Allianz Asset Management GmbH Sells 138,564 Shares of Canadian Natural Resources Limited $CNQ

Allianz Asset Management GmbH decreased its position in shares of Canadian Natural Resources Limited (NYSE:CNQ) (TSE:CNQ) by 16.5% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 702,510 shares of the oil and gas producer’s stock after selling 138,564 shares during the period. Allianz Asset Management GmbH’s holdings in Canadian Natural Resources were worth $22,035,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of CNQ. Goldman Sachs Group Inc. increased its holdings in shares of Canadian Natural Resources by 240.8% during the first quarter. Goldman Sachs Group Inc. now owns 22,776,594 shares of the oil and gas producer’s stock worth $701,519,000 after buying an additional 16,094,168 shares in the last quarter. Bank of Nova Scotia increased its holdings in shares of Canadian Natural Resources by 86.6% in the first quarter. Bank of Nova Scotia now owns 24,262,707 shares of the oil and gas producer’s stock valued at $746,675,000 after purchasing an additional 11,259,267 shares in the last quarter. T. Rowe Price Investment Management Inc. increased its holdings in shares of Canadian Natural Resources by 29.1% in the first quarter. T. Rowe Price Investment Management Inc. now owns 43,968,120 shares of the oil and gas producer’s stock valued at $1,354,219,000 after purchasing an additional 9,915,345 shares in the last quarter. Canada Pension Plan Investment Board increased its holdings in shares of Canadian Natural Resources by 13.0% in the first quarter. Canada Pension Plan Investment Board now owns 41,769,153 shares of the oil and gas producer’s stock valued at $1,285,464,000 after purchasing an additional 4,805,451 shares in the last quarter. Finally, Nuveen LLC acquired a new stake in shares of Canadian Natural Resources in the first quarter valued at approximately $68,342,000. Institutional investors and hedge funds own 74.03% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently weighed in on the stock. Scotiabank reissued an “outperform” rating on shares of Canadian Natural Resources in a report on Thursday, October 9th. Zacks Research raised shares of Canadian Natural Resources from a “hold” rating to a “strong-buy” rating in a report on Tuesday, August 26th. TD Securities reaffirmed a “buy” rating on shares of Canadian Natural Resources in a report on Tuesday, September 30th. National Bankshares reaffirmed a “sector perform” rating on shares of Canadian Natural Resources in a report on Thursday, July 17th. Finally, Wells Fargo & Company raised shares of Canadian Natural Resources to a “hold” rating in a report on Thursday. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat, Canadian Natural Resources currently has an average rating of “Moderate Buy” and a consensus target price of $62.00.

Canadian Natural Resources Price Performance

CNQ opened at $30.10 on Monday. The company has a fifty day moving average price of $31.32 and a two-hundred day moving average price of $30.85. The firm has a market capitalization of $62.82 billion, a PE ratio of 10.67 and a beta of 0.97. Canadian Natural Resources Limited has a 52 week low of $24.65 and a 52 week high of $35.93. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.54 and a current ratio of 0.85.

Canadian Natural Resources (NYSE:CNQ) (TSE:CNQ) last announced its quarterly earnings results on Thursday, August 7th. The oil and gas producer reported $0.51 earnings per share for the quarter, topping analysts’ consensus estimates of $0.44 by $0.07. The company had revenue of $6.39 billion for the quarter, compared to analysts’ expectations of $8.97 billion. Canadian Natural Resources had a net margin of 19.00% and a return on equity of 19.67%. During the same period last year, the firm posted $0.88 earnings per share. As a group, analysts anticipate that Canadian Natural Resources Limited will post 2.45 earnings per share for the current year.

Canadian Natural Resources Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, October 3rd. Stockholders of record on Friday, September 19th were given a dividend of $0.4269 per share. This is a positive change from Canadian Natural Resources’s previous quarterly dividend of $0.42. This represents a $1.71 dividend on an annualized basis and a dividend yield of 5.7%. The ex-dividend date of this dividend was Friday, September 19th. Canadian Natural Resources’s payout ratio is 60.64%.

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).