Canadian Natural Resources Limited (NYSE:CNQ) Stock Position Reduced by Sagefield Capital LP

Sagefield Capital LP trimmed its position in Canadian Natural Resources Limited (NYSE:CNQ) (TSE:CNQ) by 11.8% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 316,313 shares of the oil and gas producer’s stock after selling 42,455 shares during the period. Canadian Natural Resources makes up about 1.1% of Sagefield Capital LP’s holdings, making the stock its 25th largest holding. Sagefield Capital LP’s holdings in Canadian Natural Resources were worth $9,765,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Duncker Streett & Co. Inc. acquired a new stake in Canadian Natural Resources in the 4th quarter valued at about $25,000. Lee Danner & Bass Inc. acquired a new position in shares of Canadian Natural Resources in the fourth quarter valued at approximately $25,000. Sandy Spring Bank acquired a new stake in Canadian Natural Resources during the 4th quarter valued at approximately $31,000. CoreFirst Bank & Trust bought a new position in shares of Canadian Natural Resources in the 4th quarter worth $31,000. Finally, Hurley Capital LLC bought a new position in Canadian Natural Resources during the 4th quarter valued at $31,000. 74.03% of the stock is currently owned by institutional investors and hedge funds.

Canadian Natural Resources Stock Down 0.7%

Shares of NYSE CNQ opened at $30.69 on Friday. The company has a market capitalization of $64.28 billion, a price-to-earnings ratio of 11.92 and a beta of 1.04. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.84 and a quick ratio of 0.53. The business has a 50-day moving average of $29.30 and a two-hundred day moving average of $30.72. Canadian Natural Resources Limited has a 1 year low of $24.65 and a 1 year high of $38.86.

Canadian Natural Resources (NYSE:CNQ) (TSE:CNQ) last issued its earnings results on Thursday, May 8th. The oil and gas producer reported $0.81 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.73 by $0.08. The business had revenue of $6.96 billion during the quarter, compared to the consensus estimate 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 prior year, the business posted $1.37 EPS. On average, analysts forecast 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 $0.4227 dividend. The ex-dividend date of this dividend is Friday, June 13th. This is a positive change from Canadian Natural Resources’s previous quarterly dividend of $0.41. This represents a $1.69 annualized dividend and a yield of 5.51%. Canadian Natural Resources’s dividend payout ratio (DPR) is 63.92%.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on CNQ. Scotiabank raised Canadian Natural Resources from a “sector perform” rating to a “sector outperform” rating in a report on Wednesday, March 19th. Raymond James raised Canadian Natural Resources from a “market perform” rating to an “outperform” rating in a report on Wednesday, April 9th. Tudor Pickering downgraded Canadian Natural Resources from a “strong-buy” rating to a “hold” rating in a research report on Monday, February 10th. Evercore ISI raised Canadian Natural Resources from an “in-line” rating to an “outperform” rating in a research report on Friday, March 7th. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $63.00 price objective on shares of Canadian Natural Resources in a 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. According to MarketBeat, Canadian Natural Resources has an average rating of “Moderate Buy” and an average price target of $63.00.

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).