Cibc World Markets Corp Sells 423,310 Shares of Canadian Natural Resources Limited (NYSE:CNQ)

Cibc World Markets Corp lessened its position in Canadian Natural Resources Limited (NYSE:CNQGet Rating) (TSE:CNQ) by 28.4% during the fourth quarter, Holdings Channel.com reports. The fund owned 1,065,271 shares of the oil and gas producer’s stock after selling 423,310 shares during the period. Cibc World Markets Corp’s holdings in Canadian Natural Resources were worth $45,008,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Integrated Investment Consultants LLC purchased a new stake in shares of Canadian Natural Resources in the 4th quarter worth about $357,000. NewEdge Wealth LLC purchased a new position in Canadian Natural Resources in the third quarter worth about $2,830,000. Raymond James Trust N.A. raised its holdings in Canadian Natural Resources by 6.8% in the fourth quarter. Raymond James Trust N.A. now owns 8,241 shares of the oil and gas producer’s stock worth $348,000 after buying an additional 525 shares during the last quarter. Brinker Capital Investments LLC raised its holdings in Canadian Natural Resources by 7.9% in the fourth quarter. Brinker Capital Investments LLC now owns 7,549 shares of the oil and gas producer’s stock worth $319,000 after buying an additional 550 shares during the last quarter. Finally, Paradigm Financial Partners LLC bought a new stake in Canadian Natural Resources during the fourth quarter valued at approximately $216,000. 68.45% of the stock is owned by hedge funds and other institutional investors.

CNQ has been the topic of several analyst reports. The Goldman Sachs Group downgraded shares of Canadian Natural Resources from a “buy” rating to a “neutral” rating and lowered their price target for the company from $58.00 to $54.00 in a report on Monday, January 24th. TD Securities lifted their price target on shares of Canadian Natural Resources from C$90.00 to C$94.00 in a report on Friday, May 6th. Stifel Nicolaus lifted their price target on shares of Canadian Natural Resources from C$80.00 to C$100.00 in a report on Monday, March 7th. BMO Capital Markets lifted their price target on shares of Canadian Natural Resources from C$92.00 to C$95.00 in a report on Friday, May 6th. Finally, Wells Fargo & Company lifted their price target on shares of Canadian Natural Resources from $61.00 to $79.00 and gave the company an “equal weight” rating in a report on Friday, March 11th. Five research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus price target of $77.29.

Canadian Natural Resources stock traded up $0.65 during mid-day trading on Thursday, reaching $61.80. 1,933,900 shares of the company’s stock traded hands, compared to its average volume of 3,513,362. The company has a market cap of $71.73 billion, a price-to-earnings ratio of 9.87, a PEG ratio of 0.41 and a beta of 1.53. The stock has a 50 day moving average of $62.50 and a two-hundred day moving average of $52.44. The company has a quick ratio of 0.57, a current ratio of 0.75 and a debt-to-equity ratio of 0.29. Canadian Natural Resources Limited has a 12-month low of $29.53 and a 12-month high of $70.60.

Canadian Natural Resources (NYSE:CNQGet Rating) (TSE:CNQ) last released its quarterly earnings results on Thursday, May 5th. The oil and gas producer reported $2.26 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.94 by $0.32. The company had revenue of $8.43 billion for the quarter, compared to the consensus estimate of $7.12 billion. Canadian Natural Resources had a net margin of 24.71% and a return on equity of 26.32%. As a group, sell-side analysts forecast that Canadian Natural Resources Limited will post 8.23 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 5th. Investors of record on Friday, June 17th will be paid a dividend of $0.583 per share. This represents a $2.33 dividend on an annualized basis and a yield of 3.77%. The ex-dividend date is Thursday, June 16th. Canadian Natural Resources’s payout ratio is 37.44%.

About Canadian Natural Resources (Get Rating)

Canadian Natural Resources Limited acquires, explores for, develops, produces, markets, and sells 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.

Further Reading

Want to see what other hedge funds are holding CNQ? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Canadian Natural Resources Limited (NYSE:CNQGet Rating) (TSE:CNQ).

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

Receive News & Ratings for Canadian Natural Resources Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Canadian Natural Resources and related companies with MarketBeat.com's FREE daily email newsletter.