Pictet Asset Management Holding SA Sells 18,083 Shares of Canadian Natural Resources Limited $CNQ

Pictet Asset Management Holding SA reduced its holdings in Canadian Natural Resources Limited (NYSE:CNQ) (TSE:CNQ) by 2.6% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 688,249 shares of the oil and gas producer’s stock after selling 18,083 shares during the quarter. Pictet Asset Management Holding SA’s holdings in Canadian Natural Resources were worth $33,467,000 as of its most recent filing with the SEC.

Other institutional investors have also made changes to their positions in the company. AQR Capital Management LLC lifted its holdings in shares of Canadian Natural Resources by 85.5% during the first quarter. AQR Capital Management LLC now owns 18,090 shares of the oil and gas producer’s stock worth $557,000 after buying an additional 8,336 shares during the last quarter. Jones Financial Companies Lllp raised its holdings in Canadian Natural Resources by 92.7% in the 1st quarter. Jones Financial Companies Lllp now owns 29,096 shares of the oil and gas producer’s stock valued at $896,000 after acquiring an additional 13,996 shares in the last quarter. Empowered Funds LLC lifted its position in shares of Canadian Natural Resources by 4.3% in the 1st quarter. Empowered Funds LLC now owns 79,374 shares of the oil and gas producer’s stock worth $2,445,000 after acquiring an additional 3,266 shares during the period. Geneos Wealth Management Inc. lifted its holdings in shares of Canadian Natural Resources by 47.3% during the 1st quarter. Geneos Wealth Management Inc. now owns 1,644 shares of the oil and gas producer’s stock worth $51,000 after acquiring an additional 528 shares during the period. Finally, EverSource Wealth Advisors LLC boosted its stake in shares of Canadian Natural Resources by 65.5% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 4,513 shares of the oil and gas producer’s stock valued at $142,000 after purchasing an additional 1,786 shares in the last quarter. 74.03% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms have recently commented on CNQ. The Goldman Sachs Group increased their price target on shares of Canadian Natural Resources from $37.00 to $49.00 and gave the company a “buy” rating in a research note on Thursday, March 12th. ATB Cormark Capital Markets cut Canadian Natural Resources from a “strong-buy” rating to a “moderate buy” rating in a research note on Thursday, March 5th. Raymond James Financial raised Canadian Natural Resources from a “market perform” rating to an “outperform” rating in a research note on Thursday, May 7th. Weiss Ratings cut Canadian Natural Resources from a “buy (b)” rating to a “buy (b-)” rating in a report on Monday, May 11th. Finally, Scotiabank upgraded Canadian Natural Resources to a “hold” rating in a research report on Friday, June 26th. Six equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $57.00.

Canadian Natural Resources Stock Up 0.5%

NYSE:CNQ opened at $39.52 on Wednesday. Canadian Natural Resources Limited has a 1 year low of $29.30 and a 1 year high of $51.34. The company has a current ratio of 0.98, a quick ratio of 0.68 and a debt-to-equity ratio of 0.37. The stock has a market cap of $82.02 billion, a price-to-earnings ratio of 11.80 and a beta of 0.45. The stock has a 50-day moving average price of $45.13 and a two-hundred day moving average price of $42.03.

Canadian Natural Resources (NYSE:CNQ) (TSE:CNQ) last posted its earnings results on Thursday, May 7th. The oil and gas producer reported $0.85 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.74 by $0.11. The business had revenue of $7.72 billion during the quarter, compared to analysts’ expectations 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 period in the prior year, the business earned $1.16 EPS. As a group, equities analysts expect that Canadian Natural Resources Limited will post 4.2 earnings per share for the current year.

Canadian Natural Resources Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 7th. Shareholders of record on Tuesday, June 23rd will be paid a $0.625 dividend. The ex-dividend date is Tuesday, June 23rd. This represents a $2.50 annualized dividend and a yield of 6.3%. Canadian Natural Resources’s payout ratio is presently 54.03%.

Canadian Natural Resources 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.