Aviso Financial Inc. Sells 335,045 Shares of Canadian Natural Resources Limited $CNQ

Aviso Financial Inc. cut its position in Canadian Natural Resources Limited (NYSE:CNQ) (TSE:CNQ) by 11.4% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,595,601 shares of the oil and gas producer’s stock after selling 335,045 shares during the quarter. Canadian Natural Resources accounts for about 3.7% of Aviso Financial Inc.’s portfolio, making the stock its 8th largest holding. Aviso Financial Inc. owned about 0.12% of Canadian Natural Resources worth $81,565,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Brandywine Global Investment Management LLC raised its holdings in shares of Canadian Natural Resources by 27.5% during the 1st 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 bought a new position in Canadian Natural Resources in the second quarter valued at about $361,000. Sei Investments Co. raised its stake in Canadian Natural Resources by 41.9% during the first quarter. Sei Investments Co. now owns 49,307 shares of the oil and gas producer’s stock worth $1,519,000 after acquiring an additional 14,561 shares in the last quarter. Vanguard Group Inc. lifted its holdings in shares of Canadian Natural Resources by 3.4% in the second 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 during the last quarter. Finally, Journey Advisory Group LLC acquired a new stake in shares of Canadian Natural Resources in the 2nd quarter valued at approximately $2,458,000. Institutional investors own 74.03% of the company’s stock.

Canadian Natural Resources Trading Down 1.5%

NYSE CNQ opened at $32.94 on Tuesday. The stock has a market capitalization of $68.62 billion, a P/E ratio of 11.68 and a beta of 0.96. Canadian Natural Resources Limited has a one year low of $24.65 and a one year high of $34.97. The company has a debt-to-equity ratio of 0.38, a current ratio of 0.85 and a quick ratio of 0.54. The business has a 50 day simple moving average of $32.04 and a 200 day simple moving average of $31.59.

Canadian Natural Resources (NYSE:CNQ) (TSE:CNQ) last released its quarterly earnings data on Thursday, November 6th. The oil and gas producer reported $0.62 earnings per share for the quarter, beating the consensus estimate of $0.54 by $0.08. The company had revenue of $6.79 billion during the quarter, compared to analyst estimates of $6.81 billion. Canadian Natural Resources had a net margin of 19.00% and a return on equity of 19.67%. During the same quarter in the previous year, the business posted $0.97 EPS. Research analysts expect that Canadian Natural Resources Limited will post 2.45 earnings per share 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. Shareholders of record on Friday, December 12th will be paid a $0.5875 dividend. This represents a $2.35 dividend on an annualized basis and a dividend yield of 7.1%. This is a positive change from Canadian Natural Resources’s previous quarterly dividend of $0.43. The ex-dividend date of this dividend is Friday, December 12th. Canadian Natural Resources’s payout ratio is 73.89%.

Analysts Set New Price Targets

Several brokerages recently commented on CNQ. Weiss Ratings reissued a “hold (c)” rating on shares of Canadian Natural Resources in a research note on Wednesday, October 8th. TD Securities reiterated a “buy” rating on shares of Canadian Natural Resources in a report on Tuesday, September 30th. 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. Desjardins lowered Canadian Natural Resources from a “buy” rating to a “hold” rating in a research report on Monday. Finally, Raymond James Financial reiterated an “outperform” rating on shares of Canadian Natural Resources in a research report on Friday, August 8th. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat.com, Canadian Natural Resources currently has an average rating of “Moderate Buy” and an average price target 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).