PKO Investment Management Joint Stock Co Lowers Stock Holdings in Canadian Natural Resources Limited (NYSE:CNQ)

PKO Investment Management Joint Stock Co trimmed its stake in shares of Canadian Natural Resources Limited (NYSE:CNQ - Free Report) TSE: CNQ by 20.2% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 63,400 shares of the oil and gas producer's stock after selling 16,000 shares during the quarter. PKO Investment Management Joint Stock Co's holdings in Canadian Natural Resources were worth $1,957,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. FMR LLC grew its stake in shares of Canadian Natural Resources by 8.7% during the fourth quarter. FMR LLC now owns 92,550,104 shares of the oil and gas producer's stock worth $2,857,337,000 after purchasing an additional 7,372,718 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. boosted its position in shares of Canadian Natural Resources by 31.6% during the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 13,433,797 shares of the oil and gas producer's stock worth $414,223,000 after acquiring an additional 3,224,548 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of Canadian Natural Resources by 30.1% in the 4th quarter. Geode Capital Management LLC now owns 12,708,163 shares of the oil and gas producer's stock valued at $400,222,000 after acquiring an additional 2,939,866 shares during the last quarter. T. Rowe Price Investment Management Inc. raised its position in shares of Canadian Natural Resources by 7.3% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 34,052,775 shares of the oil and gas producer's stock worth $1,051,210,000 after acquiring an additional 2,312,437 shares in the last quarter. Finally, Bank of New York Mellon Corp lifted its stake in Canadian Natural Resources by 87.0% during the fourth quarter. Bank of New York Mellon Corp now owns 4,437,771 shares of the oil and gas producer's stock worth $136,994,000 after purchasing an additional 2,064,492 shares during the last quarter. 74.03% of the stock is owned by institutional investors and hedge funds.

Canadian Natural Resources Stock Performance

NYSE CNQ traded down $0.18 on Friday, reaching $33.42. The stock had a trading volume of 12,213,177 shares, compared to its average volume of 5,681,634. The stock has a market cap of $69.90 billion, a P/E ratio of 13.11 and a beta of 1.03. Canadian Natural Resources Limited has a 12-month low of $24.65 and a 12-month high of $37.91. The business's 50-day moving average price is $30.46 and its 200 day moving average price is $30.35. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.53 and a current ratio of 0.84.

Canadian Natural Resources (NYSE:CNQ - Get Free Report) TSE: CNQ last announced its earnings results on Thursday, May 8th. The oil and gas producer reported $0.81 EPS for the quarter, beating analysts' consensus estimates of $0.73 by $0.08. The business had revenue of $6.96 billion for the quarter, compared to analysts' expectations of $10.14 billion. Canadian Natural Resources had a net margin of 16.92% and a return on equity of 20.90%. During the same period in the previous year, the company posted $1.37 EPS. As a group, equities analysts expect 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 Thursday, July 3rd. Stockholders of record on Friday, June 13th will be issued a $0.4227 dividend. This represents a $1.69 dividend on an annualized basis and a dividend yield of 5.06%. This is a boost from Canadian Natural Resources's previous quarterly dividend of $0.41. The ex-dividend date of this dividend is Friday, June 13th. Canadian Natural Resources's dividend payout ratio is presently 67.06%.

Analysts Set New Price Targets

Several brokerages have commented on CNQ. Scotiabank upgraded shares of Canadian Natural Resources from a "sector perform" rating to a "sector outperform" rating in a research note on Wednesday, March 19th. Evercore ISI raised shares of Canadian Natural Resources from an "in-line" rating to an "outperform" rating in a research report on Friday, March 7th. Raymond James Financial upgraded shares of Canadian Natural Resources from a "market perform" rating to an "outperform" rating in a research note on Wednesday, April 9th. Finally, Royal Bank Of Canada restated an "outperform" rating and issued a $63.00 price objective on shares of Canadian Natural Resources in a research note on Thursday, March 27th. Three research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $63.00.

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).