State of Tennessee Treasury Department cut its stake in shares of Canadian Natural Resources Ltd (NYSE:CNQ) (TSE:CNQ) by 12.7% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,049,345 shares of the oil and gas producer’s stock after selling 153,265 shares during the quarter. State of Tennessee Treasury Department owned approximately 0.09% of Canadian Natural Resources worth $14,196,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. National Pension Service increased its holdings in Canadian Natural Resources by 1.8% during the 1st quarter. National Pension Service now owns 1,922,340 shares of the oil and gas producer’s stock worth $37,005,000 after purchasing an additional 34,491 shares in the last quarter. HighTower Advisors LLC boosted its stake in shares of Canadian Natural Resources by 19.4% in the 1st quarter. HighTower Advisors LLC now owns 111,690 shares of the oil and gas producer’s stock worth $1,512,000 after buying an additional 18,164 shares during the last quarter. APG Asset Management N.V. boosted its stake in shares of Canadian Natural Resources by 472.3% in the 1st quarter. APG Asset Management N.V. now owns 684,872 shares of the oil and gas producer’s stock worth $9,263,000 after buying an additional 565,200 shares during the last quarter. Soros Fund Management LLC boosted its stake in shares of Canadian Natural Resources by 100.0% in the 1st quarter. Soros Fund Management LLC now owns 200,000 shares of the oil and gas producer’s stock worth $2,710,000 after buying an additional 100,000 shares during the last quarter. Finally, Voloridge Investment Management LLC boosted its stake in shares of Canadian Natural Resources by 235.5% in the 1st quarter. Voloridge Investment Management LLC now owns 76,999 shares of the oil and gas producer’s stock worth $1,043,000 after buying an additional 54,046 shares during the last quarter. 68.01% of the stock is currently owned by hedge funds and other institutional investors.

A number of research analysts recently commented on CNQ shares. Evercore ISI raised Canadian Natural Resources from an “in-line” rating to an “outperform” rating and set a $30.00 target price on the stock in a research note on Friday, May 1st. UBS Group cut their price target on shares of Canadian Natural Resources from $55.00 to $28.00 and set a “buy” rating for the company in a research report on Tuesday, March 31st. JPMorgan Chase & Co. cut their price target on shares of Canadian Natural Resources from $44.00 to $32.00 and set an “overweight” rating for the company in a research report on Wednesday, March 11th. Deutsche Bank increased their target price on shares of Canadian Natural Resources from $84.00 to $92.00 and gave the stock a “hold” rating in a report on Wednesday, June 17th. Finally, Royal Bank of Canada increased their target price on shares of Canadian Natural Resources from $24.00 to $27.00 and gave the stock an “outperform” rating in a report on Friday, May 8th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and eleven have issued a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus price target of $39.15.

Shares of CNQ traded down $0.59 on Friday, hitting $16.72. 84,968 shares of the stock traded hands, compared to its average volume of 4,938,987. The company has a market capitalization of $19.94 billion, a PE ratio of 8.49 and a beta of 1.75. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.51 and a current ratio of 0.66. The business has a 50 day simple moving average of $18.14 and a 200 day simple moving average of $22.12. Canadian Natural Resources Ltd has a one year low of $6.71 and a one year high of $32.79.

Canadian Natural Resources (NYSE:CNQ) (TSE:CNQ) last announced its quarterly earnings results on Thursday, May 7th. The oil and gas producer reported ($0.25) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.04 by ($0.29). The firm had revenue of $3.36 billion for the quarter, compared to the consensus estimate of $3.61 billion. Canadian Natural Resources had a net margin of 13.51% and a return on equity of 6.70%. During the same period last year, the business earned $0.70 EPS. On average, equities analysts expect that Canadian Natural Resources Ltd will post -1.09 earnings per share for the current year.

The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 1st. Investors of record on Friday, June 12th will be given a dividend of $0.3003 per share. This represents a $1.20 annualized dividend and a dividend yield of 7.18%. The ex-dividend date is Thursday, June 11th. Canadian Natural Resources’s dividend payout ratio (DPR) is currently 54.19%.

Canadian Natural Resources Company Profile

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

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