Meritage Portfolio Management Trims Stake in Canadian Natural Resources Limited (NYSE:CNQ)

Meritage Portfolio Management lowered its position in Canadian Natural Resources Limited (NYSE:CNQ - Free Report) TSE: CNQ by 47.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 45,464 shares of the oil and gas producer's stock after selling 41,589 shares during the quarter. Meritage Portfolio Management's holdings in Canadian Natural Resources were worth $2,979,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also bought and sold shares of CNQ. Central Bank & Trust Co. purchased a new stake in Canadian Natural Resources in the fourth quarter worth approximately $26,000. GAMMA Investing LLC bought a new stake in Canadian Natural Resources in the fourth quarter valued at approximately $27,000. Janiczek Wealth Management LLC lifted its position in Canadian Natural Resources by 39.7% in the fourth quarter. Janiczek Wealth Management LLC now owns 609 shares of the oil and gas producer's stock valued at $40,000 after purchasing an additional 173 shares during the last quarter. Federated Hermes Inc. bought a new stake in Canadian Natural Resources in the fourth quarter valued at approximately $61,000. Finally, Massmutual Trust Co. FSB ADV lifted its position in Canadian Natural Resources by 21.2% in the fourth quarter. Massmutual Trust Co. FSB ADV now owns 1,070 shares of the oil and gas producer's stock valued at $70,000 after purchasing an additional 187 shares during the last quarter. Hedge funds and other institutional investors own 74.03% of the company's stock.

Canadian Natural Resources Trading Up 0.5 %

Shares of Canadian Natural Resources stock traded up $0.41 during midday trading on Thursday, reaching $77.32. 2,721,299 shares of the company's stock traded hands, compared to its average volume of 3,329,062. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.69 and a current ratio of 0.96. The company has a market cap of $82.90 billion, a PE ratio of 13.96 and a beta of 1.54. The stock has a 50 day moving average of $73.82 and a 200-day moving average of $67.68. Canadian Natural Resources Limited has a 12 month low of $52.66 and a 12 month high of $82.58.

Canadian Natural Resources (NYSE:CNQ - Get Free Report) TSE: CNQ last posted its quarterly earnings data on Thursday, February 29th. The oil and gas producer reported $1.72 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.59 by $0.13. The business had revenue of $7.02 billion during the quarter, compared to the consensus estimate of $6.73 billion. Canadian Natural Resources had a return on equity of 21.74% and a net margin of 20.15%. As a group, equities analysts expect that Canadian Natural Resources Limited will post 5.7 EPS for the current fiscal year.

Canadian Natural Resources Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, April 5th. Shareholders of record on Friday, March 15th were issued a $0.774 dividend. This is an increase from Canadian Natural Resources's previous quarterly dividend of $0.72. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $3.10 dividend on an annualized basis and a yield of 4.00%. Canadian Natural Resources's dividend payout ratio is 53.25%.

Analyst Ratings Changes

Several analysts have weighed in on the company. JPMorgan Chase & Co. boosted their price objective on Canadian Natural Resources from $101.00 to $102.00 and gave the company a "neutral" rating in a research report on Thursday, January 11th. Desjardins downgraded Canadian Natural Resources from a "buy" rating to a "hold" rating in a research report on Tuesday. Six investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, Canadian Natural Resources has an average rating of "Hold" and a consensus price target of $94.00.

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).