Hsbc Holdings PLC Reduces Stock Position in Canadian Natural Resources Limited (NYSE:CNQ)

Hsbc Holdings PLC reduced its holdings in shares of Canadian Natural Resources Limited (NYSE:CNQ) (TSE:CNQ) by 98.1% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 11,431 shares of the oil and gas producer’s stock after selling 580,423 shares during the quarter. Hsbc Holdings PLC’s holdings in Canadian Natural Resources were worth $407,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. TD Asset Management Inc boosted its stake in Canadian Natural Resources by 96.2% during the 2nd quarter. TD Asset Management Inc now owns 42,518,833 shares of the oil and gas producer’s stock valued at $1,514,190,000 after acquiring an additional 20,843,193 shares during the last quarter. Yacktman Asset Management LP raised its stake in shares of Canadian Natural Resources by 95.9% in the 2nd quarter. Yacktman Asset Management LP now owns 29,456,746 shares of the oil and gas producer’s stock valued at $1,048,660,000 after purchasing an additional 14,418,835 shares in the last quarter. CIBC Asset Management Inc lifted its position in shares of Canadian Natural Resources by 93.6% during the second quarter. CIBC Asset Management Inc now owns 22,916,027 shares of the oil and gas producer’s stock worth $815,751,000 after purchasing an additional 11,077,189 shares during the last quarter. Capital International Investors grew its stake in Canadian Natural Resources by 103.3% in the fourth quarter. Capital International Investors now owns 9,819,333 shares of the oil and gas producer’s stock worth $643,348,000 after purchasing an additional 4,989,634 shares in the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in Canadian Natural Resources during the first quarter valued at approximately $305,258,000. Institutional investors and hedge funds own 74.03% of the company’s stock.

Canadian Natural Resources Trading Up 4.7 %

Shares of NYSE CNQ opened at $34.79 on Wednesday. The company has a market cap of $74.02 billion, a price-to-earnings ratio of 13.86 and a beta of 1.51. The stock’s 50 day simple moving average is $34.51 and its 200 day simple moving average is $36.29. The company has a current ratio of 0.88, a quick ratio of 0.59 and a debt-to-equity ratio of 0.24. Canadian Natural Resources Limited has a 12-month low of $29.45 and a 12-month high of $41.29.

Canadian Natural Resources (NYSE:CNQ) (TSE:CNQ) last announced its quarterly earnings results on Thursday, August 1st. The oil and gas producer reported $0.88 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.62 by $0.26. Canadian Natural Resources had a net margin of 18.05% and a return on equity of 22.09%. The company had revenue of $7.76 billion during the quarter, compared to the consensus estimate of $6.19 billion. During the same quarter in the previous year, the company posted $0.43 earnings per share. Equities research analysts expect that Canadian Natural Resources Limited will post 2.47 EPS for the current year.

Canadian Natural Resources Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 4th. Stockholders of record on Friday, September 13th will be given a dividend of $0.384 per share. The ex-dividend date is Friday, September 13th. This represents a $1.54 annualized dividend and a dividend yield of 4.42%. Canadian Natural Resources’s dividend payout ratio is presently 61.75%.

Wall Street Analysts Forecast Growth

CNQ has been the topic of a number of research analyst reports. Wolfe Research started coverage on Canadian Natural Resources in a report on Thursday, July 18th. They set a “peer perform” rating on the stock. Scotiabank reiterated a “sector perform” rating on shares of Canadian Natural Resources in a research note on Tuesday, June 11th. Finally, StockNews.com downgraded shares of Canadian Natural Resources from a “buy” rating to a “hold” rating in a research report on Friday, August 23rd. Six analysts have rated the stock with a hold rating and one has given a buy rating to the company. Based on data from MarketBeat.com, Canadian Natural Resources presently has a consensus rating of “Hold” and an average target price of $49.50.

Canadian Natural Resources 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).