Russell Investments Group Ltd. Cuts Stake in Canadian Natural Resources Limited (NYSE:CNQ)

Russell Investments Group Ltd. trimmed its holdings in shares of Canadian Natural Resources Limited (NYSE:CNQ - Free Report) TSE: CNQ by 2.1% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 1,167,063 shares of the oil and gas producer's stock after selling 25,205 shares during the period. Russell Investments Group Ltd. owned approximately 0.11% of Canadian Natural Resources worth $76,623,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Central Bank & Trust Co. bought a new position in shares of Canadian Natural Resources during the 4th quarter valued at $26,000. GAMMA Investing LLC bought a new position in shares of Canadian Natural Resources during the 4th quarter valued at $27,000. Janiczek Wealth Management LLC lifted its holdings in shares of Canadian Natural Resources by 39.7% during the 4th quarter. Janiczek Wealth Management LLC now owns 609 shares of the oil and gas producer's stock valued at $40,000 after buying an additional 173 shares during the period. Federated Hermes Inc. bought a new position in shares of Canadian Natural Resources during the 4th quarter valued at $61,000. Finally, Massmutual Trust Co. FSB ADV lifted its holdings in shares of Canadian Natural Resources by 21.2% during the 4th quarter. Massmutual Trust Co. FSB ADV now owns 1,070 shares of the oil and gas producer's stock valued at $70,000 after buying an additional 187 shares during the period. 74.03% of the stock is currently owned by hedge funds and other institutional investors.

Canadian Natural Resources Price Performance

NYSE:CNQ traded up $0.63 on Friday, reaching $77.97. 1,599,385 shares of the company's stock traded hands, compared to its average volume of 4,195,675. The company has a quick ratio of 0.69, a current ratio of 0.96 and a debt-to-equity ratio of 0.25. The stock has a 50-day simple moving average of $74.12 and a 200-day simple moving average of $67.81. The firm has a market cap of $83.59 billion, a PE ratio of 14.07 and a beta of 1.54. 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 results on Thursday, February 29th. The oil and gas producer reported $1.72 EPS for the quarter, beating analysts' consensus estimates of $1.59 by $0.13. The business had revenue of $7.02 billion for the quarter, compared to analysts' expectations of $6.73 billion. Canadian Natural Resources had a return on equity of 21.74% and a net margin of 20.15%. Equities research analysts forecast that Canadian Natural Resources Limited will post 5.71 earnings per share for the current year.

Canadian Natural Resources Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, April 5th. Shareholders of record on Friday, March 15th were issued a dividend of $0.774 per share. The ex-dividend date was Thursday, March 14th. This is a boost from Canadian Natural Resources's previous quarterly dividend of $0.72. This represents a $3.10 dividend on an annualized basis and a yield of 3.97%. Canadian Natural Resources's dividend payout ratio (DPR) is currently 53.25%.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the company. JPMorgan Chase & Co. raised their target price on Canadian Natural Resources from $101.00 to $102.00 and gave the stock a "neutral" rating in a report on Thursday, January 11th. Desjardins cut Canadian Natural Resources from a "buy" rating to a "hold" rating in a report on Tuesday, April 23rd. Six analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus 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).