Point72 Europe London LLP Sells 908,782 Shares of Canadian Natural Resources Limited (NYSE:CNQ)

Point72 Europe London LLP trimmed its holdings in Canadian Natural Resources Limited (NYSE:CNQ - Free Report) TSE: CNQ by 69.8% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 393,869 shares of the oil and gas producer's stock after selling 908,782 shares during the quarter. Point72 Europe London LLP's holdings in Canadian Natural Resources were worth $12,153,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors also recently bought and sold shares of the business. FMR LLC boosted its holdings 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 worth $2,857,337,000 after acquiring an additional 7,372,718 shares in the last quarter. Principal Securities Inc. boosted its stake in Canadian Natural Resources by 595.2% in the 4th quarter. Principal Securities Inc. now owns 6,987 shares of the oil and gas producer's stock worth $216,000 after purchasing an additional 5,982 shares in the last quarter. SG Americas Securities LLC grew its position in Canadian Natural Resources by 6.3% during the 4th quarter. SG Americas Securities LLC now owns 296,424 shares of the oil and gas producer's stock valued at $9,151,000 after purchasing an additional 17,694 shares during the last quarter. CIBC Asset Management Inc increased its stake in Canadian Natural Resources by 5.6% during the 4th quarter. CIBC Asset Management Inc now owns 24,109,432 shares of the oil and gas producer's stock valued at $746,025,000 after purchasing an additional 1,270,945 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its holdings in Canadian Natural Resources by 87.0% in the fourth quarter. Bank of New York Mellon Corp now owns 4,437,771 shares of the oil and gas producer's stock worth $136,994,000 after buying an additional 2,064,492 shares during the last quarter. 74.03% of the stock is owned by hedge funds and other institutional investors.

Canadian Natural Resources Stock Performance

NYSE CNQ traded up $0.30 on Tuesday, hitting $30.86. 1,629,779 shares of the company traded hands, compared to its average volume of 6,930,278. The business's 50 day moving average price is $29.33 and its 200-day moving average price is $30.65. Canadian Natural Resources Limited has a 52-week low of $24.65 and a 52-week high of $38.86. The company has a current ratio of 0.84, a quick ratio of 0.53 and a debt-to-equity ratio of 0.21. The company has a market capitalization of $64.63 billion, a price-to-earnings ratio of 11.98 and a beta of 1.04.

Canadian Natural Resources (NYSE:CNQ - Get Free Report) TSE: CNQ last released its earnings results 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. The company had revenue of $6.96 billion for 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 quarter last year, the business earned $1.37 EPS. Equities analysts expect that Canadian Natural Resources Limited will post 2.45 earnings per share for the current year.

Canadian Natural Resources Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, July 3rd. Investors of record on Friday, June 13th will be given a dividend of $0.4227 per share. The ex-dividend date of this dividend is Friday, June 13th. This represents a $1.69 annualized dividend and a dividend yield of 5.48%. This is a boost from Canadian Natural Resources's previous quarterly dividend of $0.41. Canadian Natural Resources's dividend payout ratio (DPR) is currently 63.92%.

Wall Street Analysts Forecast Growth

CNQ has been the topic of a number of research analyst reports. Royal Bank of Canada reaffirmed an "outperform" rating and set a $63.00 price target on shares of Canadian Natural Resources in a report on Thursday, March 27th. Scotiabank upgraded shares of Canadian Natural Resources from a "sector perform" rating to a "sector outperform" rating in a report on Wednesday, March 19th. Tudor Pickering downgraded shares of Canadian Natural Resources from a "strong-buy" rating to a "hold" rating in a research report on Monday, February 10th. Raymond James raised Canadian Natural Resources from a "market perform" rating to an "outperform" rating in a report on Wednesday, April 9th. Finally, Evercore ISI upgraded Canadian Natural Resources from an "in-line" rating to an "outperform" rating in a research note on Friday, March 7th. Three 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, the company presently has a consensus rating of "Moderate Buy" and an average target price of $63.00.

Canadian Natural Resources 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).