OLD National Bancorp IN Cuts Position in Canadian Natural Resources Limited (NYSE:CNQ)

OLD National Bancorp IN decreased its holdings in Canadian Natural Resources Limited (NYSE:CNQ) (TSE:CNQ) by 7.9% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 11,584 shares of the oil and gas producer’s stock after selling 987 shares during the quarter. OLD National Bancorp IN’s holdings in Canadian Natural Resources were worth $759,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of CNQ. Central Bank & Trust Co. purchased a new position in shares of Canadian Natural Resources in the fourth quarter valued at $26,000. Janiczek Wealth Management LLC increased its position in shares of 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 buying an additional 173 shares in the last quarter. Federated Hermes Inc. purchased a new position in shares of Canadian Natural Resources in the fourth quarter valued at $61,000. Massmutual Trust Co. FSB ADV increased its position in shares of 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 buying an additional 187 shares in the last quarter. Finally, Washington Trust Advisors Inc. increased its position in shares of Canadian Natural Resources by 238.1% in the third quarter. Washington Trust Advisors Inc. now owns 1,136 shares of the oil and gas producer’s stock valued at $73,000 after buying an additional 800 shares in the last quarter. Hedge funds and other institutional investors own 74.03% of the company’s stock.

Canadian Natural Resources Stock Up 0.4 %

CNQ opened at $77.08 on Wednesday. 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 firm has a market cap of $82.64 billion, a P/E ratio of 13.91 and a beta of 1.54. Canadian Natural Resources Limited has a 52 week low of $52.66 and a 52 week high of $82.58. The business’s fifty day simple moving average is $73.20 and its 200 day simple moving average is $67.55.

Canadian Natural Resources (NYSE:CNQ) (TSE:CNQ) last issued its quarterly earnings results 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. Canadian Natural Resources had a return on equity of 21.74% and a net margin of 20.15%. The firm had revenue of $7.02 billion for the quarter, compared to analyst estimates of $6.73 billion. As a group, equities research analysts anticipate that Canadian Natural Resources Limited will post 5.7 EPS for the current fiscal 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 paid a $0.774 dividend. This represents a $3.10 dividend on an annualized basis and a yield of 4.02%. This is a positive change from Canadian Natural Resources’s previous quarterly dividend of $0.72. The ex-dividend date of this dividend was Thursday, March 14th. Canadian Natural Resources’s dividend payout ratio (DPR) is presently 53.25%.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on CNQ. Desjardins cut Canadian Natural Resources from a “buy” rating to a “hold” rating in a research report on Tuesday. JPMorgan Chase & Co. raised their price target 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. Six equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat.com, Canadian Natural Resources has a consensus rating of “Hold” and an average target price of $94.00.

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).