Ritholtz Wealth Management Lowers Stock Holdings in Canadian Natural Resources Limited (NYSE:CNQ)

Ritholtz Wealth Management trimmed its position in shares of Canadian Natural Resources Limited (NYSE:CNQ - Free Report) TSE: CNQ by 37.4% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 58,306 shares of the oil and gas producer's stock after selling 34,805 shares during the quarter. Ritholtz Wealth Management's holdings in Canadian Natural Resources were worth $1,796,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of CNQ. Opal Wealth Advisors LLC acquired a new position in shares of Canadian Natural Resources in the first quarter valued at approximately $56,000. Hennessy Advisors Inc. boosted its position in Canadian Natural Resources by 14.1% in the 1st quarter. Hennessy Advisors Inc. now owns 195,500 shares of the oil and gas producer's stock valued at $6,021,000 after buying an additional 24,100 shares during the period. Wealth Enhancement Advisory Services LLC boosted its position in Canadian Natural Resources by 8.1% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 36,803 shares of the oil and gas producer's stock valued at $1,134,000 after buying an additional 2,756 shares during the period. Azzad Asset Management Inc. ADV purchased a new stake in shares of Canadian Natural Resources during the first quarter worth $4,747,000. Finally, Verity & Verity LLC increased its position in shares of Canadian Natural Resources by 63.2% during the first quarter. Verity & Verity LLC now owns 485,471 shares of the oil and gas producer's stock worth $14,953,000 after acquiring an additional 187,984 shares during the period. 74.03% of the stock is owned by institutional investors and hedge funds.

Canadian Natural Resources Stock Up 2.0%

Shares of NYSE CNQ traded up $0.68 during midday trading on Tuesday, hitting $34.00. 9,366,775 shares of the company's stock were exchanged, compared to its average volume of 6,918,158. The firm's fifty day simple moving average is $30.08 and its 200-day simple moving average is $30.30. The company has a market cap of $71.11 billion, a PE ratio of 13.20 and a beta of 1.03. Canadian Natural Resources Limited has a twelve month low of $24.65 and a twelve month high of $37.91. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.84 and a quick ratio of 0.53.

Canadian Natural Resources (NYSE:CNQ - Get Free Report) TSE: CNQ last announced its quarterly earnings results on Thursday, May 8th. The oil and gas producer reported $0.81 earnings per share for the quarter, beating analysts' consensus estimates of $0.73 by $0.08. The firm had revenue of $6.96 billion during the quarter, compared to analysts' expectations of $10.14 billion. Canadian Natural Resources had a net margin of 18.45% and a return on equity of 20.07%. During the same period in the previous year, the company earned $1.37 earnings per share. Research analysts predict that Canadian Natural Resources Limited will post 2.45 EPS for the current fiscal year.

Canadian Natural Resources Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, July 3rd. Investors of record on Friday, June 13th will be paid a dividend of $0.4227 per share. This represents a $1.69 dividend on an annualized basis and a yield of 4.97%. The ex-dividend date of this dividend is Friday, June 13th. This is an increase from Canadian Natural Resources's previous quarterly dividend of $0.41. Canadian Natural Resources's dividend payout ratio (DPR) is currently 67.06%.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on CNQ shares. Royal Bank of Canada reiterated an "outperform" rating and issued a $63.00 target price on shares of Canadian Natural Resources in a report on Thursday, March 27th. Evercore ISI upgraded Canadian Natural Resources from an "in-line" rating to an "outperform" rating in a research note on Friday, March 7th. Raymond James upgraded shares of Canadian Natural Resources from a "market perform" rating to an "outperform" rating in a research note on Wednesday, April 9th. Finally, Scotiabank raised shares of Canadian Natural Resources from a "sector perform" rating to a "sector outperform" rating in a report on Wednesday, March 19th. Three research analysts have rated the stock with a hold rating and four have given a buy rating to the company's stock. Based on data from MarketBeat.com, Canadian Natural Resources has an average rating of "Moderate Buy" and a consensus target price of $63.00.

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).