Envestnet Asset Management Inc. lessened its stake in Canadian Natural Resources Limited (NYSE:CNQ – Free Report) (TSE:CNQ) by 7.1% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 164,032 shares of the oil and gas producer’s stock after selling 12,522 shares during the quarter. Envestnet Asset Management Inc.’s holdings in Canadian Natural Resources were worth $9,228,000 at the end of the most recent quarter.
Other institutional investors have also bought and sold shares of the company. Raymond James Trust N.A. lifted its position in shares of Canadian Natural Resources by 2.3% during the 1st quarter. Raymond James Trust N.A. now owns 8,432 shares of the oil and gas producer’s stock valued at $523,000 after buying an additional 191 shares during the last quarter. Tocqueville Asset Management L.P. increased its stake in shares of Canadian Natural Resources by 0.7% in the first quarter. Tocqueville Asset Management L.P. now owns 26,954 shares of the oil and gas producer’s stock worth $1,492,000 after purchasing an additional 197 shares in the last quarter. US Bancorp DE raised its position in shares of Canadian Natural Resources by 0.4% in the first quarter. US Bancorp DE now owns 48,222 shares of the oil and gas producer’s stock valued at $2,669,000 after purchasing an additional 199 shares during the period. Drive Wealth Management LLC lifted its stake in shares of Canadian Natural Resources by 3.7% during the 2nd quarter. Drive Wealth Management LLC now owns 5,686 shares of the oil and gas producer’s stock valued at $324,000 after buying an additional 202 shares in the last quarter. Finally, Aspire Private Capital LLC bought a new position in Canadian Natural Resources in the 1st quarter worth approximately $11,623,500,000. Hedge funds and other institutional investors own 73.88% of the company’s stock.
Analyst Upgrades and Downgrades
A number of brokerages have issued reports on CNQ. Royal Bank of Canada boosted their target price on shares of Canadian Natural Resources from $95.00 to $96.00 and gave the company an “outperform” rating in a report on Friday, November 3rd. Jefferies Financial Group raised their price objective on shares of Canadian Natural Resources from $84.00 to $94.00 and gave the company a “hold” rating in a research report on Monday, August 28th. CIBC upped their target price on shares of Canadian Natural Resources from $90.00 to $93.00 and gave the stock an “outperformer” rating in a report on Tuesday, August 29th. National Bank Financial downgraded shares of Canadian Natural Resources from an “outperform” rating to a “sector perform” rating in a report on Friday, August 4th. Finally, Wells Fargo & Company upped their price target on shares of Canadian Natural Resources from $80.00 to $85.00 and gave the stock an “equal weight” rating in a report on Friday, August 4th. Four analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $90.63.
Canadian Natural Resources Trading Down 1.4 %
Shares of CNQ stock opened at $65.36 on Thursday. The business has a 50-day moving average price of $64.50 and a two-hundred day moving average price of $60.28. Canadian Natural Resources Limited has a 12-month low of $48.81 and a 12-month high of $68.30. The company has a quick ratio of 0.65, a current ratio of 0.91 and a debt-to-equity ratio of 0.25. The firm has a market cap of $70.81 billion, a P/E ratio of 13.70 and a beta of 1.52.
Canadian Natural Resources Increases Dividend
The company also recently announced a quarterly dividend, which will be paid on Friday, January 5th. Shareholders of record on Friday, December 8th will be paid a $0.7203 dividend. The ex-dividend date of this dividend is Thursday, December 7th. This represents a $2.88 annualized dividend and a yield of 4.41%. This is a positive change from Canadian Natural Resources’s previous quarterly dividend of $0.67. Canadian Natural Resources’s dividend payout ratio is currently 55.97%.
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).
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