Connor Clark & Lunn Investment Management Ltd. Trims Holdings in Canadian Natural Resources Limited $CNQ

Connor Clark & Lunn Investment Management Ltd. reduced its holdings in shares of Canadian Natural Resources Limited (NYSE:CNQ) (TSE:CNQ) by 19.6% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 8,630,399 shares of the oil and gas producer’s stock after selling 2,107,967 shares during the period. Canadian Natural Resources accounts for about 1.0% of Connor Clark & Lunn Investment Management Ltd.’s investment portfolio, making the stock its 21st largest holding. Connor Clark & Lunn Investment Management Ltd. owned about 0.41% of Canadian Natural Resources worth $271,429,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of CNQ. Stratos Wealth Partners LTD. purchased a new position in shares of Canadian Natural Resources during the first quarter valued at approximately $249,000. Genus Capital Management Inc. boosted its holdings in Canadian Natural Resources by 120.9% in the first quarter. Genus Capital Management Inc. now owns 31,616 shares of the oil and gas producer’s stock worth $973,000 after acquiring an additional 182,912 shares in the last quarter. Bleakley Financial Group LLC grew its stake in shares of Canadian Natural Resources by 32.0% in the first quarter. Bleakley Financial Group LLC now owns 31,967 shares of the oil and gas producer’s stock worth $985,000 after acquiring an additional 7,743 shares during the last quarter. Sigma Planning Corp bought a new position in shares of Canadian Natural Resources during the first quarter valued at $287,000. Finally, Hohimer Wealth Management LLC purchased a new position in shares of Canadian Natural Resources in the 1st quarter worth about $1,534,000. Institutional investors own 74.03% of the company’s stock.

Canadian Natural Resources Stock Performance

Shares of CNQ opened at $31.61 on Friday. The company has a debt-to-equity ratio of 0.38, a current ratio of 0.85 and a quick ratio of 0.54. Canadian Natural Resources Limited has a one year low of $24.65 and a one year high of $34.97. The firm has a market capitalization of $65.92 billion, a P/E ratio of 11.21 and a beta of 0.96. The business has a fifty day moving average of $31.61 and a 200 day moving average of $31.26.

Canadian Natural Resources (NYSE:CNQ) (TSE:CNQ) last posted its earnings results on Thursday, November 6th. The oil and gas producer reported $0.62 earnings per share 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 return on equity of 19.67% and a net margin of 19.00%.During the same quarter in the prior year, the company earned $0.97 earnings per share. As a group, sell-side analysts anticipate that Canadian Natural Resources Limited will post 2.45 EPS for the current year.

Canadian Natural Resources Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 6th. Stockholders of record on Friday, December 12th will be paid a $0.5875 dividend. This is a boost from Canadian Natural Resources’s previous quarterly dividend of $0.43. The ex-dividend date is Friday, December 12th. This represents a $2.35 annualized dividend and a dividend yield of 7.4%. Canadian Natural Resources’s dividend payout ratio (DPR) is currently 75.66%.

Analysts Set New Price Targets

Several brokerages recently commented on CNQ. Royal Bank Of Canada reissued an “outperform” rating and set a $62.00 price objective on shares of Canadian Natural Resources in a research report on Wednesday, September 24th. National Bankshares reiterated a “sector perform” rating on shares of Canadian Natural Resources in a research note on Thursday, July 17th. TD Securities reissued a “buy” rating on shares of Canadian Natural Resources in a research report on Tuesday, September 30th. Weiss Ratings restated a “hold (c)” rating on shares of Canadian Natural Resources in a report on Wednesday, October 8th. Finally, Zacks Research upgraded Canadian Natural Resources from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, August 26th. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat, Canadian Natural Resources has a consensus rating of “Moderate Buy” and an average 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).