Canadian Natural Resources Limited (NYSE:CNQ) Shares Sold by EverSource Wealth Advisors LLC

EverSource Wealth Advisors LLC trimmed its stake in Canadian Natural Resources Limited (NYSE:CNQ) (TSE:CNQ) by 44.4% in the fourth quarter, HoldingsChannel.com reports. The fund owned 1,987 shares of the oil and gas producer’s stock after selling 1,588 shares during the quarter. EverSource Wealth Advisors LLC’s holdings in Canadian Natural Resources were worth $61,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in the business. Fisher Asset Management LLC increased its stake in Canadian Natural Resources by 1.3% in the fourth quarter. Fisher Asset Management LLC now owns 44,131,266 shares of the oil and gas producer’s stock valued at $1,362,332,000 after purchasing an additional 550,242 shares during the last quarter. The Manufacturers Life Insurance Company increased its stake in Canadian Natural Resources by 5.1% in the third quarter. The Manufacturers Life Insurance Company now owns 28,468,127 shares of the oil and gas producer’s stock valued at $945,965,000 after purchasing an additional 1,383,478 shares during the last quarter. CIBC Asset Management Inc increased its stake in Canadian Natural Resources by 5.6% in the fourth quarter. CIBC Asset Management Inc now owns 24,109,432 shares of the oil and gas producer’s stock valued at $746,025,000 after purchasing an additional 1,270,945 shares during the last quarter. Geode Capital Management LLC increased its stake in Canadian Natural Resources by 8.1% in the third quarter. Geode Capital Management LLC now owns 9,768,297 shares of the oil and gas producer’s stock valued at $328,807,000 after purchasing an additional 727,798 shares during the last quarter. Finally, National Bank of Canada FI increased its stake in Canadian Natural Resources by 63.5% in the third quarter. National Bank of Canada FI now owns 8,233,388 shares of the oil and gas producer’s stock valued at $273,417,000 after purchasing an additional 3,198,007 shares during the last quarter. 74.03% of the stock is currently owned by institutional investors and hedge funds.

Canadian Natural Resources Price Performance

CNQ stock opened at $30.66 on Thursday. The stock has a 50-day moving average price of $30.10 and a two-hundred day moving average price of $32.29. Canadian Natural Resources Limited has a 12-month low of $25.62 and a 12-month high of $41.29. The company has a current ratio of 0.84, a quick ratio of 0.53 and a debt-to-equity ratio of 0.21. The company has a market cap of $64.40 billion, a PE ratio of 11.91 and a beta of 1.48.

Canadian Natural Resources Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, April 4th. Stockholders of record on Friday, March 21st will be given a $0.4117 dividend. This is an increase from Canadian Natural Resources’s previous quarterly dividend of $0.39. The ex-dividend date of this dividend is Friday, March 21st. This represents a $1.65 annualized dividend and a dividend yield of 5.37%. Canadian Natural Resources’s dividend payout ratio is presently 77.88%.

Analyst Upgrades and Downgrades

Several research firms recently commented on CNQ. Tudor Pickering lowered Canadian Natural Resources from a “strong-buy” rating to a “hold” rating in a research note on Monday, February 10th. Evercore ISI upgraded Canadian Natural Resources from an “in-line” rating to an “outperform” rating in a research note on Friday, March 7th. Royal Bank of Canada boosted their price target on Canadian Natural Resources from $62.00 to $63.00 and gave the company an “outperform” rating in a research report on Friday, March 7th. Scotiabank raised Canadian Natural Resources from a “sector perform” rating to a “sector outperform” rating in a research report on Wednesday. Finally, Raymond James reissued a “market perform” rating on shares of Canadian Natural Resources in a research report on Friday, March 7th. Four research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $63.00.

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).