Investec Asset Management LTD trimmed its position in Canadian Natural Resource Ltd (NYSE:CNQ) (TSE:CNQ) by 1.3% in the second quarter, according to its most recent filing with the SEC. The fund owned 2,277,328 shares of the oil and gas producer’s stock after selling 30,913 shares during the period. Investec Asset Management LTD owned 0.19% of Canadian Natural Resource worth $82,146,000 as of its most recent filing with the SEC.
Other institutional investors and hedge funds have also recently made changes to their positions in the company. Signaturefd LLC bought a new position in shares of Canadian Natural Resource in the 1st quarter valued at $147,000. PenderFund Capital Management Ltd. bought a new position in shares of Canadian Natural Resource in the 1st quarter valued at $223,000. Ostrum Asset Management bought a new position in shares of Canadian Natural Resource in the 1st quarter valued at $168,000. Worth Venture Partners LLC bought a new position in shares of Canadian Natural Resource in the 1st quarter valued at $225,000. Finally, Canandaigua National Bank & Trust Co. bought a new position in shares of Canadian Natural Resource in the 1st quarter valued at $235,000. Institutional investors own 67.08% of the company’s stock.
A number of research analysts have recently commented on the company. Zacks Investment Research cut Canadian Natural Resource from a “buy” rating to a “hold” rating in a research note on Tuesday. Evercore ISI assumed coverage on Canadian Natural Resource in a research note on Wednesday, June 27th. They issued an “inline” rating for the company. Morgan Stanley increased their price target on Canadian Natural Resource from $55.00 to $64.00 and gave the company an “overweight” rating in a research note on Wednesday, May 23rd. Finally, ValuEngine cut Canadian Natural Resource from a “hold” rating to a “sell” rating in a research note on Thursday, August 2nd. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and four have given a buy rating to the stock. Canadian Natural Resource has a consensus rating of “Hold” and an average price target of $52.25.
Shares of NYSE:CNQ opened at $35.60 on Thursday. The firm has a market cap of $43.52 billion, a P/E ratio of 42.89, a P/E/G ratio of 2.41 and a beta of 1.24. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.02 and a quick ratio of 0.81. Canadian Natural Resource Ltd has a 12-month low of $29.20 and a 12-month high of $38.20.
Canadian Natural Resource (NYSE:CNQ) (TSE:CNQ) last announced its earnings results on Thursday, August 2nd. The oil and gas producer reported $1.04 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.54 by $0.50. The business had revenue of $4.61 billion during the quarter, compared to analyst estimates of $4.28 billion. Canadian Natural Resource had a return on equity of 8.35% and a net margin of 12.34%. During the same period last year, the company earned $0.29 EPS. analysts expect that Canadian Natural Resource Ltd will post 2.69 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Monday, October 1st. Investors of record on Friday, September 14th will be given a dividend of $0.257 per share. This represents a $1.03 annualized dividend and a yield of 2.89%. The ex-dividend date of this dividend is Thursday, September 13th. Canadian Natural Resource’s dividend payout ratio is currently 124.10%.
About Canadian Natural Resource
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.
Read More: What is a Fiduciary?
Want to see what other hedge funds are holding CNQ? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Canadian Natural Resource Ltd (NYSE:CNQ) (TSE:CNQ).
Receive News & Ratings for Canadian Natural Resource Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Canadian Natural Resource and related companies with MarketBeat.com's FREE daily email newsletter.