Investors Sell Shares of Canadian Natural Resources (CNQ) on Strength (CNQ)

Investors sold shares of Canadian Natural Resources Ltd (NYSE:CNQ) (TSE:CNQ) on strength during trading on Tuesday. $7.49 million flowed into the stock on the tick-up and $58.69 million flowed out of the stock on the tick-down, for a money net flow of $51.20 million out of the stock. Of all stocks tracked, Canadian Natural Resources had the 33rd highest net out-flow for the day. Canadian Natural Resources traded up $0.33 for the day and closed at $31.41

A number of equities analysts have weighed in on the stock. Edward Jones lowered shares of Canadian Natural Resources from a “buy” rating to a “hold” rating in a report on Thursday. Zacks Investment Research upgraded shares of Canadian Natural Resources from a “strong sell” rating to a “hold” rating in a report on Wednesday, April 10th. ValuEngine upgraded shares of Canadian Natural Resources from a “sell” rating to a “hold” rating in a report on Thursday, March 14th. Scotiabank reiterated a “buy” rating on shares of Canadian Natural Resources in a report on Tuesday, April 2nd. Finally, Evercore ISI upgraded shares of Canadian Natural Resources from an “in-line” rating to an “outperform” rating and set a $27.83 price target on the stock in a report on Wednesday, April 3rd. Four research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. The stock has an average rating of “Buy” and a consensus target price of $42.20.

The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.43 and a current ratio of 0.63. The firm has a market cap of $36.30 billion, a price-to-earnings ratio of 14.03, a price-to-earnings-growth ratio of 3.72 and a beta of 1.18.

Canadian Natural Resources (NYSE:CNQ) (TSE:CNQ) last posted its earnings results on Thursday, March 7th. The oil and gas producer reported ($0.07) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.14 by ($0.21). The business had revenue of $2.80 billion for the quarter, compared to analyst estimates of $3.99 billion. Canadian Natural Resources had a net margin of 11.69% and a return on equity of 9.62%. Research analysts forecast that Canadian Natural Resources Ltd will post 1.54 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which was paid on Monday, April 1st. Investors of record on Friday, March 22nd were issued a dividend of $0.2821 per share. This is a positive change from Canadian Natural Resources’s previous quarterly dividend of $0.26. The ex-dividend date of this dividend was Thursday, March 21st. This represents a $1.13 annualized dividend and a dividend yield of 3.74%. Canadian Natural Resources’s payout ratio is presently 53.02%.

A number of institutional investors have recently added to or reduced their stakes in the stock. IFP Advisors Inc increased its stake in Canadian Natural Resources by 71.7% during the 4th quarter. IFP Advisors Inc now owns 1,042 shares of the oil and gas producer’s stock worth $25,000 after buying an additional 435 shares during the period. Quadrant Capital Group LLC increased its stake in Canadian Natural Resources by 7.9% during the 4th quarter. Quadrant Capital Group LLC now owns 6,183 shares of the oil and gas producer’s stock worth $142,000 after buying an additional 454 shares during the period. Lourd Capital LLC increased its stake in Canadian Natural Resources by 1.1% during the 4th quarter. Lourd Capital LLC now owns 52,363 shares of the oil and gas producer’s stock worth $1,264,000 after buying an additional 552 shares during the period. Gulf International Bank UK Ltd increased its stake in Canadian Natural Resources by 2.6% during the 1st quarter. Gulf International Bank UK Ltd now owns 23,708 shares of the oil and gas producer’s stock worth $651,000 after buying an additional 600 shares during the period. Finally, Raymond James Financial Services Advisors Inc. increased its position in shares of Canadian Natural Resources by 2.3% in the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 42,786 shares of the oil and gas producer’s stock worth $1,033,000 after purchasing an additional 966 shares during the last quarter. 66.89% of the stock is currently owned by hedge funds and other institutional investors.

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Canadian Natural Resources Company Profile (NYSE:CNQ)

Canadian Natural Resources Limited explores for, develops, produces, and markets crude oil, natural gas, and natural gas liquids (NGLs). The company offers light and medium crude oil, primary heavy crude oil, Pelican Lake heavy crude oil, bitumen, and synthetic crude oil (SCO). 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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