Canadian Natural Resources Limited $CNQ Shares Sold by Corient Private Wealth LP

Corient Private Wealth LP cut its stake in shares of Canadian Natural Resources Limited (NYSE:CNQ - Free Report) TSE: CNQ by 4.4% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 437,018 shares of the oil and gas producer's stock after selling 20,237 shares during the quarter. Corient Private Wealth LP's holdings in Canadian Natural Resources were worth $17,263,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in CNQ. Capital Research Global Investors boosted its stake in Canadian Natural Resources by 31.5% during the 4th quarter. Capital Research Global Investors now owns 146,331,336 shares of the oil and gas producer's stock valued at $4,956,204,000 after purchasing an additional 35,067,143 shares during the period. Arrowstreet Capital Limited Partnership bought a new stake in shares of Canadian Natural Resources during the first quarter valued at approximately $1,411,619,000. Healthcare of Ontario Pension Plan Trust Fund raised its holdings in shares of Canadian Natural Resources by 10.0% during the first quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 37,457,500 shares of the oil and gas producer's stock valued at $1,826,578,000 after buying an additional 3,397,500 shares during the last quarter. Mufg Securities Canada LTD. boosted its position in shares of Canadian Natural Resources by 105.7% during the second quarter. Mufg Securities Canada LTD. now owns 6,350,644 shares of the oil and gas producer's stock worth $250,892,000 after buying an additional 3,262,880 shares during the period. Finally, Bank of New York Mellon Corp acquired a new position in shares of Canadian Natural Resources during the second quarter worth approximately $117,215,000. 74.03% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts recently commented on CNQ shares. Weiss Ratings cut Canadian Natural Resources from a "buy (b)" rating to a "buy (b-)" rating in a research report on Friday, September 4th. Canadian Imperial Bank of Commerce reiterated an "outperform" rating on shares of Canadian Natural Resources in a research report on Thursday, August 27th. Zacks Research cut Canadian Natural Resources from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, August 19th. Desjardins raised Canadian Natural Resources to a "hold" rating in a report on Thursday, July 16th. Finally, Wall Street Zen upgraded shares of Canadian Natural Resources from a "hold" rating to a "buy" rating in a research note on Saturday, August 15th. Seven equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $57.00.

Canadian Natural Resources Trading Up 0.5%

Shares of CNQ stock opened at $50.33 on Tuesday. The stock has a 50-day simple moving average of $47.32 and a 200 day simple moving average of $46.23. The stock has a market capitalization of $103.79 billion, a P/E ratio of 12.43 and a beta of 0.47. Canadian Natural Resources Limited has a fifty-two week low of $29.68 and a fifty-two week high of $52.31. The company has a quick ratio of 0.75, a current ratio of 1.00 and a debt-to-equity ratio of 0.32.

Canadian Natural Resources (NYSE:CNQ - Get Free Report) TSE: CNQ last issued its quarterly earnings results on Thursday, August 6th. The oil and gas producer reported $1.58 EPS for the quarter, topping the consensus estimate of $1.43 by $0.15. Canadian Natural Resources had a net margin of 22.78% and a return on equity of 23.91%. The firm had revenue of $14.74 billion for the quarter, compared to analysts' expectations of $9.40 billion. On average, sell-side analysts expect that Canadian Natural Resources Limited will post 4.05 earnings per share for the current fiscal year.

Canadian Natural Resources Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 2nd. Stockholders of record on Friday, September 11th will be paid a $0.625 dividend. The ex-dividend date of this dividend is Friday, September 11th. This represents a $2.50 annualized dividend and a dividend yield of 5.0%. Canadian Natural Resources's payout ratio is currently 44.44%.

Canadian Natural Resources Profile

Canadian Natural Resources Limited (CNRL) is a Canadian independent crude oil and natural gas exploration, development, production, marketing and refining company headquartered in Calgary, Alberta. The company produces a range of energy products, including heavy and light crude oil, synthetic crude oil, natural gas and natural gas liquids.

CNRL's operations are concentrated in Western Canada, where it holds significant oil sands, conventional oil and natural gas assets. Its oil sands business includes mining and upgrading operations as well as in situ thermal projects.

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