EverSource Wealth Advisors LLC Lowers Stock Holdings in Canadian Natural Resources Limited (NYSE:CNQ)

EverSource Wealth Advisors LLC reduced its stake in Canadian Natural Resources Limited (NYSE:CNQ) (TSE:CNQ) by 44.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. 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.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Duncker Streett & Co. Inc. purchased a new stake in shares of Canadian Natural Resources in the fourth quarter valued at approximately $25,000. Continuum Advisory LLC boosted its stake in shares of Canadian Natural Resources by 144.1% in the third quarter. Continuum Advisory LLC now owns 830 shares of the oil and gas producer’s stock valued at $28,000 after buying an additional 490 shares in the last quarter. R Squared Ltd purchased a new stake in shares of Canadian Natural Resources in the fourth quarter valued at approximately $32,000. Newbridge Financial Services Group Inc. purchased a new stake in shares of Canadian Natural Resources in the fourth quarter valued at approximately $35,000. Finally, Wilmington Savings Fund Society FSB purchased a new stake in shares of Canadian Natural Resources in the third quarter valued at approximately $37,000. 74.03% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms recently weighed in on CNQ. Evercore ISI upgraded Canadian Natural Resources from an “in-line” rating to an “outperform” rating in a research note on Friday, March 7th. Scotiabank upgraded Canadian Natural Resources from a “sector perform” rating to a “sector outperform” rating in a research note on Wednesday. Royal Bank of Canada lifted their price objective on Canadian Natural Resources from $62.00 to $63.00 and gave the stock an “outperform” rating in a report on Friday, March 7th. Raymond James reaffirmed a “market perform” rating on shares of Canadian Natural Resources in a report on Friday, March 7th. Finally, Tudor Pickering cut Canadian Natural Resources from a “strong-buy” rating to a “hold” rating in a report on Monday, February 10th. Four analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $63.00.

Canadian Natural Resources Stock Performance

Shares of CNQ stock opened at $30.66 on Thursday. Canadian Natural Resources Limited has a 1 year low of $25.62 and a 1 year high of $41.29. The stock has a market cap of $64.40 billion, a PE ratio of 11.91 and a beta of 1.48. The stock has a fifty day moving average price of $30.10 and a 200 day moving average price of $32.29. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.53 and a current ratio of 0.84.

Canadian Natural Resources Increases Dividend

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

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).