Fmr LLC Sells 625,150 Shares of Canadian Natural Resources Limited (NYSE:CNQ)

Fmr LLC trimmed its holdings in shares of Canadian Natural Resources Limited (NYSE:CNQ) (TSE:CNQ) by 0.7% in the third quarter, Holdings Channel.com reports. The fund owned 85,177,386 shares of the oil and gas producer’s stock after selling 625,150 shares during the quarter. Fmr LLC’s holdings in Canadian Natural Resources were worth $2,828,465,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Park Place Capital Corp raised its position in Canadian Natural Resources by 100.0% in the second quarter. Park Place Capital Corp now owns 716 shares of the oil and gas producer’s stock worth $25,000 after purchasing an additional 358 shares in the last quarter. RFP Financial Group LLC raised its holdings in shares of Canadian Natural Resources by 98.3% in the 2nd quarter. RFP Financial Group LLC now owns 710 shares of the oil and gas producer’s stock worth $25,000 after buying an additional 352 shares in the last quarter. Sugarloaf Wealth Management LLC raised its holdings in shares of Canadian Natural Resources by 100.0% in the 2nd quarter. Sugarloaf Wealth Management LLC now owns 728 shares of the oil and gas producer’s stock worth $26,000 after buying an additional 364 shares in the last quarter. Bruce G. Allen Investments LLC lifted its position in shares of Canadian Natural Resources by 91.6% during the 2nd quarter. Bruce G. Allen Investments LLC now owns 868 shares of the oil and gas producer’s stock worth $31,000 after buying an additional 415 shares during the period. Finally, GAMMA Investing LLC boosted its stake in Canadian Natural Resources by 104.7% in the 2nd quarter. GAMMA Investing LLC now owns 874 shares of the oil and gas producer’s stock valued at $31,000 after buying an additional 447 shares in the last quarter. 74.03% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on CNQ. Desjardins upgraded Canadian Natural Resources from a “hold” rating to a “moderate buy” rating in a research note on Tuesday, October 8th. StockNews.com cut shares of Canadian Natural Resources from a “buy” rating to a “hold” rating in a research report on Friday, August 23rd. Five research analysts have rated the stock with a hold rating, Based on data from MarketBeat, Canadian Natural Resources presently has a consensus rating of “Hold” and a consensus price target of $51.00.

Canadian Natural Resources Trading Down 2.3 %

Shares of CNQ opened at $34.05 on Tuesday. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.53 and a current ratio of 0.84. The company has a market cap of $71.85 billion, a price-to-earnings ratio of 13.22 and a beta of 1.50. The stock has a fifty day moving average price of $34.62 and a two-hundred day moving average price of $35.30. Canadian Natural Resources Limited has a 52-week low of $29.45 and a 52-week high of $41.29.

Canadian Natural Resources (NYSE:CNQ) (TSE:CNQ) last released its quarterly earnings results on Thursday, October 31st. The oil and gas producer reported $0.97 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.67 by $0.30. Canadian Natural Resources had a return on equity of 20.07% and a net margin of 18.45%. The business had revenue of $7.62 billion during the quarter, compared to analysts’ expectations of $6.40 billion. During the same period in the previous year, the business posted $0.96 earnings per share. Analysts predict that Canadian Natural Resources Limited will post 2.47 EPS for the current fiscal year.

Canadian Natural Resources Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 3rd. Investors of record on Friday, December 13th will be given a $0.388 dividend. This represents a $1.55 annualized dividend and a yield of 4.56%. The ex-dividend date is Friday, December 13th. This is a boost from Canadian Natural Resources’s previous quarterly dividend of $0.38. Canadian Natural Resources’s payout ratio is 60.58%.

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).