Nuveen Asset Management LLC Sells 12,871 Shares of Canadian Natural Resources Limited (NYSE:CNQ)

Nuveen Asset Management LLC reduced its position in Canadian Natural Resources Limited (NYSE:CNQ) (TSE:CNQ) by 0.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,321,450 shares of the oil and gas producer’s stock after selling 12,871 shares during the quarter. Nuveen Asset Management LLC owned 0.11% of Canadian Natural Resources worth $71,635,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently made changes to their positions in CNQ. FMR LLC raised its holdings in shares of Canadian Natural Resources by 8.7% in the fourth quarter. FMR LLC now owns 92,550,104 shares of the oil and gas producer’s stock valued at $2,857,337,000 after acquiring an additional 7,372,718 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. raised its holdings in shares of Canadian Natural Resources by 31.6% in the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 13,433,797 shares of the oil and gas producer’s stock valued at $414,223,000 after acquiring an additional 3,224,548 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of Canadian Natural Resources by 30.1% in the fourth quarter. Geode Capital Management LLC now owns 12,708,163 shares of the oil and gas producer’s stock valued at $400,222,000 after acquiring an additional 2,939,866 shares in the last quarter. T. Rowe Price Investment Management Inc. raised its holdings in shares of Canadian Natural Resources by 7.3% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 34,052,775 shares of the oil and gas producer’s stock valued at $1,051,210,000 after acquiring an additional 2,312,437 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its holdings in Canadian Natural Resources by 87.0% in the fourth quarter. Bank of New York Mellon Corp now owns 4,437,771 shares of the oil and gas producer’s stock worth $136,994,000 after purchasing an additional 2,064,492 shares in the last quarter. 74.03% of the stock is currently owned by institutional investors.

Canadian Natural Resources Stock Performance

CNQ opened at $30.69 on Friday. Canadian Natural Resources Limited has a 52-week low of $24.65 and a 52-week high of $38.86. The company has a quick ratio of 0.53, a current ratio of 0.84 and a debt-to-equity ratio of 0.21. The company has a market cap of $64.28 billion, a P/E ratio of 11.92 and a beta of 1.04. The firm’s 50-day moving average price is $29.30 and its 200-day moving average price is $30.69.

Canadian Natural Resources (NYSE:CNQ) (TSE:CNQ) last posted its quarterly earnings data on Thursday, May 8th. The oil and gas producer reported $0.81 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.73 by $0.08. Canadian Natural Resources had a net margin of 18.45% and a return on equity of 20.07%. The firm had revenue of $6.96 billion for the quarter, compared to the consensus estimate of $10.14 billion. During the same quarter in the prior year, the company posted $1.37 earnings per share. As a group, equities analysts anticipate that Canadian Natural Resources Limited will post 2.45 EPS 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. Stockholders of record on Friday, June 13th will be issued a dividend of $0.4227 per share. The ex-dividend date of this dividend is Friday, June 13th. This represents a $1.69 annualized dividend and a dividend yield of 5.51%. This is an increase from Canadian Natural Resources’s previous quarterly dividend of $0.41. Canadian Natural Resources’s dividend payout ratio is 63.92%.

Analysts Set New Price Targets

A number of brokerages have commented on CNQ. Scotiabank upgraded shares of Canadian Natural Resources from a “sector perform” rating to a “sector outperform” rating in a report on Wednesday, March 19th. Tudor Pickering downgraded shares of Canadian Natural Resources from a “strong-buy” rating to a “hold” rating in a report on Monday, February 10th. Raymond James upgraded shares of Canadian Natural Resources from a “market perform” rating to an “outperform” rating in a report on Wednesday, April 9th. Royal Bank of Canada reiterated an “outperform” rating and issued a $63.00 target price on shares of Canadian Natural Resources in a report on Thursday, March 27th. Finally, Evercore ISI upgraded shares of Canadian Natural Resources from an “in-line” rating to an “outperform” rating in a report on Friday, March 7th. Three analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price 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).