Aviva PLC lowered its position in shares of Canadian Natural Resources Ltd (NYSE:CNQ) (TSE:CNQ) by 3.6% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 584,371 shares of the oil and gas producer’s stock after selling 21,515 shares during the period. Aviva PLC’s holdings in Canadian Natural Resources were worth $18,998,000 at the end of the most recent quarter.
Other hedge funds have also recently modified their holdings of the company. Legacy Financial Advisors Inc. acquired a new position in shares of Canadian Natural Resources during the third quarter worth $148,000. Livingston Group Asset Management CO operating as Southport Capital Management acquired a new position in shares of Canadian Natural Resources during the third quarter worth $153,000. Cubist Systematic Strategies LLC grew its stake in shares of Canadian Natural Resources by 50.0% during the second quarter. Cubist Systematic Strategies LLC now owns 5,400 shares of the oil and gas producer’s stock worth $195,000 after purchasing an additional 1,800 shares in the last quarter. Checchi Capital Advisers LLC acquired a new position in shares of Canadian Natural Resources during the third quarter worth $212,000. Finally, Signaturefd LLC grew its stake in shares of Canadian Natural Resources by 49.7% during the second quarter. Signaturefd LLC now owns 6,999 shares of the oil and gas producer’s stock worth $252,000 after purchasing an additional 2,323 shares in the last quarter. Hedge funds and other institutional investors own 66.40% of the company’s stock.
NYSE CNQ opened at $25.20 on Friday. The company has a debt-to-equity ratio of 0.58, a current ratio of 0.92 and a quick ratio of 0.69. Canadian Natural Resources Ltd has a 1 year low of $24.02 and a 1 year high of $38.20. The firm has a market capitalization of $29.79 billion, a price-to-earnings ratio of 30.36, a P/E/G ratio of 1.50 and a beta of 1.37.
Canadian Natural Resources (NYSE:CNQ) (TSE:CNQ) last released its quarterly earnings data on Thursday, November 1st. The oil and gas producer reported $1.11 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.66 by $0.45. Canadian Natural Resources had a net margin of 15.94% and a return on equity of 12.33%. The company had revenue of $4.51 billion during the quarter, compared to the consensus estimate of $4.71 billion. During the same quarter in the prior year, the firm posted $0.19 earnings per share. On average, sell-side analysts anticipate that Canadian Natural Resources Ltd will post 2.75 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 1st. Shareholders of record on Monday, December 10th will be paid a $0.255 dividend. The ex-dividend date of this dividend is Friday, December 7th. This represents a $1.02 annualized dividend and a yield of 4.05%. Canadian Natural Resources’s dividend payout ratio is presently 124.10%.
CNQ has been the subject of a number of analyst reports. ValuEngine downgraded shares of Canadian Natural Resources from a “hold” rating to a “sell” rating in a research note on Thursday, August 2nd. Zacks Investment Research downgraded shares of Canadian Natural Resources from a “buy” rating to a “hold” rating in a research note on Tuesday, August 28th. Royal Bank of Canada downgraded shares of Canadian Natural Resources from a “top pick” rating to an “outperform” rating and set a $38.40 target price for the company. in a research note on Thursday, September 20th. They noted that the move was a valuation call. CIBC initiated coverage on shares of Canadian Natural Resources in a research note on Friday, October 5th. They set a “sector outperform” rating for the company. Finally, Macquarie downgraded shares of Canadian Natural Resources from an “outperform” rating to a “neutral” rating in a research note on Tuesday, October 9th. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and seven have assigned a buy rating to the stock. Canadian Natural Resources currently has a consensus rating of “Hold” and an average target price of $46.08.
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Canadian Natural Resources Company Profile
Canadian Natural Resources Limited explores for, develops, produces, and markets 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, and synthetic crude oil (SCO). Its midstream assets include two crude oil pipeline systems; and a 50% working interest in an 84-megawatt cogeneration plant at Primrose.
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