Deutsche Bank AG Reduces Stock Position in Canadian Natural Resources Limited (NYSE:CNQ)

Deutsche Bank AG cut its position in Canadian Natural Resources Limited (NYSE:CNQ) (TSE:CNQ) by 26.7% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 2,283,121 shares of the oil and gas producer’s stock after selling 829,553 shares during the period. Deutsche Bank AG owned approximately 0.11% of Canadian Natural Resources worth $70,480,000 at the end of the most recent quarter.

Several other institutional investors have also recently modified their holdings of CNQ. FMR LLC increased its holdings in Canadian Natural Resources by 8.7% in the 4th quarter. FMR LLC now owns 92,550,104 shares of the oil and gas producer’s stock worth $2,857,337,000 after buying an additional 7,372,718 shares during the period. Principal Securities Inc. increased its stake in shares of Canadian Natural Resources by 595.2% in the fourth quarter. Principal Securities Inc. now owns 6,987 shares of the oil and gas producer’s stock worth $216,000 after acquiring an additional 5,982 shares during the period. SG Americas Securities LLC increased its stake in shares of Canadian Natural Resources by 6.3% in the fourth quarter. SG Americas Securities LLC now owns 296,424 shares of the oil and gas producer’s stock worth $9,151,000 after acquiring an additional 17,694 shares during the period. CIBC Asset Management Inc raised its holdings in shares of Canadian Natural Resources by 5.6% during the fourth quarter. CIBC Asset Management Inc now owns 24,109,432 shares of the oil and gas producer’s stock worth $746,025,000 after purchasing an additional 1,270,945 shares during the last quarter. Finally, Bank of New York Mellon Corp lifted its position in Canadian Natural Resources by 87.0% during the fourth quarter. Bank of New York Mellon Corp now owns 4,437,771 shares of the oil and gas producer’s stock valued at $136,994,000 after purchasing an additional 2,064,492 shares during the period. 74.03% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

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

Canadian Natural Resources Price Performance

Shares of Canadian Natural Resources stock opened at $31.40 on Tuesday. The firm has a market cap of $65.78 billion, a PE ratio of 12.20 and a beta of 1.04. 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 business has a 50-day moving average price of $29.06 and a 200 day moving average price of $30.75.

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 EPS for the quarter, beating analysts’ consensus estimates of $0.73 by $0.08. The business had revenue of $6.96 billion during the quarter, compared to analysts’ expectations of $10.14 billion. Canadian Natural Resources had a return on equity of 20.07% and a net margin of 18.45%. During the same period in the previous year, the business earned $1.37 earnings per share. Sell-side analysts predict that Canadian Natural Resources Limited will post 2.45 earnings per share for the current fiscal year.

Canadian Natural Resources Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 3rd. Shareholders of record on Friday, June 13th will be given a dividend of $0.4227 per share. The ex-dividend date of this dividend is Friday, June 13th. 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 yield of 5.38%. Canadian Natural Resources’s dividend payout ratio is currently 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).