Balyasny Asset Management L.P. Trims Holdings in Canadian Natural Resources Limited (NYSE:CNQ)

Balyasny Asset Management L.P. reduced its holdings in shares of Canadian Natural Resources Limited (NYSE:CNQ) (TSE:CNQ) by 60.5% during the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 1,476,500 shares of the oil and gas producer’s stock after selling 2,259,300 shares during the period. Balyasny Asset Management L.P.’s holdings in Canadian Natural Resources were worth $45,578,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently bought and sold shares of CNQ. Banque Transatlantique SA purchased a new position in shares of Canadian Natural Resources in the 4th quarter valued at approximately $460,000. Bearing Point Capital LLC purchased a new position in Canadian Natural Resources in the 4th quarter valued at $445,000. BNP Paribas Financial Markets increased its stake in Canadian Natural Resources by 66.5% in the 4th quarter. BNP Paribas Financial Markets now owns 239,932 shares of the oil and gas producer’s stock valued at $7,407,000 after buying an additional 95,793 shares during the period. Algert Global LLC raised its position in Canadian Natural Resources by 22.8% during the 4th quarter. Algert Global LLC now owns 56,154 shares of the oil and gas producer’s stock worth $1,732,000 after buying an additional 10,436 shares during the last quarter. Finally, Wahed Invest LLC lifted its stake in shares of Canadian Natural Resources by 12.5% in the 4th quarter. Wahed Invest LLC now owns 31,929 shares of the oil and gas producer’s stock worth $985,000 after acquiring an additional 3,542 shares during the period. 74.03% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

CNQ has been the subject of several analyst reports. Raymond James raised shares of Canadian Natural Resources from a “market perform” rating to an “outperform” rating in a report on Wednesday, April 9th. Scotiabank raised Canadian Natural Resources from a “sector perform” rating to a “sector outperform” rating in a report on Wednesday, March 19th. Tudor Pickering lowered Canadian Natural Resources from a “strong-buy” rating to a “hold” rating in a report on Monday, February 10th. Evercore ISI raised Canadian Natural Resources from an “in-line” rating to an “outperform” rating in a report on Friday, March 7th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $63.00 price target on shares of Canadian Natural Resources in a research note on Thursday, March 27th. Three research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $63.00.

Canadian Natural Resources Stock Performance

NYSE CNQ opened at $28.00 on Tuesday. The business has a 50 day moving average price of $28.83 and a 200 day moving average price of $30.95. The company has a market capitalization of $58.73 billion, a P/E ratio of 10.87 and a beta of 1.04. Canadian Natural Resources Limited has a 1-year low of $24.65 and a 1-year high of $39.20. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.84 and a quick ratio of 0.53.

Canadian Natural Resources Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, April 4th. Stockholders of record on Friday, March 21st were paid a dividend of $0.4117 per share. This represents a $1.65 annualized dividend and a dividend yield of 5.88%. The ex-dividend date of this dividend was Friday, March 21st. This is an increase from Canadian Natural Resources’s previous quarterly dividend of $0.39. Canadian Natural Resources’s payout ratio is 77.88%.

Canadian Natural Resources Company 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).