Quantbot Technologies LP Sells 54,355 Shares of Canadian Natural Resources Limited $CNQ

Quantbot Technologies LP lessened its position in shares of Canadian Natural Resources Limited (NYSE:CNQ) (TSE:CNQ) by 33.6% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 107,358 shares of the oil and gas producer’s stock after selling 54,355 shares during the quarter. Quantbot Technologies LP’s holdings in Canadian Natural Resources were worth $3,371,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the company. Brandywine Global Investment Management LLC increased its position in Canadian Natural Resources by 27.5% in the first quarter. Brandywine Global Investment Management LLC now owns 2,183,598 shares of the oil and gas producer’s stock worth $67,201,000 after buying an additional 470,391 shares in the last quarter. Sagespring Wealth Partners LLC purchased a new position in shares of Canadian Natural Resources during the 2nd quarter valued at about $361,000. Sei Investments Co. grew its stake in shares of Canadian Natural Resources by 41.9% during the 1st quarter. Sei Investments Co. now owns 49,307 shares of the oil and gas producer’s stock valued at $1,519,000 after acquiring an additional 14,561 shares during the period. Vanguard Group Inc. increased its holdings in Canadian Natural Resources by 3.4% in the 2nd quarter. Vanguard Group Inc. now owns 90,742,099 shares of the oil and gas producer’s stock worth $2,852,024,000 after acquiring an additional 3,003,542 shares in the last quarter. Finally, Journey Advisory Group LLC purchased a new stake in Canadian Natural Resources in the 2nd quarter worth approximately $2,458,000. Institutional investors own 74.03% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on CNQ. Desjardins downgraded shares of Canadian Natural Resources from a “buy” rating to a “hold” rating in a report on Monday, November 24th. TD Securities restated a “buy” rating on shares of Canadian Natural Resources in a research report on Tuesday, September 30th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Canadian Natural Resources in a report on Wednesday, October 8th. Royal Bank Of Canada reiterated an “outperform” rating and issued a $62.00 price target on shares of Canadian Natural Resources in a research note on Wednesday, September 24th. Finally, Raymond James Financial reissued an “outperform” rating on shares of Canadian Natural Resources in a report on Friday, August 8th. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat, Canadian Natural Resources currently has a consensus rating of “Moderate Buy” and an average target price of $62.00.

Canadian Natural Resources Price Performance

CNQ stock opened at $34.45 on Friday. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.53 and a current ratio of 0.86. The company’s fifty day moving average price is $32.25 and its 200-day moving average price is $31.72. Canadian Natural Resources Limited has a one year low of $24.65 and a one year high of $35.09. The company has a market capitalization of $71.76 billion, a PE ratio of 15.24 and a beta of 0.70.

Canadian Natural Resources (NYSE:CNQ) (TSE:CNQ) last announced its quarterly earnings results on Thursday, November 6th. The oil and gas producer reported $0.62 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.54 by $0.08. The company had revenue of $6.79 billion for the quarter, compared to the consensus estimate of $6.81 billion. Canadian Natural Resources had a net margin of 14.90% and a return on equity of 18.93%. During the same period in the previous year, the firm posted $0.97 EPS. On average, equities analysts anticipate that Canadian Natural Resources Limited will post 2.45 EPS for the current fiscal year.

Canadian Natural Resources Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, January 6th. Investors of record on Friday, December 12th will be given a $0.5875 dividend. This is an increase from Canadian Natural Resources’s previous quarterly dividend of $0.43. This represents a $2.35 dividend on an annualized basis and a dividend yield of 6.8%. The ex-dividend date is Friday, December 12th. Canadian Natural Resources’s dividend payout ratio (DPR) is presently 75.66%.

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).