Boston Partners Sells 1,505,414 Shares of Canadian Natural Resources Limited (NYSE:CNQ)

Boston Partners reduced its holdings in shares of Canadian Natural Resources Limited (NYSE:CNQ) (TSE:CNQ) by 16.9% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,411,452 shares of the oil and gas producer’s stock after selling 1,505,414 shares during the period. Boston Partners’ holdings in Canadian Natural Resources were worth $227,748,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in CNQ. Goldman Sachs Group Inc. increased its position in Canadian Natural Resources by 240.8% during the 1st quarter. Goldman Sachs Group Inc. now owns 22,776,594 shares of the oil and gas producer’s stock valued at $701,519,000 after buying an additional 16,094,168 shares in the last quarter. Bank of Nova Scotia increased its position in Canadian Natural Resources by 86.6% during the 1st 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 buying an additional 11,259,267 shares in the last quarter. Canoe Financial LP increased its position in Canadian Natural Resources by 403.7% during the 1st quarter. Canoe Financial LP now owns 4,738,577 shares of the oil and gas producer’s stock valued at $145,828,000 after buying an additional 3,797,846 shares in the last quarter. T. Rowe Price Investment Management Inc. increased its position in Canadian Natural Resources by 7.3% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 34,052,775 shares of the oil and gas producer’s stock valued at $1,051,210,000 after buying an additional 2,312,437 shares in the last quarter. Finally, Nuveen LLC acquired a new position in Canadian Natural Resources during the 1st quarter valued at about $68,342,000. 74.03% of the stock is owned by institutional investors and hedge funds.

Canadian Natural Resources Stock Up 0.1%

Shares of CNQ stock opened at $29.93 on Thursday. The stock’s 50-day simple moving average is $31.73 and its 200-day simple moving average is $30.35. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.54 and a current ratio of 0.85. The firm has a market capitalization of $62.53 billion, a PE ratio of 10.61 and a beta of 1.05. Canadian Natural Resources Limited has a fifty-two week low of $24.65 and a fifty-two week high of $37.91.

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

Canadian Natural Resources Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, October 3rd. Stockholders of record on Friday, September 19th will be paid a $0.4269 dividend. The ex-dividend date is Friday, September 19th. 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%. Canadian Natural Resources’s dividend payout ratio (DPR) is currently 60.64%.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on CNQ shares. Royal Bank Of Canada reduced their target price on Canadian Natural Resources from $64.00 to $62.00 and set an “outperform” rating on the stock in a research report on Friday, August 8th. Raymond James Financial reaffirmed an “outperform” rating on shares of Canadian Natural Resources in a research report on Friday, August 8th. Scotiabank reissued an “outperform” rating on shares of Canadian Natural Resources in a report on Friday, July 11th. Finally, National Bankshares reissued a “sector perform” rating on shares of Canadian Natural Resources in a report on Thursday, July 17th. Three equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $62.00.

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).