Bartlett & Co. LLC cut its stake in shares of Canadian Natural Resources Ltd. (NYSE:CNQ) by 4.0% during the second quarter, Holdings Channel reports. The fund owned 12,578 shares of the company’s stock after selling 525 shares during the period. Bartlett & Co. LLC’s holdings in Canadian Natural Resources were worth $388,000 as of its most recent filing with the SEC.
Other institutional investors have also modified their holdings of the company. Financial Architects Inc acquired a new position in shares of Canadian Natural Resources during the second quarter valued at about $155,000. Raymond James Trust N.A. acquired a new position in shares of Canadian Natural Resources during the second quarter valued at about $208,000. Seven Eight Capital LLC acquired a new position in shares of Canadian Natural Resources during the first quarter valued at about $222,000. Fulton Bank N.A. acquired a new position in shares of Canadian Natural Resources during the second quarter valued at about $223,000. Finally, Huntington Asset Advisors Inc. acquired a new position in shares of Canadian Natural Resources during the first quarter valued at about $273,000. Institutional investors own 69.22% of the company’s stock.
Shares of Canadian Natural Resources Ltd. (NYSE:CNQ) traded up 1.94% during mid-day trading on Thursday, reaching $32.04. The company had a trading volume of 3,673,357 shares. The firm has a 50-day moving average of $31.15 and a 200-day moving average of $29.79. The company’s market capitalization is $35.29 billion. Canadian Natural Resources Ltd. has a 12-month low of $14.60 and a 12-month high of $32.94.
Canadian Natural Resources (NYSE:CNQ) last announced its quarterly earnings data on Thursday, August 4th. The company reported ($0.19) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.20) by $0.01. Canadian Natural Resources had a negative return on equity of 2.36% and a negative net margin of 3.88%. The firm had revenue of $2.55 billion for the quarter, compared to analysts’ expectations of $1.80 billion. On average, equities analysts anticipate that Canadian Natural Resources Ltd. will post ($0.61) earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Saturday, October 1st. Stockholders of record on Friday, September 16th will be paid a dividend of $0.1764 per share. The ex-dividend date of this dividend is Wednesday, September 14th. This represents a $0.71 dividend on an annualized basis and a dividend yield of 2.20%. Canadian Natural Resources’s dividend payout ratio (DPR) is currently -236.66%.
CNQ has been the topic of several recent analyst reports. Citigroup Inc. reiterated a “buy” rating and issued a $34.00 price target (up previously from $28.63) on shares of Canadian Natural Resources in a research note on Friday, June 17th. Credit Suisse Group AG restated a “buy” rating on shares of Canadian Natural Resources in a research report on Thursday, June 16th. Nomura restated a “buy” rating on shares of Canadian Natural Resources in a research report on Monday, June 20th. Bank of America Corp. assumed coverage on Canadian Natural Resources in a research report on Friday, August 19th. They set a “buy” rating and a $38.00 price objective on the stock. Finally, TD Securities restated a “hold” rating and set a $40.00 price objective on shares of Canadian Natural Resources in a research report on Wednesday, August 10th. One analyst has rated the stock with a sell rating, five have given a hold rating, thirteen have given a buy rating and two have assigned a strong buy rating to the stock. Canadian Natural Resources currently has an average rating of “Buy” and an average target price of $39.07.
Canadian Natural Resources Company Profile
Canadian Natural Resources Limited is an independent crude oil and natural gas exploration, development and production company. The Company is engaged in the acquisition, exploration, development, production, marketing and sale of crude oil, natural gas and natural gas liquids (NGLs). Its exploration and production operations are focused in North America, largely in Western Canada; the United Kingdom (UK) portion of the North Sea and Cote d’Ivoire, Gabon, and South Africa in Offshore Africa.
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