SIR Capital Management L.P. Cuts Stock Position in Canadian Natural Resources Limited (NYSE:CNQ)

SIR Capital Management L.P. lessened its holdings in shares of Canadian Natural Resources Limited (NYSE:CNQ - Free Report) TSE: CNQ by 79.2% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 270,787 shares of the oil and gas producer's stock after selling 1,029,782 shares during the period. SIR Capital Management L.P.'s holdings in Canadian Natural Resources were worth $8,359,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in CNQ. Recurrent Investment Advisors LLC bought a new position in Canadian Natural Resources in the 4th quarter valued at approximately $1,822,000. Quantinno Capital Management LP lifted its position in Canadian Natural Resources by 0.8% in the 4th quarter. Quantinno Capital Management LP now owns 238,719 shares of the oil and gas producer's stock valued at $7,369,000 after acquiring an additional 1,872 shares in the last quarter. Parkwood LLC lifted its position in Canadian Natural Resources by 5.1% in the 4th quarter. Parkwood LLC now owns 535,384 shares of the oil and gas producer's stock valued at $16,527,000 after acquiring an additional 26,035 shares in the last quarter. Malaga Cove Capital LLC lifted its position in Canadian Natural Resources by 95.0% in the 4th quarter. Malaga Cove Capital LLC now owns 15,728 shares of the oil and gas producer's stock valued at $486,000 after acquiring an additional 7,661 shares in the last quarter. Finally, Numerai GP LLC bought a new position in Canadian Natural Resources in the 4th quarter valued at approximately $584,000. Hedge funds and other institutional investors own 74.03% of the company's stock.

Canadian Natural Resources Stock Performance

Shares of NYSE:CNQ traded down $0.15 during midday trading on Monday, hitting $30.55. The company had a trading volume of 2,939,785 shares, compared to its average volume of 5,477,741. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.84 and a quick ratio of 0.53. The company has a market cap of $63.99 billion, a price-to-earnings ratio of 11.86 and a beta of 1.04. Canadian Natural Resources Limited has a 12-month low of $24.65 and a 12-month high of $38.86. The company has a fifty day moving average of $29.30 and a two-hundred day moving average of $30.67.

Canadian Natural Resources (NYSE:CNQ - Get Free Report) TSE: CNQ last posted its quarterly earnings data on Thursday, May 8th. The oil and gas producer reported $0.81 EPS for the quarter, topping the consensus estimate of $0.73 by $0.08. The firm had revenue of $6.96 billion during the quarter, compared to analyst estimates of $10.14 billion. Canadian Natural Resources had a return on equity of 20.07% and a net margin of 18.45%. During the same period in the prior year, the business posted $1.37 EPS. On average, equities research analysts expect that Canadian Natural Resources Limited will post 2.45 EPS for the current fiscal year.

Canadian Natural Resources Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 3rd. Stockholders of record on Friday, June 13th will be paid a $0.4227 dividend. This represents a $1.69 annualized dividend and a dividend yield of 5.53%. This is a positive change from Canadian Natural Resources's previous quarterly dividend of $0.41. The ex-dividend date is Friday, June 13th. Canadian Natural Resources's dividend payout ratio is 63.92%.

Wall Street Analyst Weigh In

Several research firms recently issued reports on CNQ. Tudor Pickering cut Canadian Natural Resources from a "strong-buy" rating to a "hold" rating in a research report on Monday, February 10th. Royal Bank of Canada reissued an "outperform" rating and set a $63.00 price target on shares of Canadian Natural Resources in a report on Thursday, March 27th. Raymond James raised Canadian Natural Resources from a "market perform" rating to an "outperform" rating in a report on Wednesday, April 9th. Evercore ISI raised Canadian Natural Resources from an "in-line" rating to an "outperform" rating in a report on Friday, March 7th. Finally, Scotiabank raised Canadian Natural Resources from a "sector perform" rating to a "sector outperform" rating in a report on Wednesday, March 19th. Three research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat, Canadian Natural Resources presently has a consensus rating of "Moderate Buy" and an average price target 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).