Canadian Natural Resources Limited (CNQ) Stake Reduced by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. lowered its stake in Canadian Natural Resources Limited (NYSE:CNQ) (TSE:CNQ) by 65.1% during the first quarter, according to its most recent filing with the SEC. The firm owned 26,214 shares of the oil and gas producer’s stock after selling 48,808 shares during the period. Envestnet Asset Management Inc.’s holdings in Canadian Natural Resources Limited were worth $858,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also modified their holdings of the company. Jarislowsky Fraser Ltd raised its stake in Canadian Natural Resources Limited by 15.9% in the fourth quarter. Jarislowsky Fraser Ltd now owns 21,595,007 shares of the oil and gas producer’s stock valued at $689,049,000 after buying an additional 2,970,154 shares during the last quarter. Guardian Capital Advisors LP raised its stake in Canadian Natural Resources Limited by 1.0% in the fourth quarter. Guardian Capital Advisors LP now owns 301,515 shares of the oil and gas producer’s stock valued at $13,089,000 after buying an additional 3,001 shares during the last quarter. Lincluden Management Ltd. raised its stake in Canadian Natural Resources Limited by 8.7% in the fourth quarter. Lincluden Management Ltd. now owns 379,290 shares of the oil and gas producer’s stock valued at $12,075,000 after buying an additional 30,272 shares during the last quarter. Cidel Asset Management Inc. raised its stake in Canadian Natural Resources Limited by 12.0% in the first quarter. Cidel Asset Management Inc. now owns 2,861,951 shares of the oil and gas producer’s stock valued at $91,032,000 after buying an additional 305,980 shares during the last quarter. Finally, Franklin Resources Inc. raised its stake in Canadian Natural Resources Limited by 2.6% in the fourth quarter. Franklin Resources Inc. now owns 3,669,944 shares of the oil and gas producer’s stock valued at $116,958,000 after buying an additional 92,268 shares during the last quarter. Institutional investors own 65.69% of the company’s stock.

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

Canadian Natural Resources Limited (NYSE:CNQ) opened at 29.39 on Tuesday. The company has a 50 day moving average of $30.61 and a 200 day moving average of $31.45. The stock has a market capitalization of $32.83 billion, a price-to-earnings ratio of 299.90 and a beta of 1.41. Canadian Natural Resources Limited has a 12 month low of $27.80 and a 12 month high of $35.28.

The firm also recently declared a quarterly dividend, which will be paid on Saturday, July 1st. Investors of record on Friday, June 16th will be issued a $0.2014 dividend. This represents a $0.81 dividend on an annualized basis and a yield of 2.74%. The ex-dividend date of this dividend is Wednesday, June 14th. Canadian Natural Resources Limited’s dividend payout ratio (DPR) is 922.22%.

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Several analysts have commented on the stock. TheStreet raised shares of Canadian Natural Resources Limited from a “d+” rating to a “c-” rating in a research report on Wednesday, April 12th. Royal Bank Of Canada increased their price target on shares of Canadian Natural Resources Limited from $55.00 to $60.00 and gave the company a “top pick” rating in a research report on Friday, March 10th. Zacks Investment Research raised shares of Canadian Natural Resources Limited from a “hold” rating to a “strong-buy” rating and set a $35.00 price target for the company in a research report on Friday, May 5th. Finally, Canaccord Genuity reissued a “buy” rating and set a $47.00 price target on shares of Canadian Natural Resources Limited in a research report on Saturday, March 11th. One equities research analyst has rated the stock with a hold rating, twelve have given a buy rating and two have issued a strong buy rating to the company. Canadian Natural Resources Limited currently has an average rating of “Buy” and a consensus price target of $46.55.

Canadian Natural Resources Limited Company Profile

Canadian Natural Resources Limited is an independent crude oil and natural gas exploration, development and production company. The Company’s segments include Exploration and Production, Oil Sands Mining and Upgrading, and Midstream. The Exploration and Production segment includes exploration, development, production and marketing of crude oil, natural gas liquids (NGLs) and natural gas.new TradingView.widget({ “height”: 400, “width”: 625, “symbol”: “CNQ”, “interval”: “D”, “timezone”: “Etc/UTC”, “theme”: “White”, “style”: “1”, “locale”: “en”, “toolbar_bg”: “#f1f3f6”, “enable_publishing”: false, “hideideas”: true, “referral_id”: “2588”});

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