Canadian Natural Resources Limited $CNQ Shares Sold by Groupama Asset Managment

Groupama Asset Managment lessened its holdings in Canadian Natural Resources Limited (NYSE:CNQ) (TSE:CNQ) by 36.4% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 23,724 shares of the oil and gas producer’s stock after selling 13,581 shares during the period. Groupama Asset Managment’s holdings in Canadian Natural Resources were worth $803,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Sunbelt Securities Inc. acquired a new position in shares of Canadian Natural Resources during the fourth quarter worth $25,000. Manchester Capital Management LLC acquired a new position in shares of Canadian Natural Resources in the 4th quarter worth approximately $28,000. Leonteq Securities AG acquired a new position in Canadian Natural Resources in the fourth quarter worth $31,000. GoalVest Advisory LLC acquired a new position in shares of Canadian Natural Resources in the 4th quarter valued at about $32,000. Finally, LOM Asset Management Ltd bought a new position in shares of Canadian Natural Resources during the fourth quarter valued at approximately $34,000. 74.03% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts have recently commented on the stock. The Goldman Sachs Group upped their price target on shares of Canadian Natural Resources from $37.00 to $49.00 and gave the stock a “buy” rating in a research report on Thursday, March 12th. Royal Bank Of Canada lifted their price target on Canadian Natural Resources from $61.00 to $65.00 and gave the company an “outperform” rating in a research report on Friday, March 6th. ATB Cormark Capital Markets lowered shares of Canadian Natural Resources from a “strong-buy” rating to a “moderate buy” rating in a research report on Thursday, March 5th. Raymond James Financial upgraded shares of Canadian Natural Resources from a “market perform” rating to an “outperform” rating in a research report on Thursday, May 7th. Finally, Scotiabank restated an “outperform” rating on shares of Canadian Natural Resources in a report on Wednesday, May 20th. Seven research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $57.00.

Canadian Natural Resources Stock Down 0.2%

CNQ opened at $40.97 on Friday. The company has a debt-to-equity ratio of 0.37, a current ratio of 0.98 and a quick ratio of 0.68. The firm’s fifty day moving average price is $45.91 and its two-hundred day moving average price is $41.68. Canadian Natural Resources Limited has a fifty-two week low of $29.30 and a fifty-two week high of $51.34. The company has a market capitalization of $85.27 billion, a P/E ratio of 12.23 and a beta of 0.45.

Canadian Natural Resources (NYSE:CNQ) (TSE:CNQ) last posted its quarterly earnings results on Thursday, May 7th. The oil and gas producer reported $0.85 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.74 by $0.11. Canadian Natural Resources had a net margin of 22.04% and a return on equity of 17.49%. The firm had revenue of $7.72 billion during the quarter, compared to analyst estimates of $7.57 billion. During the same quarter in the prior year, the business posted $1.16 earnings per share. On average, analysts anticipate that Canadian Natural Resources Limited will post 4.2 EPS for the current year.

Canadian Natural Resources Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 7th. Investors of record on Tuesday, June 23rd will be issued a dividend of $0.625 per share. This represents a $2.50 annualized dividend and a yield of 6.1%. The ex-dividend date of this dividend is Tuesday, June 23rd. Canadian Natural Resources’s dividend payout ratio (DPR) is currently 54.03%.

Canadian Natural Resources Company Profile

Canadian Natural Resources Limited (NYSE: CNQ) is a Calgary-based independent oil and natural gas exploration and production company. Established in the early 1970s and publicly listed in Canada and the United States, the company is principally engaged in the exploration, development, production, and marketing of crude oil, natural gas and natural gas liquids. Its asset base spans conventional and unconventional reservoirs and includes oil sands mining and in-situ thermal projects, midstream processing and upgrading capacity, and related field operations.

The company’s operations are concentrated in Western Canada, where it develops heavy crude, bitumen from oil sands and conventional light crude and natural gas resources.