Millennium Management LLC decreased its holdings in Canadian Natural Resources Ltd (NYSE:CNQ) (TSE:CNQ) by 70.2% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 909,085 shares of the oil and gas producer’s stock after selling 2,144,567 shares during the period. Millennium Management LLC owned about 0.08% of Canadian Natural Resources worth $24,208,000 as of its most recent SEC filing.
Other hedge funds have also bought and sold shares of the company. Price T Rowe Associates Inc. MD lifted its position in Canadian Natural Resources by 10.1% during the second quarter. Price T Rowe Associates Inc. MD now owns 7,292,920 shares of the oil and gas producer’s stock valued at $196,690,000 after purchasing an additional 666,731 shares during the period. National Pension Service purchased a new stake in Canadian Natural Resources during the 2nd quarter valued at $55,410,000. D. E. Shaw & Co. Inc. raised its stake in Canadian Natural Resources by 711.4% during the 2nd quarter. D. E. Shaw & Co. Inc. now owns 1,400,266 shares of the oil and gas producer’s stock valued at $37,764,000 after buying an additional 1,227,685 shares during the last quarter. Wells Fargo & Company MN raised its stake in Canadian Natural Resources by 92.6% during the 2nd quarter. Wells Fargo & Company MN now owns 271,925 shares of the oil and gas producer’s stock valued at $7,334,000 after buying an additional 130,737 shares during the last quarter. Finally, Caymus Capital Partners L.P. bought a new position in shares of Canadian Natural Resources during the 2nd quarter valued at $12,869,000. Hedge funds and other institutional investors own 66.61% of the company’s stock.
A number of equities analysts have recently issued reports on the company. Goldman Sachs Group set a $29.00 price target on Canadian Natural Resources and gave the stock a “hold” rating in a research note on Friday, September 27th. National Bank Financial downgraded Canadian Natural Resources from an “outperform” rating to a “sector perform” rating in a report on Wednesday, October 2nd. Wells Fargo & Co cut Canadian Natural Resources from a “market perform” rating to an “underperform” rating in a research report on Friday, September 6th. Tudor Pickering cut Canadian Natural Resources from a “buy” rating to a “hold” rating in a research report on Tuesday, October 8th. Finally, CIBC upped their price target on shares of Canadian Natural Resources from $46.00 to $48.00 and gave the company a “buy” rating in a research report on Tuesday, November 12th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and fourteen have issued a buy rating to the stock. The company has a consensus rating of “Buy” and an average target price of $39.48.
Shares of Canadian Natural Resources stock opened at $27.63 on Tuesday. The stock has a market cap of $33.13 billion, a P/E ratio of 12.85, a P/E/G ratio of 1.72 and a beta of 1.21. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.45 and a current ratio of 0.60. The stock’s fifty day moving average is $26.86 and its 200 day moving average is $26.05. Canadian Natural Resources Ltd has a one year low of $21.85 and a one year high of $31.77.
Canadian Natural Resources (NYSE:CNQ) (TSE:CNQ) last released its quarterly earnings results on Thursday, November 7th. The oil and gas producer reported $1.04 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.60 by $0.44. The business had revenue of $4.67 billion during the quarter, compared to analyst estimates of $4.46 billion. Canadian Natural Resources had a return on equity of 7.87% and a net margin of 18.37%. During the same quarter in the previous year, the company posted $1.11 earnings per share. Analysts predict that Canadian Natural Resources Ltd will post 2.51 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 1st. Stockholders of record on Wednesday, December 11th will be given a dividend of $0.285 per share. This is a boost from Canadian Natural Resources’s previous quarterly dividend of $0.28. This represents a $1.14 dividend on an annualized basis and a dividend yield of 4.13%. The ex-dividend date of this dividend is Tuesday, December 10th. Canadian Natural Resources’s payout ratio is presently 52.56%.
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 synthetic crude oil (SCO), light and medium crude oil, bitumen (thermal oil), primary heavy crude oil, and Pelican Lake heavy crude oil. 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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