt Securities Inc. acquired a new position in Canadian Natural Resources during the fourth quarter worth $25,000. Manchester Capital Management LLC acquired a new stake in Canadian Natural Resources in the 4th quarter valued at $28,000. Leonteq Securities AG bought a new stake in Canadian Natural Resources during the 4th quarter worth about $31,000. Quarry LP bought a new stake in Canadian Natural Resources during the 3rd quarter worth about $32,000. Finally, LOM Asset Management Ltd acquired a new position in shares of Canadian Natural Resources during the 4th quarter worth about $34,000. Institutional investors own 74.03% of the company's stock.

Canadian Natural Resources Stock Down 3.6%

Canadian Natural Resources stock opened at $44.76 on Tuesday. The company has a debt-to-equity ratio of 0.37, a current ratio of 0.98 and a quick ratio of 0.68. The company's 50-day moving average is $43.88 and its 200-day moving average is $43.37. The firm has a market capitalization of $92.90 billion, a PE ratio of 13.36 and a beta of 0.47. Canadian Natural Resources Limited has a fifty-two week low of $29.30 and a fifty-two week high of $51.34.

Canadian Natural Resources (NYSE:CNQ - Get Free Report) TSE: CNQ last issued its earnings results on Thursday, May 7th. The oil and gas producer reported $0.85 earnings per share (EPS) for the quarter, beating the consensus estimate 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 business had revenue of $7.72 billion during the quarter, compared to the consensus estimate of $7.57 billion. During the same period last year, the business posted $1.16 EPS. Sell-side analysts anticipate that Canadian Natural Resources Limited will post 3.89 earnings per share for the current year.

Canadian Natural Resources Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, July 7th. Stockholders of record on Tuesday, June 23rd were given a $0.625 dividend. This represents a $2.50 dividend on an annualized basis and a dividend yield of 5.6%. The ex-dividend date of this dividend was Tuesday, June 23rd. Canadian Natural Resources's dividend payout ratio (DPR) is presently 54.03%.

Analyst Ratings Changes

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

About Canadian Natural Resources

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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