Comerica Bank Has $2.11 Million Position in Canadian Natural Resources Ltd (CNQ)

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Comerica Bank cut its holdings in Canadian Natural Resources Ltd (NYSE:CNQ) (TSE:CNQ) by 5.8% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 71,047 shares of the oil and gas producer’s stock after selling 4,381 shares during the period. Comerica Bank’s holdings in Canadian Natural Resources were worth $2,105,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in CNQ. IFP Advisors Inc boosted its holdings in Canadian Natural Resources by 71.7% in the 4th quarter. IFP Advisors Inc now owns 1,042 shares of the oil and gas producer’s stock valued at $25,000 after purchasing an additional 435 shares during the period. Bremer Trust National Association bought a new position in Canadian Natural Resources in the 4th quarter valued at $28,000. Buffington Mohr McNeal bought a new position in Canadian Natural Resources in the 1st quarter valued at $55,000. Assenagon Asset Management S.A. bought a new position in Canadian Natural Resources in the 1st quarter valued at $203,000. Finally, Fulton Bank N.A. bought a new position in Canadian Natural Resources in the 1st quarter valued at $204,000. 67.29% of the stock is owned by institutional investors.

Canadian Natural Resources stock opened at $26.00 on Friday. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.57 and a current ratio of 0.76. The firm has a market cap of $31.15 billion, a PE ratio of 12.09, a P/E/G ratio of 2.07 and a beta of 1.20. Canadian Natural Resources Ltd has a fifty-two week low of $21.85 and a fifty-two week high of $37.41.

Canadian Natural Resources (NYSE:CNQ) (TSE:CNQ) last posted its quarterly earnings data on Thursday, May 9th. The oil and gas producer reported $0.70 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.39 by $0.31. The firm had revenue of $3.95 billion for the quarter, compared to analysts’ expectations of $3.73 billion. Canadian Natural Resources had a net margin of 13.50% and a return on equity of 8.98%. During the same quarter last year, the company posted $0.71 EPS. As a group, equities analysts forecast that Canadian Natural Resources Ltd will post 2.21 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Friday, June 14th will be given a dividend of $0.2794 per share. This represents a $1.12 annualized dividend and a dividend yield of 4.30%. The ex-dividend date is Thursday, June 13th. Canadian Natural Resources’s dividend payout ratio (DPR) is currently 53.02%.

Several brokerages have commented on CNQ. ValuEngine raised shares of Canadian Natural Resources from a “sell” rating to a “hold” rating in a report on Thursday, March 14th. Evercore ISI began coverage on shares of Canadian Natural Resources in a report on Wednesday, March 13th. They issued an “in-line” rating for the company. Zacks Investment Research raised shares of Canadian Natural Resources from a “strong sell” rating to a “hold” rating in a report on Monday, February 11th. Royal Bank of Canada reissued an “average” rating and issued a $45.00 price target on shares of Canadian Natural Resources in a report on Friday, May 10th. Finally, CIBC reissued a “buy” rating on shares of Canadian Natural Resources in a report on Saturday, February 2nd. Four research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus price target of $41.31.

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Canadian Natural Resources Company Profile

Canadian Natural Resources Limited explores for, develops, produces, and markets crude oil, natural gas, and natural gas liquids (NGLs). The company offers synthetic crude oil (SCO), light and medium crude oil, bitumen (thermal oil), primary heavy crude oil, and Pelican Lake heavy crude oil. Its midstream assets include two crude oil pipeline systems; and a 50% working interest in an 84-megawatt cogeneration plant at Primrose.

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Institutional Ownership by Quarter for Canadian Natural Resources (NYSE:CNQ)

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