Candriam S.C.A. Sells 2,879 Shares of Canadian Natural Resources Limited $CNQ

Candriam S.C.A. cut its position in Canadian Natural Resources Limited (NYSE:CNQ) (TSE:CNQ) by 22.7% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 9,810 shares of the oil and gas producer’s stock after selling 2,879 shares during the period. Candriam S.C.A.’s holdings in Canadian Natural Resources were worth $308,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors also recently modified their holdings of CNQ. Ameritas Advisory Services LLC purchased a new stake in Canadian Natural Resources in the 2nd quarter worth $27,000. Addison Advisors LLC grew its position in shares of Canadian Natural Resources by 309.1% during the second quarter. Addison Advisors LLC now owns 896 shares of the oil and gas producer’s stock worth $28,000 after purchasing an additional 677 shares in the last quarter. Investment Management Corp VA ADV raised its stake in Canadian Natural Resources by 158.3% during the 1st quarter. Investment Management Corp VA ADV now owns 997 shares of the oil and gas producer’s stock valued at $31,000 after purchasing an additional 611 shares during the period. Geneos Wealth Management Inc. lifted its holdings in Canadian Natural Resources by 47.3% in the 1st quarter. Geneos Wealth Management Inc. now owns 1,644 shares of the oil and gas producer’s stock worth $51,000 after purchasing an additional 528 shares in the last quarter. Finally, Adirondack Trust Co. lifted its holdings in Canadian Natural Resources by 317.1% in the 2nd quarter. Adirondack Trust Co. now owns 1,710 shares of the oil and gas producer’s stock worth $54,000 after purchasing an additional 1,300 shares in the last quarter. Hedge funds and other institutional investors own 74.03% of the company’s stock.

Canadian Natural Resources Price Performance

Shares of CNQ stock opened at $33.36 on Tuesday. The stock has a 50 day moving average price of $31.80 and a 200 day moving average price of $31.42. Canadian Natural Resources Limited has a 52-week low of $24.65 and a 52-week high of $34.97. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.54 and a current ratio of 0.85. The firm has a market capitalization of $69.49 billion, a P/E ratio of 11.83 and a beta of 0.96.

Canadian Natural Resources (NYSE:CNQ) (TSE:CNQ) last released its earnings results on Thursday, November 6th. The oil and gas producer reported $0.62 earnings per share for the quarter, topping analysts’ consensus estimates of $0.54 by $0.08. Canadian Natural Resources had a return on equity of 19.67% and a net margin of 19.00%.The business had revenue of $6.79 billion for the quarter, compared to analyst estimates of $6.81 billion. During the same quarter last year, the firm posted $0.97 earnings per share. As a group, sell-side analysts predict that Canadian Natural Resources Limited will post 2.45 earnings per share for the current year.

Canadian Natural Resources Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 6th. Investors of record on Friday, December 12th will be issued a dividend of $0.5875 per share. This represents a $2.35 dividend on an annualized basis and a yield of 7.0%. The ex-dividend date is Friday, December 12th. This is a positive change from Canadian Natural Resources’s previous quarterly dividend of $0.43. Canadian Natural Resources’s dividend payout ratio (DPR) is 73.89%.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on CNQ shares. TD Securities reiterated a “buy” rating on shares of Canadian Natural Resources in a research report on Tuesday, September 30th. Weiss Ratings reiterated a “hold (c)” rating on shares of Canadian Natural Resources in a report on Wednesday, October 8th. Raymond James Financial reiterated an “outperform” rating on shares of Canadian Natural Resources in a research note on Friday, August 8th. Wells Fargo & Company upgraded Canadian Natural Resources to a “hold” rating in a research report on Thursday, October 16th. Finally, Scotiabank reaffirmed an “outperform” rating on shares of Canadian Natural Resources in a report on Thursday, October 9th. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat.com, Canadian Natural Resources presently has a consensus rating of “Moderate Buy” and an average target price of $62.00.

About Canadian Natural Resources

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).