Yacktman Asset Management LP Cuts Holdings in Canadian Natural Resources Limited (NYSE:CNQ)

Yacktman Asset Management LP lessened its stake in shares of Canadian Natural Resources Limited (NYSE:CNQ) (TSE:CNQ) by 1.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 14,929,792 shares of the oil and gas producer’s stock after selling 149,461 shares during the period. Canadian Natural Resources accounts for 9.1% of Yacktman Asset Management LP’s portfolio, making the stock its largest holding. Yacktman Asset Management LP owned 1.39% of Canadian Natural Resources worth $978,200,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently modified their holdings of CNQ. Raymond James Financial Services Advisors Inc. lifted its holdings in shares of Canadian Natural Resources by 993.8% during the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 206,580 shares of the oil and gas producer’s stock worth $13,535,000 after buying an additional 187,694 shares during the last quarter. Cerity Partners LLC boosted its holdings in Canadian Natural Resources by 556.7% in the 4th quarter. Cerity Partners LLC now owns 96,338 shares of the oil and gas producer’s stock valued at $6,312,000 after purchasing an additional 81,669 shares during the period. Baskin Financial Services Inc. grew its position in Canadian Natural Resources by 3.5% in the 4th quarter. Baskin Financial Services Inc. now owns 464,287 shares of the oil and gas producer’s stock worth $30,406,000 after purchasing an additional 15,546 shares during the last quarter. Principal Financial Group Inc. increased its holdings in shares of Canadian Natural Resources by 130.6% during the 3rd quarter. Principal Financial Group Inc. now owns 158,407 shares of the oil and gas producer’s stock worth $10,292,000 after purchasing an additional 89,700 shares during the period. Finally, NewEdge Wealth LLC lifted its stake in shares of Canadian Natural Resources by 10.8% in the fourth quarter. NewEdge Wealth LLC now owns 456,414 shares of the oil and gas producer’s stock valued at $29,904,000 after buying an additional 44,568 shares during the period. Institutional investors own 74.03% of the company’s stock.

Canadian Natural Resources Price Performance

Shares of Canadian Natural Resources stock traded up $0.62 during mid-day trading on Friday, reaching $77.96. 1,066,492 shares of the stock were exchanged, compared to its average volume of 3,301,020. The company has a market cap of $83.58 billion, a price-to-earnings ratio of 13.96 and a beta of 1.54. Canadian Natural Resources Limited has a fifty-two week low of $52.66 and a fifty-two week high of $82.58. The company has a current ratio of 0.96, a quick ratio of 0.69 and a debt-to-equity ratio of 0.25. The firm has a 50-day simple moving average of $73.82 and a 200 day simple moving average of $67.68.

Canadian Natural Resources (NYSE:CNQ) (TSE:CNQ) last posted its quarterly earnings data on Thursday, February 29th. The oil and gas producer reported $1.72 earnings per share for the quarter, beating the consensus estimate of $1.59 by $0.13. Canadian Natural Resources had a net margin of 20.15% and a return on equity of 21.74%. The firm had revenue of $7.02 billion during the quarter, compared to analysts’ expectations of $6.73 billion. On average, sell-side analysts predict that Canadian Natural Resources Limited will post 5.71 EPS for the current fiscal year.

Canadian Natural Resources Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, April 5th. Stockholders of record on Friday, March 15th were paid a $0.774 dividend. This is a boost from Canadian Natural Resources’s previous quarterly dividend of $0.72. This represents a $3.10 annualized dividend and a dividend yield of 3.97%. The ex-dividend date was Thursday, March 14th. Canadian Natural Resources’s dividend payout ratio (DPR) is 53.25%.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on CNQ. Desjardins lowered Canadian Natural Resources from a “buy” rating to a “hold” rating in a report on Tuesday. JPMorgan Chase & Co. raised their price objective on shares of Canadian Natural Resources from $101.00 to $102.00 and gave the stock a “neutral” rating in a report on Thursday, January 11th. Six analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $94.00.

Canadian Natural Resources Profile

Canadian Natural Resources Limited acquires, explores for, develops, produces, markets, and sells 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 (thermal oil), and synthetic crude oil (SCO).