Raymond James Financial Inc. Has $33.45 Million Stock Holdings in Canadian Natural Resources Limited $CNQ

Key Points

• Raymond James Financial Inc. has reduced its holdings in Canadian Natural Resources Limited by 12.8%, selling 159,216 shares, and currently owns about 1,086,052 shares valued at approximately $33.45 million.
• Despite the sale, several hedge funds, including Brandywine Global Investment Management and Dimensional Fund Advisors, have increased their stakes in Canadian Natural Resources in the first quarter.
• Canadian Natural Resources recently announced a quarterly dividend of $0.4269, which is an increase from the previous $0.42, reflecting a 5.5% yield.

Raymond James Financial Inc. decreased its holdings in shares of Canadian Natural Resources Limited (NYSE:CNQ - Free Report) TSE: CNQ by 12.8% in the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 1,086,052 shares of the oil and gas producer's stock after selling 159,216 shares during the period. Raymond James Financial Inc. owned approximately 0.05% of Canadian Natural Resources worth $33,450,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Investment Management Corp VA ADV increased its position in shares of Canadian Natural Resources by 158.3% in the 1st quarter. Investment Management Corp VA ADV now owns 997 shares of the oil and gas producer's stock valued at $31,000 after buying an additional 611 shares in the last quarter. Versant Capital Management Inc increased its position in shares of Canadian Natural Resources by 253.2% in the 1st quarter. Versant Capital Management Inc now owns 1,307 shares of the oil and gas producer's stock valued at $40,000 after buying an additional 937 shares in the last quarter. Sierra Ocean LLC increased its position in shares of Canadian Natural Resources by 104.0% in the 1st quarter. Sierra Ocean LLC now owns 1,569 shares of the oil and gas producer's stock valued at $48,000 after buying an additional 800 shares in the last quarter. Opal Wealth Advisors LLC bought a new stake in shares of Canadian Natural Resources in the 1st quarter valued at $56,000. Finally, Cloud Capital Management LLC bought a new stake in shares of Canadian Natural Resources in the 1st quarter valued at $68,000. Institutional investors own 74.03% of the company's stock.

Canadian Natural Resources Stock Up 0.6%

NYSE CNQ traded up $0.19 on Friday, reaching $31.68. The company had a trading volume of 6,081,073 shares, compared to its average volume of 5,735,944. The firm has a market capitalization of $66.17 billion, a price-to-earnings ratio of 11.23 and a beta of 1.05. 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 1-year low of $24.65 and a 1-year high of $37.91. The company's fifty day moving average is $31.17 and its 200-day moving average is $30.33.

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

Canadian Natural Resources Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 3rd. Stockholders of record on Friday, September 19th will be paid 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 5.4%. This is a positive change from Canadian Natural Resources's previous quarterly dividend of $0.42. Canadian Natural Resources's dividend payout ratio (DPR) is currently 60.64%.

Analysts Set New Price Targets

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

Canadian Natural Resources Company 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).