Kerrisdale Advisers LLC Sells 45,650 Shares of Canadian Natural Resources Limited $CNQ

Key Points

• Kerrisdale Advisers reduced its Canadian Natural Resources stake by 62.4%, selling 45,650 shares during the second quarter and retaining 27,500 shares valued at approximately $1.09 million.
• Analyst sentiment remains generally positive: CNQ has an overall “Moderate Buy” rating, with seven Buy ratings and five Holds, and an average price target of $57.
• Canadian Natural Resources reported quarterly EPS of $1.58, beating estimates, and announced a quarterly dividend of $0.625 per share, representing a 5.1% annualized yield.

Kerrisdale Advisers LLC lessened its position in Canadian Natural Resources Limited (NYSE:CNQ - Free Report) TSE: CNQ by 62.4% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 27,500 shares of the oil and gas producer's stock after selling 45,650 shares during the period. Kerrisdale Advisers LLC's holdings in Canadian Natural Resources were worth $1,087,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in CNQ. Personal CFO Solutions LLC lifted its position in Canadian Natural Resources by 1.7% in the 1st quarter. Personal CFO Solutions LLC now owns 15,199 shares of the oil and gas producer's stock valued at $747,000 after acquiring an additional 251 shares in the last quarter. Ted Buchan & Co boosted its position in shares of Canadian Natural Resources by 0.6% during the fourth quarter. Ted Buchan & Co now owns 43,814 shares of the oil and gas producer's stock valued at $1,483,000 after buying an additional 260 shares during the last quarter. FDx Advisors Inc. increased its holdings in Canadian Natural Resources by 2.7% in the 4th quarter. FDx Advisors Inc. now owns 10,312 shares of the oil and gas producer's stock worth $349,000 after buying an additional 270 shares in the last quarter. Peak Financial Advisors LLC lifted its stake in Canadian Natural Resources by 0.3% during the 1st quarter. Peak Financial Advisors LLC now owns 93,840 shares of the oil and gas producer's stock valued at $4,573,000 after acquiring an additional 290 shares during the period. Finally, CoreCap Advisors LLC lifted its stake in Canadian Natural Resources by 15.4% during the 2nd quarter. CoreCap Advisors LLC now owns 2,202 shares of the oil and gas producer's stock valued at $87,000 after acquiring an additional 294 shares during the period. Hedge funds and other institutional investors own 74.03% of the company's stock.

Analysts Set New Price Targets

A number of research analysts recently weighed in on CNQ shares. TD Securities restated a "buy" rating on shares of Canadian Natural Resources in a research report on Friday, August 7th. Canadian Imperial Bank of Commerce reissued an "outperform" rating on shares of Canadian Natural Resources in a report on Thursday. Wall Street Zen raised Canadian Natural Resources from a "hold" rating to a "buy" rating in a report on Saturday, August 15th. Zacks Research cut Canadian Natural Resources from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, August 19th. Finally, Raymond James Financial raised Canadian Natural Resources from a "market perform" rating to an "outperform" rating in a report on Thursday, May 7th. Seven research analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $57.00.

Canadian Natural Resources Stock Performance

Shares of NYSE CNQ opened at $49.07 on Monday. The stock has a market cap of $101.20 billion, a PE ratio of 12.12 and a beta of 0.46. Canadian Natural Resources Limited has a 1 year low of $29.68 and a 1 year high of $51.47. The firm has a fifty day moving average price of $44.89 and a 200-day moving average price of $45.48. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.00 and a quick ratio of 0.75.

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

Canadian Natural Resources Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, October 2nd. Stockholders of record on Friday, September 11th will be given a dividend of $0.625 per share. This represents a $2.50 dividend on an annualized basis and a dividend yield of 5.1%. The ex-dividend date is Friday, September 11th. Canadian Natural Resources's dividend payout ratio is currently 44.69%.

Canadian Natural Resources Company Profile

Canadian Natural Resources Limited NYSE: CNQ is a Calgary-based independent oil and natural gas exploration and production company. Established in the early 1970s and publicly listed in Canada and the United States, the company is principally engaged in the exploration, development, production, and marketing of crude oil, natural gas and natural gas liquids. Its asset base spans conventional and unconventional reservoirs and includes oil sands mining and in-situ thermal projects, midstream processing and upgrading capacity, and related field operations.

The company's operations are concentrated in Western Canada, where it develops heavy crude, bitumen from oil sands and conventional light crude and natural gas resources.

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