Cannell & Spears LLC Sells 20,650 Shares of Canadian Natural Resources Limited $CNQ

Cannell & Spears LLC reduced its position in Canadian Natural Resources Limited (NYSE:CNQ) (TSE:CNQ) by 40.8% in the 1st quarter, HoldingsChannel reports. The firm owned 29,984 shares of the oil and gas producer’s stock after selling 20,650 shares during the period. Cannell & Spears LLC’s holdings in Canadian Natural Resources were worth $1,461,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of CNQ. AQR Capital Management LLC lifted its position in shares of Canadian Natural Resources by 85.5% in the first quarter. AQR Capital Management LLC now owns 18,090 shares of the oil and gas producer’s stock valued at $557,000 after buying an additional 8,336 shares during the last quarter. Jones Financial Companies Lllp increased its holdings in shares of Canadian Natural Resources by 92.7% during the 1st quarter. Jones Financial Companies Lllp now owns 29,096 shares of the oil and gas producer’s stock worth $896,000 after acquiring an additional 13,996 shares during the last quarter. Empowered Funds LLC increased its holdings in shares of Canadian Natural Resources by 4.3% during the 1st quarter. Empowered Funds LLC now owns 79,374 shares of the oil and gas producer’s stock worth $2,445,000 after acquiring an additional 3,266 shares during the last quarter. Geneos Wealth Management Inc. increased its holdings in shares of Canadian Natural Resources by 47.3% during the 1st quarter. Geneos Wealth Management Inc. now owns 1,644 shares of the oil and gas producer’s stock worth $51,000 after acquiring an additional 528 shares during the last quarter. Finally, EverSource Wealth Advisors LLC raised its stake in Canadian Natural Resources by 65.5% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 4,513 shares of the oil and gas producer’s stock valued at $142,000 after acquiring an additional 1,786 shares during the period. Institutional investors own 74.03% of the company’s stock.

Canadian Natural Resources Stock Performance

NYSE:CNQ opened at $46.45 on Friday. The stock has a market cap of $96.40 billion, a P/E ratio of 13.86 and a beta of 0.47. The stock has a 50 day simple moving average of $43.96 and a 200 day simple moving average of $43.20. The company has a current ratio of 0.98, a quick ratio of 0.68 and a debt-to-equity ratio of 0.37. 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 results on Thursday, May 7th. The oil and gas producer reported $0.85 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.74 by $0.11. Canadian Natural Resources had a return on equity of 17.49% and a net margin of 22.04%.The business had revenue of $7.72 billion during the quarter, compared to the consensus estimate of $7.57 billion. During the same period in the previous year, the company posted $1.16 EPS. Research analysts anticipate that Canadian Natural Resources Limited will post 3.89 earnings per share for the current year.

Canadian Natural Resources Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, July 7th. Stockholders of record on Tuesday, June 23rd were issued a dividend of $0.625 per share. The ex-dividend date of this dividend was Tuesday, June 23rd. This represents a $2.50 dividend on an annualized basis and a dividend yield of 5.4%. Canadian Natural Resources’s dividend payout ratio (DPR) is currently 54.03%.

Wall Street Analyst Weigh In

CNQ has been the subject of several research reports. Desjardins raised Canadian Natural Resources to a “hold” rating in a report on Thursday, July 16th. Weiss Ratings lowered shares of Canadian Natural Resources from a “buy (b)” rating to a “buy (b-)” rating in a research report on Monday, May 11th. Zacks Research raised shares of Canadian Natural Resources from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, July 21st. Scotiabank upgraded shares of Canadian Natural Resources to a “hold” rating in a research note on Friday, June 26th. Finally, Raymond James Financial raised shares of Canadian Natural Resources from a “market perform” rating to an “outperform” rating in a report on Thursday, May 7th. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $57.00.

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.