Verdence Capital Advisors LLC Trims Holdings in Canadian Natural Resources Limited (NYSE:CNQ)

Verdence Capital Advisors LLC decreased its position in shares of Canadian Natural Resources Limited (NYSE:CNQ - Free Report) TSE: CNQ by 56.4% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 58,431 shares of the oil and gas producer's stock after selling 75,725 shares during the period. Verdence Capital Advisors LLC's holdings in Canadian Natural Resources were worth $1,800,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the company. Lee Danner & Bass Inc. purchased a new position in shares of Canadian Natural Resources in the fourth quarter worth $25,000. Hurley Capital LLC purchased a new position in Canadian Natural Resources during the fourth quarter valued at $31,000. Sandy Spring Bank purchased a new position in Canadian Natural Resources during the fourth quarter valued at $31,000. CoreFirst Bank & Trust purchased a new position in Canadian Natural Resources during the fourth quarter valued at $31,000. Finally, Versant Capital Management Inc lifted its holdings in Canadian Natural Resources by 253.2% during the first quarter. Versant Capital Management Inc now owns 1,307 shares of the oil and gas producer's stock valued at $40,000 after purchasing an additional 937 shares in the last quarter. Hedge funds and other institutional investors own 74.03% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on CNQ shares. Raymond James Financial raised shares of Canadian Natural Resources from a "market perform" rating to an "outperform" rating in a research note on Wednesday, April 9th. National Bankshares reiterated a "sector perform" rating on shares of Canadian Natural Resources in a research report on Thursday. Royal Bank Of Canada reiterated an "outperform" rating and set a $63.00 price target on shares of Canadian Natural Resources in a research report on Thursday, March 27th. Finally, Scotiabank reaffirmed an "outperform" rating on shares of Canadian Natural Resources in a research note on Friday, July 11th. Three analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $63.00.

Canadian Natural Resources Stock Down 0.7%

NYSE CNQ traded down $0.21 on Friday, hitting $30.81. 4,938,048 shares of the stock were exchanged, compared to its average volume of 5,762,725. The company has a quick ratio of 0.53, a current ratio of 0.84 and a debt-to-equity ratio of 0.40. Canadian Natural Resources Limited has a fifty-two week low of $24.65 and a fifty-two week high of $37.91. The company has a market cap of $64.45 billion, a PE ratio of 12.08 and a beta of 1.03. The company has a 50-day moving average price of $31.71 and a 200-day moving average price of $30.43.

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 earnings per share for the quarter, topping the consensus estimate of $0.73 by $0.08. The business had revenue of $6.96 billion during the quarter, compared to the consensus estimate 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 quarter in the previous year, the firm earned $1.37 EPS. Sell-side analysts anticipate that Canadian Natural Resources Limited will post 2.45 EPS for the current fiscal year.

Canadian Natural Resources Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, July 3rd. Investors of record on Friday, June 13th were given a $0.4227 dividend. This is an increase 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%.

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).