Two Sigma Investments LP Sells 831,586 Shares of Canadian Natural Resources Limited (NYSE:CNQ)

Two Sigma Investments LP trimmed its stake in Canadian Natural Resources Limited (NYSE:CNQ - Free Report) TSE: CNQ by 25.0% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,498,394 shares of the oil and gas producer's stock after selling 831,586 shares during the period. Two Sigma Investments LP owned 0.12% of Canadian Natural Resources worth $77,125,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in the stock. FMR LLC increased its position in Canadian Natural Resources by 8.7% during the 4th quarter. FMR LLC now owns 92,550,104 shares of the oil and gas producer's stock valued at $2,857,337,000 after buying an additional 7,372,718 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. increased its holdings in shares of Canadian Natural Resources by 31.6% during the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 13,433,797 shares of the oil and gas producer's stock valued at $414,223,000 after acquiring an additional 3,224,548 shares in the last quarter. Geode Capital Management LLC raised its position in shares of Canadian Natural Resources by 30.1% in the 4th quarter. Geode Capital Management LLC now owns 12,708,163 shares of the oil and gas producer's stock valued at $400,222,000 after purchasing an additional 2,939,866 shares during the last quarter. T. Rowe Price Investment Management Inc. boosted its stake in Canadian Natural Resources by 7.3% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 34,052,775 shares of the oil and gas producer's stock worth $1,051,210,000 after purchasing an additional 2,312,437 shares in the last quarter. Finally, Bank of New York Mellon Corp grew its position in Canadian Natural Resources by 87.0% during the 4th quarter. Bank of New York Mellon Corp now owns 4,437,771 shares of the oil and gas producer's stock worth $136,994,000 after purchasing an additional 2,064,492 shares during the last quarter. 74.03% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on CNQ shares. Tudor Pickering cut shares of Canadian Natural Resources from a "strong-buy" rating to a "hold" rating in a report on Monday, February 10th. Royal Bank of Canada restated an "outperform" rating and issued a $63.00 target price on shares of Canadian Natural Resources in a research note on Thursday, March 27th. Raymond James upgraded Canadian Natural Resources from a "market perform" rating to an "outperform" rating in a research note on Wednesday, April 9th. Scotiabank upgraded Canadian Natural Resources from a "sector perform" rating to a "sector outperform" rating in a research note on Wednesday, March 19th. Finally, Evercore ISI raised Canadian Natural Resources from an "in-line" rating to an "outperform" rating in a report on Friday, March 7th. Three equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $63.00.

Canadian Natural Resources Stock Down 0.5%

Shares of CNQ opened at $30.55 on Tuesday. The company has a market capitalization of $63.99 billion, a price-to-earnings ratio of 11.86 and a beta of 1.04. Canadian Natural Resources Limited has a 52 week low of $24.65 and a 52 week high of $38.86. The stock's 50-day moving average price is $29.33 and its 200-day moving average price is $30.65. The company has a quick ratio of 0.53, a current ratio of 0.84 and a debt-to-equity ratio of 0.21.

Canadian Natural Resources (NYSE:CNQ - Get Free Report) TSE: CNQ last issued its quarterly earnings data on Thursday, May 8th. The oil and gas producer reported $0.81 EPS for the quarter, topping analysts' consensus estimates of $0.73 by $0.08. The business had revenue of $6.96 billion for the quarter, compared to analysts' expectations of $10.14 billion. Canadian Natural Resources had a net margin of 18.45% and a return on equity of 20.07%. During the same quarter last year, the company earned $1.37 EPS. On average, sell-side analysts predict that Canadian Natural Resources Limited will post 2.45 EPS for the current year.

Canadian Natural Resources Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, July 3rd. Investors of record on Friday, June 13th will be given a dividend of $0.4227 per share. This represents a $1.69 annualized dividend and a yield of 5.53%. The ex-dividend date is Friday, June 13th. This is a positive change from Canadian Natural Resources's previous quarterly dividend of $0.41. Canadian Natural Resources's dividend payout ratio (DPR) is currently 63.92%.

Canadian Natural Resources Profile

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).

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