Korea Investment CORP lowered its position in shares of Canadian Natural Resources Ltd (NYSE:CNQ) (TSE:CNQ) by 55.5% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 357,885 shares of the oil and gas producer’s stock after selling 446,500 shares during the quarter. Korea Investment CORP’s holdings in Canadian Natural Resources were worth $11,684,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently made changes to their positions in CNQ. Legacy Financial Advisors Inc. acquired a new stake in shares of Canadian Natural Resources during the 3rd quarter worth approximately $148,000. Livingston Group Asset Management CO operating as Southport Capital Management acquired a new stake in shares of Canadian Natural Resources during the 3rd quarter worth approximately $153,000. Cubist Systematic Strategies LLC raised its position in shares of Canadian Natural Resources by 50.0% during the 2nd quarter. Cubist Systematic Strategies LLC now owns 5,400 shares of the oil and gas producer’s stock worth $195,000 after purchasing an additional 1,800 shares during the period. Checchi Capital Advisers LLC acquired a new stake in shares of Canadian Natural Resources during the 3rd quarter worth approximately $212,000. Finally, Signaturefd LLC raised its position in shares of Canadian Natural Resources by 49.7% during the 2nd quarter. Signaturefd LLC now owns 6,999 shares of the oil and gas producer’s stock worth $252,000 after purchasing an additional 2,323 shares during the period. Hedge funds and other institutional investors own 66.40% of the company’s stock.
CNQ has been the topic of a number of research reports. Zacks Investment Research cut Canadian Natural Resources from a “hold” rating to a “sell” rating in a research report on Wednesday, October 3rd. Royal Bank of Canada cut Canadian Natural Resources from a “top pick” rating to an “outperform” rating and set a $38.40 price target on the stock. in a research report on Thursday, September 20th. They noted that the move was a valuation call. Macquarie cut Canadian Natural Resources from an “outperform” rating to a “neutral” rating in a research report on Tuesday, October 9th. Raymond James reissued a “buy” rating on shares of Canadian Natural Resources in a report on Friday, November 2nd. Finally, Morgan Stanley decreased their price objective on Canadian Natural Resources from $64.00 to $60.00 and set an “overweight” rating for the company in a report on Friday, October 12th. Two analysts have rated the stock with a sell rating, two have given a hold rating and seven have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and an average target price of $46.08.
Canadian Natural Resources (NYSE:CNQ) (TSE:CNQ) last issued its quarterly earnings data 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 return on equity of 12.33% and a net margin of 15.94%. The business had revenue of $4.51 billion during the quarter, compared to analyst estimates of $4.71 billion. During the same period in the prior year, the company posted $0.19 EPS. Equities research analysts forecast that Canadian Natural Resources Ltd will post 2.75 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 1st. Investors of record on Monday, December 10th will be issued a $0.255 dividend. This represents a $1.02 dividend on an annualized basis and a yield of 4.06%. The ex-dividend date of this dividend is Friday, December 7th. Canadian Natural Resources’s dividend payout ratio (DPR) is 124.10%.
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About Canadian Natural Resources
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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