Voloridge Investment Management LLC Cuts Stock Holdings in Canadian Natural Resources Limited (NYSE:CNQ)

Voloridge Investment Management LLC decreased its holdings in shares of Canadian Natural Resources Limited (NYSE:CNQ) (TSE:CNQ) by 2.5% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 3,684,143 shares of the oil and gas producer’s stock after selling 96,034 shares during the period. Voloridge Investment Management LLC owned 0.18% of Canadian Natural Resources worth $113,729,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Duncker Streett & Co. Inc. purchased a new position in Canadian Natural Resources during the 4th quarter valued at about $25,000. Lee Danner & Bass Inc. purchased a new position in Canadian Natural Resources during the 4th quarter valued at about $25,000. Hurley Capital LLC purchased a new position in Canadian Natural Resources during the 4th quarter valued at about $31,000. Sandy Spring Bank purchased a new position in Canadian Natural Resources during the 4th quarter valued at about $31,000. Finally, CoreFirst Bank & Trust purchased a new position in shares of Canadian Natural Resources in the 4th quarter worth approximately $31,000. Hedge funds and other institutional investors own 74.03% of the company’s stock.

Wall Street Analyst Weigh In

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

Canadian Natural Resources Stock Down 0.5%

CNQ stock opened at $30.55 on Tuesday. The firm has a 50 day moving average of $29.33 and a 200 day moving average of $30.65. The stock has a market capitalization of $63.99 billion, a PE ratio of 11.86 and a beta of 1.04. The company has a quick ratio of 0.53, a current ratio of 0.84 and a debt-to-equity ratio of 0.21. Canadian Natural Resources Limited has a 52 week low of $24.65 and a 52 week high of $38.86.

Canadian Natural Resources (NYSE:CNQ) (TSE:CNQ) last released its earnings results on Thursday, May 8th. The oil and gas producer reported $0.81 EPS for the quarter, topping analysts’ consensus estimates of $0.73 by $0.08. The company had revenue of $6.96 billion during the quarter, compared to analysts’ expectations of $10.14 billion. Canadian Natural Resources had a net margin of 18.45% and a return on equity of 20.07%. During the same period last year, the business earned $1.37 EPS. Sell-side analysts forecast that Canadian Natural Resources Limited will post 2.45 earnings per share for the current year.

Canadian Natural Resources Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, July 3rd. Investors of record on Friday, June 13th will be paid a $0.4227 dividend. The ex-dividend date 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 5.53%. Canadian Natural Resources’s dividend payout ratio (DPR) is 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).