OLD National Bancorp IN Sells 6,001 Shares of Canadian Natural Resources Limited (NYSE:CNQ)

OLD National Bancorp IN reduced its stake in Canadian Natural Resources Limited (NYSE:CNQ) (TSE:CNQ) by 37.2% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 10,111 shares of the oil and gas producer’s stock after selling 6,001 shares during the quarter. OLD National Bancorp IN’s holdings in Canadian Natural Resources were worth $311,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Stokes Capital Advisors LLC increased its stake in shares of Canadian Natural Resources by 17.8% during the 1st quarter. Stokes Capital Advisors LLC now owns 205,814 shares of the oil and gas producer’s stock worth $6,339,000 after purchasing an additional 31,130 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. increased its stake in shares of Canadian Natural Resources by 10.2% during the 1st quarter. Thurston Springer Miller Herd & Titak Inc. now owns 5,165 shares of the oil and gas producer’s stock worth $159,000 after purchasing an additional 480 shares during the last quarter. Peak Financial Advisors LLC increased its stake in shares of Canadian Natural Resources by 0.7% during the 1st quarter. Peak Financial Advisors LLC now owns 77,253 shares of the oil and gas producer’s stock worth $2,379,000 after purchasing an additional 557 shares during the last quarter. Unigestion Holding SA increased its stake in shares of Canadian Natural Resources by 19.3% during the 1st quarter. Unigestion Holding SA now owns 693,037 shares of the oil and gas producer’s stock worth $21,329,000 after purchasing an additional 112,103 shares during the last quarter. Finally, Merit Financial Group LLC increased its stake in shares of Canadian Natural Resources by 21.4% during the 1st quarter. Merit Financial Group LLC now owns 11,197 shares of the oil and gas producer’s stock worth $345,000 after purchasing an additional 1,975 shares during the last quarter. 74.03% of the stock is owned by institutional investors.

Analyst Ratings Changes

CNQ has been the topic of a number of research reports. Scotiabank upgraded shares of Canadian Natural Resources from a “sector perform” rating to a “sector outperform” rating in a research note on Wednesday, March 19th. Raymond James raised 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 reissued an “outperform” rating and issued a $63.00 price target on shares of Canadian Natural Resources in a report on Thursday, March 27th. Finally, Evercore ISI raised shares of Canadian Natural Resources from an “in-line” rating to an “outperform” rating in a report on Friday, March 7th. Three investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $63.00.

Canadian Natural Resources Price Performance

Shares of NYSE CNQ opened at $32.19 on Wednesday. Canadian Natural Resources Limited has a twelve month low of $24.65 and a twelve month high of $37.91. The firm has a fifty day simple moving average of $29.51 and a 200 day simple moving average of $30.34. The company has a market capitalization of $67.43 billion, a PE ratio of 12.50 and a beta of 1.03. The company has a quick ratio of 0.53, a current ratio of 0.84 and a debt-to-equity ratio of 0.21.

Canadian Natural Resources (NYSE:CNQ) (TSE:CNQ) last posted 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 analysts’ expectations of $10.14 billion. Canadian Natural Resources had a net margin of 18.45% and a return on equity of 20.07%. During the same period last year, the company posted $1.37 earnings per share. On average, sell-side analysts forecast that Canadian Natural Resources Limited will post 2.45 EPS for the current year.

Canadian Natural Resources Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, July 3rd. Investors of record on Friday, June 13th will be issued a dividend of $0.4227 per share. The ex-dividend date is Friday, June 13th. This is a boost from Canadian Natural Resources’s previous quarterly dividend of $0.41. This represents a $1.69 annualized dividend and a yield of 5.25%. Canadian Natural Resources’s payout ratio is 67.06%.

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).