Van ECK Associates Corp Sells 2,389 Shares of Canadian Natural Resources Limited (CNQ)

Van ECK Associates Corp cut its holdings in Canadian Natural Resources Limited (NYSE:CNQ) (TSE:CNQ) by 15.7% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 12,858 shares of the oil and gas producer’s stock after selling 2,389 shares during the quarter. Van ECK Associates Corp’s holdings in Canadian Natural Resources were worth $431,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in CNQ. FTB Advisors Inc. grew its position in Canadian Natural Resources by 1.3% during the 2nd quarter. FTB Advisors Inc. now owns 3,180 shares of the oil and gas producer’s stock valued at $102,000 after purchasing an additional 41 shares during the last quarter. Fiduciary Trust Co. purchased a new stake in Canadian Natural Resources during the 2nd quarter valued at about $126,000. Lucas Capital Management purchased a new stake in Canadian Natural Resources during the 3rd quarter valued at about $203,000. Morningstar Investment Services LLC purchased a new stake in Canadian Natural Resources during the 2nd quarter valued at about $218,000. Finally, Private Advisor Group LLC grew its position in Canadian Natural Resources by 24.0% during the 2nd quarter. Private Advisor Group LLC now owns 7,672 shares of the oil and gas producer’s stock valued at $220,000 after purchasing an additional 1,485 shares during the last quarter. 59.43% of the stock is currently owned by hedge funds and other institutional investors.

Canadian Natural Resources Limited (NYSE CNQ) opened at $35.24 on Monday. The company has a debt-to-equity ratio of 0.67, a quick ratio of 0.56 and a current ratio of 0.71. The stock has a market cap of $42,927.26, a PE ratio of 38.72, a price-to-earnings-growth ratio of 8.90 and a beta of 1.46. Canadian Natural Resources Limited has a one year low of $27.52 and a one year high of $36.79.

The business also recently announced a quarterly dividend, which will be paid on Monday, January 1st. Shareholders of record on Tuesday, December 12th will be paid a dividend of $0.214 per share. This represents a $0.86 annualized dividend and a yield of 2.43%. The ex-dividend date is Monday, December 11th. Canadian Natural Resources’s dividend payout ratio is currently 52.07%.

Several analysts recently commented on CNQ shares. Zacks Investment Research downgraded shares of Canadian Natural Resources from a “hold” rating to a “sell” rating in a research report on Tuesday, August 8th. Canaccord Genuity reissued a “buy” rating and set a $47.00 price objective on shares of Canadian Natural Resources in a research report on Tuesday, September 5th. Finally, Morgan Stanley increased their price objective on shares of Canadian Natural Resources from $46.00 to $52.00 and gave the company an “overweight” rating in a research report on Friday, October 13th. Two research analysts have rated the stock with a sell rating, two have given a hold rating, nine have given a buy rating and one has given a strong buy rating to the company’s stock. Canadian Natural Resources has a consensus rating of “Buy” and an average target price of $45.90.

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Canadian Natural Resources Company Profile

Canadian Natural Resources Limited is an independent crude oil and natural gas exploration, development and production company. The Company’s segments include Exploration and Production, Oil Sands Mining and Upgrading, and Midstream. The Exploration and Production segment includes exploration, development, production and marketing of crude oil, natural gas liquids (NGLs) and natural gas.

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Institutional Ownership by Quarter for Canadian Natural Resources (NYSE:CNQ)

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