Crossmark Global Holdings Inc. Cuts Stock Position in Canadian Natural Resources Limited $CNQ

Crossmark Global Holdings Inc. lessened its stake in shares of Canadian Natural Resources Limited (NYSE:CNQ) (TSE:CNQ) by 6.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 405,480 shares of the oil and gas producer’s stock after selling 27,585 shares during the quarter. Crossmark Global Holdings Inc.’s holdings in Canadian Natural Resources were worth $13,726,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. St. Johns Investment Management Company LLC purchased a new stake in shares of Canadian Natural Resources during the third quarter worth approximately $32,000. Nisa Investment Advisors LLC raised its stake in shares of Canadian Natural Resources by 100.0% during the third quarter. Nisa Investment Advisors LLC now owns 1,000 shares of the oil and gas producer’s stock worth $32,000 after purchasing an additional 500 shares during the last quarter. GoalVest Advisory LLC purchased a new stake in shares of Canadian Natural Resources during the fourth quarter worth approximately $32,000. Quarry LP purchased a new stake in shares of Canadian Natural Resources during the third quarter worth approximately $32,000. Finally, LOM Asset Management Ltd purchased a new stake in shares of Canadian Natural Resources during the fourth quarter worth approximately $34,000. Hedge funds and other institutional investors own 74.03% of the company’s stock.

Canadian Natural Resources Trading Down 0.5%

NYSE:CNQ opened at $44.52 on Friday. The stock has a fifty day moving average price of $46.63 and a two-hundred day moving average price of $38.73. The stock has a market capitalization of $92.87 billion, a price-to-earnings ratio of 13.29 and a beta of 0.47. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.63 and a current ratio of 0.95. Canadian Natural Resources Limited has a 1 year low of $29.30 and a 1 year high of $51.34.

Canadian Natural Resources (NYSE:CNQ) (TSE:CNQ) last released its quarterly earnings data on Thursday, May 7th. The oil and gas producer reported $0.85 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.74 by $0.11. The firm had revenue of $7.72 billion during the quarter, compared to analysts’ expectations of $7.57 billion. Canadian Natural Resources had a return on equity of 17.80% and a net margin of 22.04%.During the same quarter in the prior year, the business posted $1.16 earnings per share. As a group, sell-side analysts anticipate that Canadian Natural Resources Limited will post 3.17 earnings per share for the current fiscal year.

Canadian Natural Resources Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 7th. Shareholders of record on Friday, June 19th will be issued a $0.625 dividend. The ex-dividend date of this dividend is Thursday, June 18th. This represents a $2.50 annualized dividend and a yield of 5.6%. Canadian Natural Resources’s dividend payout ratio is 49.59%.

Wall Street Analyst Weigh In

CNQ has been the subject of several analyst reports. Weiss Ratings upgraded Canadian Natural Resources from a “hold (c+)” rating to a “buy (b)” rating in a research note on Friday, March 27th. The Goldman Sachs Group upped their price target on Canadian Natural Resources from $37.00 to $49.00 and gave the stock a “buy” rating in a research note on Thursday, March 12th. Wall Street Zen upgraded Canadian Natural Resources from a “sell” rating to a “hold” rating in a research note on Saturday, January 31st. Royal Bank Of Canada upped their price target on Canadian Natural Resources from $61.00 to $65.00 and gave the stock an “outperform” rating in a research note on Friday, March 6th. Finally, Raymond James Financial upgraded Canadian Natural Resources from a “market perform” rating to an “outperform” rating in a research report on Thursday. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat, Canadian Natural Resources presently has a consensus rating of “Moderate Buy” and a consensus target price of $57.00.

Key Headlines Impacting Canadian Natural Resources

Here are the key news stories impacting Canadian Natural Resources this week:

• Positive Sentiment: Canadian Natural Resources beat Q1 expectations, with earnings and revenue coming in above analyst estimates; that kind of outperformance can support the stock as investors reward better-than-expected operating results. Article Title
• Positive Sentiment: Raymond James upgraded Canadian Natural Resources from “market perform” to “outperform,” while Zacks Research also raised its view to “strong-buy,” signaling improved analyst confidence in CNQ’s outlook. Article Title
• Positive Sentiment: The company declared a quarterly dividend of C$0.625 per share, underscoring its cash-return profile and offering investors a 5.6% annualized yield, which can attract income-focused buyers. Article Title
• Neutral Sentiment: CNQ also released first-quarter results showing strong revenue but softer profitability metrics versus last year, including lower gross profit, operating profit, and EPS year over year, which may temper enthusiasm even after the earnings beat. Article Title

About Canadian Natural Resources

Canadian Natural Resources Limited (NYSE: CNQ) is a Calgary-based independent oil and natural gas exploration and production company. Established in the early 1970s and publicly listed in Canada and the United States, the company is principally engaged in the exploration, development, production, and marketing of crude oil, natural gas and natural gas liquids. Its asset base spans conventional and unconventional reservoirs and includes oil sands mining and in-situ thermal projects, midstream processing and upgrading capacity, and related field operations.

The company’s operations are concentrated in Western Canada, where it develops heavy crude, bitumen from oil sands and conventional light crude and natural gas resources.