Acorn Advisory Capital L.P. decreased its holdings in shares of Canadian Natural Resources Ltd (NYSE:CNQ) (TSE:CNQ) by 36.4% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 26,700 shares of the oil and gas producer’s stock after selling 15,300 shares during the quarter. Canadian Natural Resources comprises about 1.0% of Acorn Advisory Capital L.P.’s investment portfolio, making the stock its 14th largest position. Acorn Advisory Capital L.P.’s holdings in Canadian Natural Resources were worth $872,000 at the end of the most recent quarter.
A number of other institutional investors have also added to or reduced their stakes in CNQ. OMERS ADMINISTRATION Corp grew its holdings in shares of Canadian Natural Resources by 55.1% in the second quarter. OMERS ADMINISTRATION Corp now owns 7,440,117 shares of the oil and gas producer’s stock worth $268,373,000 after purchasing an additional 2,641,812 shares during the last quarter. Mawer Investment Management Ltd. grew its holdings in Canadian Natural Resources by 5.8% during the 2nd quarter. Mawer Investment Management Ltd. now owns 8,304,750 shares of the oil and gas producer’s stock worth $299,994,000 after acquiring an additional 456,451 shares in the last quarter. Cubist Systematic Strategies LLC lifted its position in shares of Canadian Natural Resources by 50.0% during the second quarter. Cubist Systematic Strategies LLC now owns 5,400 shares of the oil and gas producer’s stock valued at $195,000 after buying an additional 1,800 shares during the last quarter. AGF Investments Inc. lifted its position in shares of Canadian Natural Resources by 12.3% during the second quarter. AGF Investments Inc. now owns 2,570,640 shares of the oil and gas producer’s stock valued at $92,783,000 after buying an additional 281,662 shares during the last quarter. Finally, Natixis purchased a new stake in shares of Canadian Natural Resources during the second quarter valued at about $886,000. 66.30% of the stock is currently owned by institutional investors.
Several equities analysts recently commented on CNQ shares. Canaccord Genuity reaffirmed a “buy” rating and issued a $50.00 price objective on shares of Canadian Natural Resources in a research report on Tuesday, November 20th. Raymond James reissued a “buy” rating on shares of Canadian Natural Resources in a research report on Friday, November 2nd. Royal Bank of Canada reissued a “buy” rating on shares of Canadian Natural Resources in a research report on Friday, November 2nd. Zacks Investment Research lowered shares of Canadian Natural Resources from a “buy” rating to a “hold” rating in a research report on Tuesday, August 28th. Finally, Macquarie lowered shares of Canadian Natural Resources from an “outperform” rating to a “neutral” rating in a research report on Tuesday, October 9th. Two research analysts have rated the stock with a sell rating, one has assigned a hold rating and eight have issued a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus target price of $46.08.
Canadian Natural Resources (NYSE:CNQ) (TSE:CNQ) last posted its quarterly earnings results on Thursday, November 1st. The oil and gas producer reported $1.11 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.66 by $0.45. Canadian Natural Resources had a net margin of 15.94% and a return on equity of 12.33%. The company had revenue of $4.51 billion during the quarter, compared to analyst estimates of $4.71 billion. During the same period last year, the firm posted $0.19 EPS. As a group, analysts predict that Canadian Natural Resources Ltd will post 2.72 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, January 1st. Investors of record on Monday, December 10th will be paid a $0.255 dividend. The ex-dividend date is Friday, December 7th. This represents a $1.02 dividend on an annualized basis and a yield of 3.77%. Canadian Natural Resources’s dividend payout ratio is currently 124.10%.
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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 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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