Federated Hermes Inc. Sells 2,979 Shares of Canadian Natural Resources Limited (NYSE:CNQ)

Federated Hermes Inc. cut its position in Canadian Natural Resources Limited (NYSE:CNQ) (TSE:CNQ) by 41.7% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 4,171 shares of the oil and gas producer’s stock after selling 2,979 shares during the quarter. Federated Hermes Inc.’s holdings in Canadian Natural Resources were worth $128,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the company. Thurston Springer Miller Herd & Titak Inc. raised its holdings in Canadian Natural Resources by 10.2% in the first 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 in the last quarter. AdvisorNet Financial Inc increased its holdings in shares of Canadian Natural Resources by 8.0% during the first quarter. AdvisorNet Financial Inc now owns 7,065 shares of the oil and gas producer’s stock valued at $218,000 after acquiring an additional 525 shares in the last quarter. MML Investors Services LLC increased its holdings in shares of Canadian Natural Resources by 1.0% during the fourth quarter. MML Investors Services LLC now owns 55,045 shares of the oil and gas producer’s stock valued at $1,699,000 after acquiring an additional 528 shares in the last quarter. Peak Financial Advisors LLC increased its holdings in shares of Canadian Natural Resources by 0.7% during the first quarter. Peak Financial Advisors LLC now owns 77,253 shares of the oil and gas producer’s stock valued at $2,379,000 after acquiring an additional 557 shares in the last quarter. Finally, Investment Management Corp VA ADV increased its holdings in shares of Canadian Natural Resources by 158.3% during the first quarter. Investment Management Corp VA ADV now owns 997 shares of the oil and gas producer’s stock valued at $31,000 after acquiring an additional 611 shares in the last quarter. 74.03% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on CNQ shares. Scotiabank restated an “outperform” rating on shares of Canadian Natural Resources in a report on Friday, July 11th. Raymond James Financial restated an “outperform” rating on shares of Canadian Natural Resources in a report on Friday. National Bankshares restated a “sector perform” rating on shares of Canadian Natural Resources in a report on Thursday, July 17th. Finally, Royal Bank Of Canada cut their price objective on shares of Canadian Natural Resources from $64.00 to $62.00 and set an “outperform” rating on the stock in a report on Friday. Three investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $62.00.

Canadian Natural Resources Price Performance

Shares of NYSE CNQ opened at $30.32 on Monday. The business’s 50 day moving average price is $31.80 and its 200 day moving average price is $30.37. The firm has a market cap of $63.39 billion, a P/E ratio of 10.75 and a beta of 1.05. Canadian Natural Resources Limited has a 52 week low of $24.65 and a 52 week high of $37.91. The company has a quick ratio of 0.54, a current ratio of 0.85 and a debt-to-equity ratio of 0.38.

Canadian Natural Resources (NYSE:CNQ) (TSE:CNQ) last issued its earnings results on Thursday, August 7th. The oil and gas producer reported $0.51 EPS for the quarter, beating analysts’ consensus estimates of $0.44 by $0.07. The firm had revenue of $6.39 billion for the quarter, compared to analyst estimates of $8.97 billion. Canadian Natural Resources had a return on equity of 19.67% and a net margin of 19.00%. During the same quarter in the prior year, the firm earned $0.88 earnings per share. On average, sell-side analysts expect that Canadian Natural Resources Limited will post 2.45 earnings per share for the current year.

Canadian Natural Resources Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, October 3rd. Investors of record on Friday, September 19th will be given a $0.4269 dividend. This is an increase from Canadian Natural Resources’s previous quarterly dividend of $0.42. This represents a $1.71 dividend on an annualized basis and a yield of 5.6%. The ex-dividend date is Friday, September 19th. Canadian Natural Resources’s payout ratio is currently 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).