Aigen Investment Management LP Sells 28,542 Shares of Canadian Natural Resources Limited $CNQ

Key Points

• Aigen Investment Management LP reduced its stake in Canadian Natural Resources Limited by 70.4%, owning 12,003 shares worth approximately $370,000 after selling 28,542 shares.
• Several institutional investors increased their holdings in Canadian Natural Resources, contributing to a current ownership of 74.03% by institutional investors and hedge funds.
• The firm declared a quarterly dividend of $0.4269, yielding 5.7%, which is an increase from its previous quarterly dividend of $0.42.

Aigen Investment Management LP lowered its position in shares of Canadian Natural Resources Limited (NYSE:CNQ - Free Report) TSE: CNQ by 70.4% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 12,003 shares of the oil and gas producer's stock after selling 28,542 shares during the quarter. Aigen Investment Management LP's holdings in Canadian Natural Resources were worth $370,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the company. Graybill Wealth Management LTD. bought a new stake in Canadian Natural Resources in the first quarter worth approximately $3,697,000. Janney Montgomery Scott LLC bought a new stake in Canadian Natural Resources in the first quarter worth $757,000. PKO Investment Management Joint Stock Co bought a new stake in Canadian Natural Resources in the fourth quarter worth $2,452,000. Baskin Financial Services Inc. increased its holdings in shares of Canadian Natural Resources by 0.9% during the 1st quarter. Baskin Financial Services Inc. now owns 1,005,012 shares of the oil and gas producer's stock valued at $30,921,000 after acquiring an additional 8,861 shares during the last quarter. Finally, Institute for Wealth Management LLC. bought a new position in shares of Canadian Natural Resources in the first quarter valued at approximately $385,000. Hedge funds and other institutional investors own 74.03% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on CNQ shares. Raymond James Financial reiterated an "outperform" rating on shares of Canadian Natural Resources in a research note on Friday, August 8th. Scotiabank reaffirmed an "outperform" rating on shares of Canadian Natural Resources in a research report on Friday, July 11th. Royal Bank Of Canada cut their price objective on Canadian Natural Resources from $64.00 to $62.00 and set an "outperform" rating for the company in a research report on Friday, August 8th. Finally, National Bankshares reiterated a "sector perform" rating on shares of Canadian Natural Resources in a report on Thursday, July 17th. Three investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, Canadian Natural Resources currently has a consensus rating of "Moderate Buy" and an average price target of $62.00.

Canadian Natural Resources Trading Up 0.2%

Shares of Canadian Natural Resources stock traded up $0.05 on Monday, hitting $29.89. 1,943,383 shares of the company's stock traded hands, compared to its average volume of 6,420,013. The firm's 50-day moving average price is $31.68 and its two-hundred day moving average price is $30.33. The company has a debt-to-equity ratio of 0.38, a current ratio of 0.85 and a quick ratio of 0.54. The stock has a market capitalization of $62.43 billion, a PE ratio of 10.60 and a beta of 1.05. Canadian Natural Resources Limited has a one year low of $24.65 and a one year high of $37.91.

Canadian Natural Resources (NYSE:CNQ - Get Free Report) TSE: CNQ last posted its earnings results on Thursday, August 7th. The oil and gas producer reported $0.51 earnings per share for the quarter, topping the consensus estimate of $0.44 by $0.07. The company had revenue of $6.39 billion for the quarter, compared to analyst estimates of $8.97 billion. Canadian Natural Resources had a net margin of 19.00% and a return on equity of 19.67%. During the same period last year, the business posted $0.88 earnings per share. On average, research analysts expect that Canadian Natural Resources Limited will post 2.45 EPS for the current fiscal year.

Canadian Natural Resources Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 3rd. Shareholders of record on Friday, September 19th will be given a dividend of $0.4269 per share. This is a boost from Canadian Natural Resources's previous quarterly dividend of $0.42. The ex-dividend date of this dividend is Friday, September 19th. This represents a $1.71 annualized dividend and a yield of 5.7%. Canadian Natural Resources's payout ratio is presently 60.64%.

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).