Janus Henderson Group PLC Reduces Position in Canadian Natural Resources Limited (NYSE:CNQ)

Janus Henderson Group PLC cut its holdings in shares of Canadian Natural Resources Limited (NYSE:CNQ) (TSE:CNQ) by 13.8% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 7,801,982 shares of the oil and gas producer’s stock after selling 1,246,967 shares during the period. Janus Henderson Group PLC’s holdings in Canadian Natural Resources were worth $240,852,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Duncker Streett & Co. Inc. purchased a new stake in shares of Canadian Natural Resources during the fourth quarter valued at $25,000. Lee Danner & Bass Inc. purchased a new position in Canadian Natural Resources in the fourth quarter worth about $25,000. Sandy Spring Bank purchased a new position in Canadian Natural Resources in the fourth quarter worth about $31,000. CoreFirst Bank & Trust purchased a new position in Canadian Natural Resources in the fourth quarter worth about $31,000. Finally, Hurley Capital LLC purchased a new position in Canadian Natural Resources in the fourth quarter worth about $31,000. 74.03% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

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

Canadian Natural Resources Stock Up 1.6%

CNQ stock opened at $30.53 on Monday. Canadian Natural Resources Limited has a twelve month low of $24.65 and a twelve month high of $38.86. The company has a quick ratio of 0.53, a current ratio of 0.84 and a debt-to-equity ratio of 0.21. The stock has a market cap of $63.95 billion, a P/E ratio of 11.86 and a beta of 1.04. The business’s 50-day moving average price is $28.98 and its 200-day moving average price is $30.78.

Canadian Natural Resources (NYSE:CNQ) (TSE:CNQ) last posted its quarterly earnings data on Thursday, May 8th. The oil and gas producer reported $0.81 earnings per share for the quarter, beating analysts’ consensus estimates of $0.73 by $0.08. Canadian Natural Resources had a return on equity of 20.07% and a net margin of 18.45%. The firm had revenue of $6.96 billion for the quarter, compared to analysts’ expectations of $10.14 billion. During the same period in the previous year, the firm earned $1.37 EPS. On average, equities research analysts forecast that Canadian Natural Resources Limited will post 2.45 EPS for the current 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 given a dividend of $0.4227 per share. This is a boost from Canadian Natural Resources’s previous quarterly dividend of $0.41. This represents a $1.69 dividend on an annualized basis and a dividend yield of 5.54%. The ex-dividend date of this dividend is Friday, June 13th. Canadian Natural Resources’s payout ratio is presently 63.92%.

About Canadian Natural Resources

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).