Connor Clark & Lunn Investment Management Ltd. Sells 1,896,860 Shares of Canadian Natural Resources Limited (NYSE:CNQ)

Connor Clark & Lunn Investment Management Ltd. lowered its position in Canadian Natural Resources Limited (NYSE:CNQ) (TSE:CNQ) by 15.7% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 10,209,249 shares of the oil and gas producer’s stock after selling 1,896,860 shares during the quarter. Canadian Natural Resources accounts for approximately 1.6% of Connor Clark & Lunn Investment Management Ltd.’s investment portfolio, making the stock its 13th largest position. Connor Clark & Lunn Investment Management Ltd.’s holdings in Canadian Natural Resources were worth $338,971,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. RFP Financial Group LLC increased its position in 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 valued at $25,000 after acquiring an additional 352 shares during the period. Park Place Capital Corp increased its holdings 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 valued at $25,000 after purchasing an additional 358 shares during the period. Sugarloaf Wealth Management LLC raised its position in Canadian Natural Resources by 100.0% during the 2nd quarter. Sugarloaf Wealth Management LLC now owns 728 shares of the oil and gas producer’s stock worth $26,000 after purchasing an additional 364 shares during the last quarter. Bruce G. Allen Investments LLC lifted its holdings in 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 grew its position in shares of 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 during the last quarter. Institutional investors own 74.03% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently commented on the company. Desjardins raised Canadian Natural Resources from a “hold” rating to a “moderate buy” rating in a research note on Tuesday, October 8th. StockNews.com lowered shares of Canadian Natural Resources from a “buy” rating to a “hold” rating in a report on Friday, August 23rd. Five analysts have rated the stock with a hold rating, According to MarketBeat.com, Canadian Natural Resources presently has an average rating of “Hold” and a consensus target price of $51.00.

Canadian Natural Resources Stock Performance

Shares of Canadian Natural Resources stock opened at $33.67 on Wednesday. The business has a 50-day moving average price of $34.46 and a two-hundred day moving average price of $35.41. Canadian Natural Resources Limited has a 1-year low of $29.45 and a 1-year high of $41.29. The company has a current ratio of 0.84, a quick ratio of 0.53 and a debt-to-equity ratio of 0.21. The company has a market cap of $71.06 billion, a P/E ratio of 13.10 and a beta of 1.50.

Canadian Natural Resources (NYSE:CNQ) (TSE:CNQ) last released its earnings results on Thursday, October 31st. The oil and gas producer reported $0.97 EPS for the quarter, topping the consensus estimate 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 quarter last year, the firm posted $0.96 earnings per share. As a group, analysts anticipate that Canadian Natural Resources Limited will post 2.44 EPS for the current year.

Canadian Natural Resources Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 3rd. Stockholders of record on Friday, December 13th will be paid a $0.388 dividend. The ex-dividend date is Friday, December 13th. This represents a $1.55 annualized dividend and a dividend yield of 4.61%. This is a positive change from Canadian Natural Resources’s previous quarterly dividend of $0.38. Canadian Natural Resources’s payout ratio is currently 64.59%.

Canadian Natural Resources Company 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).