Laird Norton Wetherby Wealth Management LLC Has $861,000 Stock Position in Canadian Natural Resources Limited (NYSE:CNQ)

Laird Norton Wetherby Wealth Management LLC reduced its holdings in shares of Canadian Natural Resources Limited (NYSE:CNQ) (TSE:CNQ) by 7.1% in the fourth quarter, Holdings Channel reports. The institutional investor owned 27,901 shares of the oil and gas producer’s stock after selling 2,121 shares during the period. Laird Norton Wetherby Wealth Management LLC’s holdings in Canadian Natural Resources were worth $861,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in CNQ. Fifth Third Bancorp increased its holdings in Canadian Natural Resources by 51.0% during the 4th quarter. Fifth Third Bancorp now owns 1,271 shares of the oil and gas producer’s stock worth $39,000 after acquiring an additional 429 shares during the period. Assetmark Inc. increased its holdings in Canadian Natural Resources by 57.3% during the 4th quarter. Assetmark Inc. now owns 1,205 shares of the oil and gas producer’s stock worth $37,000 after acquiring an additional 439 shares during the period. Orion Portfolio Solutions LLC increased its holdings in Canadian Natural Resources by 0.6% during the 4th quarter. Orion Portfolio Solutions LLC now owns 81,954 shares of the oil and gas producer’s stock worth $2,530,000 after acquiring an additional 497 shares during the period. Global Retirement Partners LLC increased its holdings in Canadian Natural Resources by 4.5% during the 4th quarter. Global Retirement Partners LLC now owns 11,993 shares of the oil and gas producer’s stock worth $370,000 after acquiring an additional 514 shares during the period. Finally, Waterfront Wealth Inc. increased its holdings in Canadian Natural Resources by 1.8% during the 4th quarter. Waterfront Wealth Inc. now owns 30,132 shares of the oil and gas producer’s stock worth $930,000 after acquiring an additional 520 shares during the period. 74.03% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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

Canadian Natural Resources Price Performance

Shares of NYSE:CNQ opened at $31.54 on Thursday. The company’s fifty day moving average price is $29.21 and its 200-day moving average price is $30.77. The firm has a market capitalization of $66.07 billion, a price-to-earnings ratio of 12.25 and a beta of 1.04. Canadian Natural Resources Limited has a one year low of $24.65 and a one year high of $38.86. 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 (NYSE:CNQ) (TSE:CNQ) last announced its quarterly earnings data on Thursday, May 8th. The oil and gas producer reported $0.81 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.73 by $0.08. Canadian Natural Resources had a net margin of 18.45% and a return on equity of 20.07%. The company had revenue of $6.96 billion during the quarter, compared to analysts’ expectations of $10.14 billion. During the same quarter in the prior year, the company earned $1.37 EPS. On average, equities research analysts anticipate that Canadian Natural Resources Limited will post 2.45 earnings per share for the current fiscal year.

Canadian Natural Resources Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, July 3rd. Stockholders of record on Friday, June 13th will be paid a $0.4227 dividend. This is a boost from Canadian Natural Resources’s previous quarterly dividend of $0.41. The ex-dividend date of this dividend is Friday, June 13th. This represents a $1.69 dividend on an annualized basis and a dividend yield of 5.36%. Canadian Natural Resources’s dividend payout ratio is 63.92%.

Canadian Natural Resources 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).