Fiduciary Trust Co Sells 13,070 Shares of Canadian Natural Resources Limited (NYSE:CNQ)

Fiduciary Trust Co reduced its position in shares of Canadian Natural Resources Limited (NYSE:CNQ) (TSE:CNQ) by 7.1% in the fourth quarter, Holdings Channel reports. The fund owned 171,302 shares of the oil and gas producer’s stock after selling 13,070 shares during the quarter. Fiduciary Trust Co’s holdings in Canadian Natural Resources were worth $5,288,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of CNQ. FMR LLC boosted its holdings in shares of Canadian Natural Resources by 8.7% in the 4th quarter. FMR LLC now owns 92,550,104 shares of the oil and gas producer’s stock worth $2,857,337,000 after purchasing an additional 7,372,718 shares during the period. Vanguard Group Inc. increased its position in Canadian Natural Resources by 0.5% during the fourth quarter. Vanguard Group Inc. now owns 90,002,235 shares of the oil and gas producer’s stock valued at $2,778,729,000 after acquiring an additional 456,814 shares during the last quarter. Fisher Asset Management LLC raised its stake in shares of Canadian Natural Resources by 1.3% in the fourth quarter. Fisher Asset Management LLC now owns 44,131,266 shares of the oil and gas producer’s stock valued at $1,362,332,000 after acquiring an additional 550,242 shares during the period. Canada Pension Plan Investment Board lifted its holdings in shares of Canadian Natural Resources by 5.3% in the 4th quarter. Canada Pension Plan Investment Board now owns 36,963,702 shares of the oil and gas producer’s stock worth $1,139,753,000 after acquiring an additional 1,844,700 shares during the last quarter. Finally, T. Rowe Price Investment Management Inc. boosted its stake in shares of Canadian Natural Resources by 7.3% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 34,052,775 shares of the oil and gas producer’s stock worth $1,051,210,000 after purchasing an additional 2,312,437 shares during the period. 74.03% of the stock is owned by hedge funds and other institutional investors.

Canadian Natural Resources Price Performance

CNQ opened at $30.53 on Friday. The company has a market capitalization of $64.04 billion, a price-to-earnings ratio of 11.86 and a beta of 1.04. The company has a current ratio of 0.84, a quick ratio of 0.53 and a debt-to-equity ratio of 0.21. Canadian Natural Resources Limited has a 12-month low of $24.65 and a 12-month high of $39.20. The business’s fifty day simple moving average is $28.98 and its 200-day simple moving average is $30.84.

Canadian Natural Resources (NYSE:CNQ) (TSE:CNQ) last issued its earnings results on Thursday, May 8th. The oil and gas producer reported $0.81 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.73 by $0.08. Canadian Natural Resources had a net margin of 18.45% and a return on equity of 20.07%. The company had revenue of $6.96 billion for the quarter, compared to analysts’ expectations of $10.14 billion. During the same period in the prior year, the business earned $1.37 EPS. On average, equities research analysts anticipate that Canadian Natural Resources Limited will post 2.45 earnings per share for the current fiscal 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 paid a $0.4227 dividend. This is an increase from Canadian Natural Resources’s previous quarterly dividend of $0.41. The ex-dividend date of this dividend is Friday, June 13th. This represents a $1.69 dividend on an annualized basis and a yield of 5.54%. Canadian Natural Resources’s payout ratio is 77.88%.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on CNQ. Tudor Pickering lowered shares of Canadian Natural Resources from a “strong-buy” rating to a “hold” rating in a research report on Monday, February 10th. Raymond James upgraded Canadian Natural Resources from a “market perform” rating to an “outperform” rating in a report on Wednesday, April 9th. Royal Bank of Canada reiterated an “outperform” rating and issued a $63.00 target price on shares of Canadian Natural Resources in a research note on Thursday, March 27th. Scotiabank raised shares of Canadian Natural Resources from a “sector perform” rating to a “sector outperform” rating in a research note on Wednesday, March 19th. Finally, Evercore ISI raised shares of Canadian Natural Resources from an “in-line” rating to an “outperform” rating in a research note on Friday, March 7th. Three investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat, Canadian Natural Resources presently has a consensus rating of “Moderate Buy” and a consensus target price of $63.00.

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).