Souders Financial Advisors Lowers Stock Holdings in Canadian Natural Resources Limited (NYSE:CNQ)

Souders Financial Advisors reduced its stake in Canadian Natural Resources Limited (NYSE:CNQ - Free Report) TSE: CNQ by 58.3% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 28,838 shares of the oil and gas producer's stock after selling 40,380 shares during the period. Souders Financial Advisors' holdings in Canadian Natural Resources were worth $888,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of CNQ. FMR LLC raised its stake in Canadian Natural Resources by 8.7% in the fourth quarter. FMR LLC now owns 92,550,104 shares of the oil and gas producer's stock valued at $2,857,337,000 after buying an additional 7,372,718 shares in the last quarter. Summit Financial LLC acquired a new stake in shares of Canadian Natural Resources during the fourth quarter worth about $267,000. Graybill Wealth Management LTD. purchased a new position in shares of Canadian Natural Resources during the first quarter worth about $3,697,000. Janney Montgomery Scott LLC purchased a new position in shares of Canadian Natural Resources during the first quarter worth about $757,000. Finally, PKO Investment Management Joint Stock Co purchased a new position in shares of Canadian Natural Resources during the fourth quarter worth about $2,452,000. 74.03% of the stock is currently owned by institutional investors and hedge funds.

Canadian Natural Resources Stock Down 0.7%

Shares of Canadian Natural Resources stock opened at $30.81 on Friday. The company has a fifty day moving average price of $31.71 and a 200 day moving average price of $30.43. The company has a current ratio of 0.84, a quick ratio of 0.53 and a debt-to-equity ratio of 0.40. Canadian Natural Resources Limited has a twelve month low of $24.65 and a twelve month high of $37.91. The stock has a market cap of $64.45 billion, a price-to-earnings ratio of 12.08 and a beta of 1.03.

Canadian Natural Resources (NYSE:CNQ - Get Free Report) TSE: CNQ last issued its quarterly earnings data on Thursday, May 8th. The oil and gas producer reported $0.81 EPS for the quarter, topping analysts' consensus estimates of $0.73 by $0.08. Canadian Natural Resources had a net margin of 16.92% and a return on equity of 20.90%. The firm had revenue of $6.96 billion for the quarter, compared to analyst estimates of $10.14 billion. During the same quarter in the previous year, the business posted $1.37 EPS. Equities 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 was paid on Thursday, July 3rd. Investors of record on Friday, June 13th were paid a dividend of $0.4227 per share. This is a positive change from Canadian Natural Resources's previous quarterly dividend of $0.41. The ex-dividend date of this dividend was Friday, June 13th. This represents a $1.69 annualized dividend and a yield of 5.49%. Canadian Natural Resources's dividend payout ratio is 67.06%.

Wall Street Analyst Weigh In

CNQ has been the topic of a number of analyst reports. Royal Bank Of Canada reaffirmed an "outperform" rating and issued a $63.00 price objective on shares of Canadian Natural Resources in a report on Thursday, March 27th. National Bankshares restated a "sector perform" rating on shares of Canadian Natural Resources in a research report on Thursday. Scotiabank restated an "outperform" rating on shares of Canadian Natural Resources in a research report on Friday, July 11th. Finally, Raymond James Financial upgraded Canadian Natural Resources from a "market perform" rating to an "outperform" rating in a report on Wednesday, April 9th. Three investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, Canadian Natural Resources currently has a consensus rating of "Moderate Buy" and a consensus target price of $63.00.

About Canadian Natural Resources

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).

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