Canadian Natural Resources Limited (CNQ) Holdings Cut by Bank of Nova Scotia

Bank of Nova Scotia lessened its stake in shares of Canadian Natural Resources Limited (NYSE:CNQ) (TSE:CNQ) by 0.4% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 3,209,254 shares of the oil and gas producer’s stock after selling 13,577 shares during the period. Bank of Nova Scotia owned about 0.26% of Canadian Natural Resources Limited worth $92,679,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently bought and sold shares of CNQ. BNP Paribas Arbitrage SA raised its holdings in Canadian Natural Resources Limited by 89.4% during the 1st quarter. BNP Paribas Arbitrage SA now owns 7,352 shares of the oil and gas producer’s stock worth $241,000 after buying an additional 3,470 shares during the period. Oxford Asset Management acquired a new stake in Canadian Natural Resources Limited during the 1st quarter worth about $212,000. Van ECK Associates Corp raised its holdings in Canadian Natural Resources Limited by 20.9% during the 1st quarter. Van ECK Associates Corp now owns 12,492 shares of the oil and gas producer’s stock worth $410,000 after buying an additional 2,162 shares during the period. Loomis Sayles & Co. L P acquired a new stake in Canadian Natural Resources Limited during the 1st quarter worth about $845,000. Finally, RMB Capital Management LLC acquired a new stake in Canadian Natural Resources Limited during the 1st quarter worth about $215,000. Hedge funds and other institutional investors own 58.56% of the company’s stock.

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Canadian Natural Resources Limited (NYSE CNQ) traded up 1.67% during trading on Tuesday, reaching $33.54. The company’s stock had a trading volume of 565,078 shares. The firm has a market cap of $40.76 billion, a P/E ratio of 29.29 and a beta of 1.47. Canadian Natural Resources Limited has a 52 week low of $27.52 and a 52 week high of $35.28. The stock’s 50 day moving average is $32.53 and its 200-day moving average is $31.16.

The firm also recently declared a quarterly dividend, which was paid on Sunday, October 1st. Stockholders of record on Friday, September 15th were given a dividend of $0.2212 per share. The ex-dividend date was Thursday, September 14th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 2.68%. This is a positive change from Canadian Natural Resources Limited’s previous quarterly dividend of $0.20. Canadian Natural Resources Limited’s dividend payout ratio (DPR) is currently 86.28%.

Several analysts have issued reports on CNQ shares. Morgan Stanley upgraded Canadian Natural Resources Limited from an “equal weight” rating to an “overweight” rating and set a $46.00 price objective on the stock in a report on Wednesday, July 19th. Canaccord Genuity restated a “buy” rating and set a $47.00 price objective on shares of Canadian Natural Resources Limited in a report on Tuesday, September 5th. Citigroup Inc. downgraded Canadian Natural Resources Limited from a “buy” rating to a “neutral” rating and cut their price objective for the stock from $40.00 to $33.00 in a report on Friday, July 21st. They noted that the move was a valuation call. Zacks Investment Research downgraded Canadian Natural Resources Limited from a “strong-buy” rating to a “hold” rating in a report on Wednesday, July 19th. Finally, ValuEngine upgraded Canadian Natural Resources Limited from a “sell” rating to a “hold” rating in a report on Wednesday, July 12th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company. The stock currently has an average rating of “Buy” and a consensus price target of $46.45.

About Canadian Natural Resources Limited

Canadian Natural Resources Limited is an independent crude oil and natural gas exploration, development and production company. The Company’s segments include Exploration and Production, Oil Sands Mining and Upgrading, and Midstream. The Exploration and Production segment includes exploration, development, production and marketing of crude oil, natural gas liquids (NGLs) and natural gas.

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Institutional Ownership by Quarter for Canadian Natural Resources Limited (NYSE:CNQ)

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