Canadian Natural Resources Limited (NYSE:CNQ) Shares Sold by Park Avenue Securities LLC

Park Avenue Securities LLC reduced its stake in shares of Canadian Natural Resources Limited (NYSE:CNQ) (TSE:CNQ) by 1.8% during the 1st quarter, according to its most recent filing with the SEC. The firm owned 43,295 shares of the oil and gas producer’s stock after selling 782 shares during the period. Park Avenue Securities LLC’s holdings in Canadian Natural Resources were worth $1,333,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the stock. Duncker Streett & Co. Inc. purchased a new position in Canadian Natural Resources during the fourth quarter valued at approximately $25,000. Lee Danner & Bass Inc. purchased a new position in shares of Canadian Natural Resources during the 4th quarter valued at approximately $25,000. Hurley Capital LLC acquired a new position in shares of Canadian Natural Resources in the 4th quarter valued at $31,000. Sandy Spring Bank purchased a new stake in Canadian Natural Resources during the fourth quarter worth $31,000. Finally, CoreFirst Bank & Trust purchased a new stake in Canadian Natural Resources during the fourth quarter worth $31,000. Hedge funds and other institutional investors own 74.03% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the stock. Scotiabank upgraded shares of Canadian Natural Resources from a “sector perform” rating to a “sector outperform” rating in a research report on Wednesday, March 19th. Evercore ISI upgraded Canadian Natural Resources from an “in-line” rating to an “outperform” rating in a research report on Friday, March 7th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $63.00 target price on shares of Canadian Natural Resources in a research note on Thursday, March 27th. Finally, Raymond James raised shares of Canadian Natural Resources from a “market perform” rating to an “outperform” rating in a report on Wednesday, April 9th. Three equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $63.00.

Canadian Natural Resources Stock Up 1.7%

NYSE CNQ opened at $32.71 on Thursday. The business’s fifty day simple moving average is $29.61 and its 200-day simple moving average is $30.35. 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 firm has a market cap of $68.53 billion, a PE ratio of 12.70 and a beta of 1.03. Canadian Natural Resources Limited has a 52 week low of $24.65 and a 52 week high of $37.91.

Canadian Natural Resources (NYSE:CNQ) (TSE:CNQ) last issued its 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 company had revenue of $6.96 billion for the quarter, compared to the consensus estimate 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 in the previous year, the firm earned $1.37 earnings per share. As a group, equities analysts anticipate that Canadian Natural Resources Limited will post 2.45 earnings per share for the current year.

Canadian Natural Resources Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, July 3rd. Investors of record on Friday, June 13th will be issued a $0.4227 dividend. 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 dividend on an annualized basis and a yield of 5.17%. Canadian Natural Resources’s dividend payout ratio is currently 67.06%.

About Canadian Natural Resources

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).