Natixis Advisors LLC Trims Holdings in Canadian Natural Resources Limited $CNQ

Natixis Advisors LLC cut its stake in Canadian Natural Resources Limited (NYSE:CNQ) (TSE:CNQ) by 25.9% in the 4th quarter, Holdings Channel.com reports. The firm owned 360,931 shares of the oil and gas producer’s stock after selling 125,890 shares during the quarter. Natixis Advisors LLC’s holdings in Canadian Natural Resources were worth $12,218,000 as of its most recent filing with the SEC.

Other hedge funds also recently made changes to their positions in the company. Leonteq Securities AG purchased a new position in shares of Canadian Natural Resources in the fourth quarter valued at $31,000. GoalVest Advisory LLC purchased a new position in shares of Canadian Natural Resources in the fourth quarter valued at $32,000. LOM Asset Management Ltd purchased a new position in shares of Canadian Natural Resources in the fourth quarter valued at $34,000. Quarry LP purchased a new position in shares of Canadian Natural Resources in the third quarter valued at $32,000. Finally, Boyd Watterson Asset Management LLC OH purchased a new position in shares of Canadian Natural Resources in the fourth quarter valued at $51,000. 74.03% of the stock is currently owned by hedge funds and other institutional investors.

Canadian Natural Resources Price Performance

Canadian Natural Resources stock opened at $45.74 on Friday. Canadian Natural Resources Limited has a 52 week low of $29.30 and a 52 week high of $51.34. The business has a 50-day simple moving average of $46.78 and a 200 day simple moving average of $40.96. The company has a quick ratio of 0.68, a current ratio of 0.98 and a debt-to-equity ratio of 0.37. The stock has a market cap of $95.20 billion, a price-to-earnings ratio of 13.65 and a beta of 0.45.

Canadian Natural Resources (NYSE:CNQ) (TSE:CNQ) last posted its earnings results on Thursday, May 7th. The oil and gas producer reported $0.85 EPS for the quarter, topping the consensus estimate of $0.74 by $0.11. Canadian Natural Resources had a return on equity of 17.49% and a net margin of 22.04%.The business had revenue of $7.72 billion during the quarter, compared to analysts’ expectations of $7.57 billion. During the same period in the previous year, the business earned $1.16 earnings per share. On average, research analysts forecast that Canadian Natural Resources Limited will post 4.2 earnings per share for the current fiscal year.

Canadian Natural Resources Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 7th. Investors of record on Tuesday, June 23rd will be given a dividend of $0.625 per share. This represents a $2.50 annualized dividend and a yield of 5.5%. The ex-dividend date is Tuesday, June 23rd. Canadian Natural Resources’s payout ratio is presently 54.63%.

Wall Street Analysts Forecast Growth

CNQ has been the subject of several recent research reports. Raymond James Financial upgraded Canadian Natural Resources from a “market perform” rating to an “outperform” rating in a research report on Thursday, May 7th. Royal Bank Of Canada lifted their price target on Canadian Natural Resources from $61.00 to $65.00 and gave the company an “outperform” rating in a research report on Friday, March 6th. The Goldman Sachs Group lifted their price target on Canadian Natural Resources from $37.00 to $49.00 and gave the company a “buy” rating in a research report on Thursday, March 12th. Zacks Research upgraded Canadian Natural Resources from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, May 5th. Finally, Scotiabank reiterated an “outperform” rating on shares of Canadian Natural Resources in a research report on Wednesday, May 20th. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Canadian Natural Resources currently has a consensus rating of “Moderate Buy” and an average target price of $57.00.

Canadian Natural Resources Company Profile

Canadian Natural Resources Limited (NYSE: CNQ) is a Calgary-based independent oil and natural gas exploration and production company. Established in the early 1970s and publicly listed in Canada and the United States, the company is principally engaged in the exploration, development, production, and marketing of crude oil, natural gas and natural gas liquids. Its asset base spans conventional and unconventional reservoirs and includes oil sands mining and in-situ thermal projects, midstream processing and upgrading capacity, and related field operations.

The company’s operations are concentrated in Western Canada, where it develops heavy crude, bitumen from oil sands and conventional light crude and natural gas resources.