Brandywine Global Investment Management LLC Sells 19,123 Shares of Canadian Natural Resources Limited $CNQ

Brandywine Global Investment Management LLC cut its holdings in Canadian Natural Resources Limited (NYSE:CNQ) (TSE:CNQ) by 0.8% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 2,285,276 shares of the oil and gas producer’s stock after selling 19,123 shares during the quarter. Brandywine Global Investment Management LLC’s holdings in Canadian Natural Resources were worth $77,407,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of CNQ. Envestnet Asset Management Inc. grew its holdings in shares of Canadian Natural Resources by 2.8% in the third quarter. Envestnet Asset Management Inc. now owns 1,616,219 shares of the oil and gas producer’s stock valued at $51,654,000 after purchasing an additional 43,356 shares during the period. TD Waterhouse Canada Inc. raised its stake in Canadian Natural Resources by 4.9% during the fourth quarter. TD Waterhouse Canada Inc. now owns 6,758,445 shares of the oil and gas producer’s stock worth $228,729,000 after purchasing an additional 315,460 shares during the period. SCP Investment LP acquired a new position in Canadian Natural Resources in the 3rd quarter valued at about $1,144,000. Marshall Financial Group LLC acquired a new position in Canadian Natural Resources in the 4th quarter valued at about $869,000. Finally, Numerai GP LLC grew its stake in shares of Canadian Natural Resources by 102.5% in the 3rd quarter. Numerai GP LLC now owns 77,164 shares of the oil and gas producer’s stock valued at $2,466,000 after buying an additional 39,049 shares during the period. Hedge funds and other institutional investors own 74.03% of the company’s stock.

Canadian Natural Resources Stock Performance

Shares of CNQ stock opened at $45.74 on Monday. The firm’s 50 day moving average price is $46.78 and its 200-day moving average price is $41.01. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.68 and a current ratio of 0.98. Canadian Natural Resources Limited has a one year low of $29.30 and a one year high of $51.34. The firm has a market cap of $95.20 billion, a P/E ratio of 13.65 and a beta of 0.45.

Canadian Natural Resources (NYSE:CNQ) (TSE:CNQ) last posted its quarterly earnings data on Thursday, May 7th. The oil and gas producer reported $0.85 earnings per share for the quarter, topping analysts’ consensus estimates of $0.74 by $0.11. Canadian Natural Resources had a net margin of 22.04% and a return on equity of 17.49%. The firm had revenue of $7.72 billion during the quarter, compared to analysts’ expectations of $7.57 billion. During the same quarter last year, the company posted $1.16 EPS. As a group, equities research analysts predict that Canadian Natural Resources Limited will post 4.2 EPS for the current year.

Canadian Natural Resources Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 7th. Stockholders of record on Tuesday, June 23rd will be paid a $0.625 dividend. The ex-dividend date of this dividend is Tuesday, June 23rd. This represents a $2.50 dividend on an annualized basis and a dividend yield of 5.5%. Canadian Natural Resources’s payout ratio is presently 54.63%.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the stock. Zacks Research upgraded shares of Canadian Natural Resources from a “hold” rating to a “strong-buy” rating in a report on Tuesday, May 5th. Weiss Ratings lowered Canadian Natural Resources from a “buy (b)” rating to a “buy (b-)” rating in a research report on Monday, May 11th. The Goldman Sachs Group raised their target price on Canadian Natural Resources from $37.00 to $49.00 and gave the stock a “buy” rating in a research note on Thursday, March 12th. ATB Cormark Capital Markets downgraded Canadian Natural Resources from a “strong-buy” rating to a “moderate buy” rating in a research report on Thursday, March 5th. Finally, Royal Bank Of Canada upped their price target on Canadian Natural Resources from $61.00 to $65.00 and gave the company an “outperform” rating in a research note on Friday, March 6th. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $57.00.

Canadian Natural Resources 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.