Canadian Natural Resources Limited $CNQ Position Lowered by JTC Employer Solutions Trustee Ltd

JTC Employer Solutions Trustee Ltd trimmed its holdings in Canadian Natural Resources Limited (NYSE:CNQ) (TSE:CNQ) by 12.6% in the 1st quarter, according to its most recent filing with the SEC. The institutional investor owned 537,646 shares of the oil and gas producer’s stock after selling 77,389 shares during the quarter. Canadian Natural Resources comprises approximately 2.2% of JTC Employer Solutions Trustee Ltd’s portfolio, making the stock its 6th biggest position. JTC Employer Solutions Trustee Ltd’s holdings in Canadian Natural Resources were worth $26,124,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of the business. Sunbelt Securities Inc. purchased a new stake in shares of Canadian Natural Resources during the 4th quarter valued at about $25,000. Manchester Capital Management LLC purchased a new position in shares of Canadian Natural Resources during the fourth quarter valued at approximately $28,000. Leonteq Securities AG bought a new position in Canadian Natural Resources during the fourth quarter valued at approximately $31,000. LOM Asset Management Ltd bought a new position in Canadian Natural Resources during the fourth quarter valued at approximately $34,000. Finally, Quarry LP purchased a new stake in Canadian Natural Resources in the third quarter worth approximately $32,000. Hedge funds and other institutional investors own 74.03% of the company’s stock.

Canadian Natural Resources Stock Up 5.2%

Shares of CNQ stock opened at $46.49 on Thursday. The company has a current ratio of 0.98, a quick ratio of 0.68 and a debt-to-equity ratio of 0.37. Canadian Natural Resources Limited has a 12 month low of $29.30 and a 12 month high of $51.34. The stock has a market cap of $96.50 billion, a P/E ratio of 13.88 and a beta of 0.47. The company has a 50 day simple moving average of $43.73 and a two-hundred day simple moving average of $43.58.

Canadian Natural Resources (NYSE:CNQ) (TSE:CNQ) last issued its quarterly earnings results on Thursday, May 7th. The oil and gas producer reported $0.85 earnings per share for the quarter, topping the consensus estimate of $0.74 by $0.11. The business had revenue of $7.72 billion for the quarter, compared to analysts’ expectations of $7.57 billion. Canadian Natural Resources had a net margin of 22.04% and a return on equity of 17.49%. During the same quarter last year, the company posted $1.16 EPS. On average, research analysts expect that Canadian Natural Resources Limited will post 3.89 earnings per share for the current year.

Canadian Natural Resources Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, July 7th. Investors of record on Tuesday, June 23rd were given a dividend of $0.625 per share. The ex-dividend date was Tuesday, June 23rd. This represents a $2.50 annualized dividend and a yield of 5.4%. Canadian Natural Resources’s payout ratio is 54.03%.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on CNQ. Zacks Research upgraded shares of Canadian Natural Resources from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, July 21st. Scotiabank upgraded Canadian Natural Resources to a “hold” rating in a research note on Friday, June 26th. Weiss Ratings lowered Canadian Natural Resources from a “buy (b)” rating to a “buy (b-)” rating in a report on Monday, May 11th. Raymond James Financial upgraded Canadian Natural Resources from a “market perform” rating to an “outperform” rating in a research report on Thursday, May 7th. Finally, Desjardins raised Canadian Natural Resources to a “hold” rating in a report on Thursday, July 16th. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat.com, Canadian Natural Resources presently has a consensus rating of “Moderate Buy” and a consensus target price of $57.00.

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.