Bowen Hanes & Co. Inc. Sells 54,750 Shares of Canadian Natural Resources Limited $CNQ

Bowen Hanes & Co. Inc. decreased its holdings in shares of Canadian Natural Resources Limited (NYSE:CNQ) (TSE:CNQ) by 47.4% in the 4th quarter, Holdings Channel reports. The firm owned 60,800 shares of the oil and gas producer’s stock after selling 54,750 shares during the period. Bowen Hanes & Co. Inc.’s holdings in Canadian Natural Resources were worth $2,058,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Leonteq Securities AG purchased a new position in shares of Canadian Natural Resources during the fourth quarter worth about $31,000. GoalVest Advisory LLC purchased a new position in shares of Canadian Natural Resources during the fourth quarter worth about $32,000. Quarry LP purchased a new position in shares of Canadian Natural Resources during the third quarter worth about $32,000. LOM Asset Management Ltd purchased a new position in shares of Canadian Natural Resources during the fourth quarter worth about $34,000. Finally, Boyd Watterson Asset Management LLC OH purchased a new position in shares of Canadian Natural Resources during the fourth quarter worth about $51,000. Hedge funds and other institutional investors own 74.03% of the company’s stock.

Canadian Natural Resources Stock Performance

NYSE:CNQ opened at $47.75 on Thursday. The firm has a market cap of $99.37 billion, a PE ratio of 14.25 and a beta of 0.45. Canadian Natural Resources Limited has a fifty-two week low of $29.30 and a fifty-two week high of $51.34. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.68 and a current ratio of 0.98. The business has a 50 day moving average price of $46.87 and a 200-day moving average price of $40.83.

Canadian Natural Resources (NYSE:CNQ) (TSE:CNQ) last released its quarterly earnings data on Thursday, May 7th. The oil and gas producer reported $0.85 earnings per share for the quarter, beating analysts’ consensus estimates of $0.74 by $0.11. The firm had revenue of $7.72 billion during the quarter, compared to analyst estimates of $7.57 billion. Canadian Natural Resources had a return on equity of 17.49% and a net margin of 22.04%.During the same quarter in the prior year, the firm posted $1.16 earnings per share. Equities research analysts predict that Canadian Natural Resources Limited will post 4.2 earnings per share for the current year.

Canadian Natural Resources Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 7th. Stockholders of record on Tuesday, June 23rd will be paid a dividend of $0.625 per share. This represents a $2.50 dividend on an annualized basis and a dividend yield of 5.2%. The ex-dividend date of this dividend is Tuesday, June 23rd. Canadian Natural Resources’s dividend payout ratio is 54.63%.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the company. Raymond James Financial raised Canadian Natural Resources from a “market perform” rating to an “outperform” rating in a report on Thursday, May 7th. ATB Cormark Capital Markets lowered Canadian Natural Resources from a “strong-buy” rating to a “moderate buy” rating in a report on Thursday, March 5th. The Goldman Sachs Group boosted their price objective on Canadian Natural Resources from $37.00 to $49.00 and gave the stock a “buy” rating in a report on Thursday, March 12th. Royal Bank Of Canada boosted their price objective on Canadian Natural Resources from $61.00 to $65.00 and gave the stock an “outperform” rating in a report on Friday, March 6th. Finally, Zacks Research raised Canadian Natural Resources from a “hold” rating to a “strong-buy” rating in a report on Tuesday, May 5th. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target 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.