Sequent Planning LLC Sells 20,223 Shares of Canadian Natural Resources Limited $CNQ

Sequent Planning LLC decreased its position in shares of Canadian Natural Resources Limited (NYSE:CNQ) (TSE:CNQ) by 75.8% during the fourth quarter, HoldingsChannel reports. The fund owned 6,452 shares of the oil and gas producer’s stock after selling 20,223 shares during the quarter. Sequent Planning LLC’s holdings in Canadian Natural Resources were worth $218,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of the company. Vanguard Group Inc. increased its position in Canadian Natural Resources by 0.9% during the fourth quarter. Vanguard Group Inc. now owns 93,305,198 shares of the oil and gas producer’s stock valued at $3,160,340,000 after acquiring an additional 818,809 shares during the last quarter. Massachusetts Financial Services Co. MA increased its position in Canadian Natural Resources by 179.2% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 11,616,347 shares of the oil and gas producer’s stock valued at $393,213,000 after acquiring an additional 7,455,286 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. increased its position in Canadian Natural Resources by 11.4% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 9,614,291 shares of the oil and gas producer’s stock valued at $307,344,000 after acquiring an additional 983,892 shares during the last quarter. Dimensional Fund Advisors LP increased its position in Canadian Natural Resources by 11.2% during the third quarter. Dimensional Fund Advisors LP now owns 9,304,783 shares of the oil and gas producer’s stock valued at $297,402,000 after acquiring an additional 934,708 shares during the last quarter. Finally, Bank of America Corp DE increased its position in Canadian Natural Resources by 17.6% during the third quarter. Bank of America Corp DE now owns 9,172,873 shares of the oil and gas producer’s stock valued at $293,165,000 after acquiring an additional 1,371,122 shares during the last quarter. Institutional investors own 74.03% of the company’s stock.

Canadian Natural Resources Trading Up 1.9%

NYSE CNQ opened at $48.90 on Tuesday. The company’s 50-day moving average price is $47.04 and its 200-day moving average price is $39.52. The company has a current ratio of 0.98, a quick ratio of 0.68 and a debt-to-equity ratio of 0.37. The stock has a market cap of $101.72 billion, a PE ratio of 14.60 and a beta of 0.47. Canadian Natural Resources Limited has a 12 month low of $29.30 and a 12 month high of $51.34.

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 EPS for the quarter, topping analysts’ consensus estimates of $0.74 by $0.11. The firm 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 period in the prior year, the business posted $1.16 earnings per share. Equities research analysts forecast that Canadian Natural Resources Limited will post 4.09 earnings per share for the current year.

Canadian Natural Resources Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 7th. Stockholders of record on Tuesday, June 23rd will be issued a $0.625 dividend. The ex-dividend date is Tuesday, June 23rd. This represents a $2.50 dividend on an annualized basis and a dividend yield of 5.1%. Canadian Natural Resources’s dividend payout ratio is presently 54.63%.

Analysts Set New Price Targets

A number of research analysts have weighed in on the stock. Zacks Research upgraded shares of Canadian Natural Resources from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, May 5th. Royal Bank Of Canada boosted their price objective on shares of Canadian Natural Resources from $61.00 to $65.00 and gave the company an “outperform” rating in a research report on Friday, March 6th. Weiss Ratings cut shares of Canadian Natural Resources from a “buy (b)” rating to a “buy (b-)” rating in a research report on Monday, May 11th. The Goldman Sachs Group boosted their price objective on shares of Canadian Natural Resources from $37.00 to $49.00 and gave the company a “buy” rating in a research report on Thursday, March 12th. Finally, ATB Cormark Capital Markets cut shares of Canadian Natural Resources from a “strong-buy” rating to a “moderate buy” rating in a research report on Thursday, March 5th. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and four have given a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $57.00.

Canadian Natural Resources 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.