DekaBank Deutsche Girozentrale Cuts Holdings in Canadian Natural Resources Limited (NYSE:CNQ)

DekaBank Deutsche Girozentrale decreased its position in Canadian Natural Resources Limited (NYSE:CNQ) (TSE:CNQ) by 1.9% in the first quarter, Holdings Channel reports. The institutional investor owned 1,400,616 shares of the oil and gas producer’s stock after selling 27,129 shares during the period. DekaBank Deutsche Girozentrale’s holdings in Canadian Natural Resources were worth $42,334,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Assetmark Inc. boosted its position in Canadian Natural Resources by 57.3% during the fourth 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 last quarter. Thurston Springer Miller Herd & Titak Inc. boosted its holdings in Canadian Natural Resources by 10.2% in the 1st quarter. Thurston Springer Miller Herd & Titak Inc. now owns 5,165 shares of the oil and gas producer’s stock valued at $159,000 after purchasing an additional 480 shares during the last quarter. Orion Portfolio Solutions LLC boosted its holdings in Canadian Natural Resources by 0.6% in the 4th quarter. Orion Portfolio Solutions LLC now owns 81,954 shares of the oil and gas producer’s stock valued at $2,530,000 after purchasing an additional 497 shares during the last quarter. AdvisorNet Financial Inc boosted its holdings in Canadian Natural Resources by 8.0% in the 1st quarter. AdvisorNet Financial Inc now owns 7,065 shares of the oil and gas producer’s stock valued at $218,000 after purchasing an additional 525 shares during the last quarter. Finally, MML Investors Services LLC boosted its holdings in Canadian Natural Resources by 1.0% in the 4th quarter. MML Investors Services LLC now owns 55,045 shares of the oil and gas producer’s stock valued at $1,699,000 after purchasing an additional 528 shares during the last quarter. 74.03% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

CNQ has been the subject of several research analyst reports. Raymond James Financial upgraded shares of Canadian Natural Resources from a “market perform” rating to an “outperform” rating in a report on Wednesday, April 9th. Scotiabank upgraded shares of Canadian Natural Resources from a “sector perform” rating to a “sector outperform” rating in a report on Wednesday, March 19th. Finally, Royal Bank Of Canada restated an “outperform” rating and issued a $63.00 target price 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’s stock. According to data from MarketBeat, Canadian Natural Resources currently has an average rating of “Moderate Buy” and an average target price of $63.00.

Canadian Natural Resources Stock Performance

NYSE:CNQ opened at $32.11 on Wednesday. The company has a current ratio of 0.84, a quick ratio of 0.53 and a debt-to-equity ratio of 0.40. The firm has a 50-day moving average price of $31.33 and a two-hundred day moving average price of $30.37. Canadian Natural Resources Limited has a twelve month low of $24.65 and a twelve month high of $37.91. The company has a market capitalization of $67.17 billion, a P/E ratio of 12.59 and a beta of 1.03.

Canadian Natural Resources (NYSE:CNQ) (TSE:CNQ) last issued its quarterly 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 business had revenue of $6.96 billion during the quarter, compared to the consensus estimate of $10.14 billion. Canadian Natural Resources had a net margin of 16.92% and a return on equity of 20.90%. During the same period in the previous year, the firm posted $1.37 earnings per share. As a group, research analysts expect that Canadian Natural Resources Limited will post 2.45 earnings per share for the current fiscal year.

Canadian Natural Resources Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, July 3rd. Stockholders of record on Friday, June 13th were issued a dividend of $0.4227 per share. The ex-dividend date of this dividend was Friday, June 13th. This is an increase 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 5.27%. Canadian Natural Resources’s payout ratio is 67.06%.

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).