Boston Partners Cuts Holdings in Canadian Natural Resources Limited $CNQ

Boston Partners decreased its position in Canadian Natural Resources Limited (NYSE:CNQ) (TSE:CNQ) by 20.6% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 5,887,562 shares of the oil and gas producer’s stock after selling 1,523,890 shares during the period. Boston Partners owned 0.28% of Canadian Natural Resources worth $184,882,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently modified their holdings of the company. Verity & Verity LLC increased its position in shares of Canadian Natural Resources by 1.1% during the second quarter. Verity & Verity LLC now owns 490,659 shares of the oil and gas producer’s stock valued at $15,407,000 after acquiring an additional 5,188 shares during the last quarter. Picton Mahoney Asset Management bought a new position in Canadian Natural Resources in the 2nd quarter valued at $162,575,000. Longfellow Investment Management Co. LLC bought a new position in Canadian Natural Resources in the 2nd quarter valued at $21,092,000. Prudential Financial Inc. increased its position in shares of Canadian Natural Resources by 80.0% during the 2nd quarter. Prudential Financial Inc. now owns 76,235 shares of the oil and gas producer’s stock valued at $2,391,000 after purchasing an additional 33,877 shares during the last quarter. Finally, Coldstream Capital Management Inc. raised its stake in shares of Canadian Natural Resources by 30.0% during the 2nd quarter. Coldstream Capital Management Inc. now owns 9,557 shares of the oil and gas producer’s stock worth $300,000 after purchasing an additional 2,208 shares during the period. Institutional investors own 74.03% of the company’s stock.

Canadian Natural Resources Stock Performance

NYSE CNQ opened at $33.34 on Thursday. The firm has a market cap of $69.46 billion, a P/E ratio of 11.82 and a beta of 0.96. The company has a quick ratio of 0.54, a current ratio of 0.85 and a debt-to-equity ratio of 0.38. The company’s 50 day moving average is $32.05 and its 200-day moving average is $31.62. Canadian Natural Resources Limited has a 12-month low of $24.65 and a 12-month high of $34.97.

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 analysts’ consensus estimates of $0.54 by $0.08. Canadian Natural Resources had a net margin of 19.00% and a return on equity of 19.67%. The business had revenue of $6.79 billion during the quarter, compared to analyst estimates of $6.81 billion. During the same period in the previous year, the business earned $0.97 EPS. Sell-side analysts predict 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 disclosed a quarterly dividend, which will be paid on Tuesday, January 6th. Investors of record on Friday, December 12th will be paid a dividend of $0.5875 per share. This represents a $2.35 dividend on an annualized basis and a dividend yield of 7.0%. The ex-dividend date is Friday, December 12th. This is a positive change from Canadian Natural Resources’s previous quarterly dividend of $0.43. Canadian Natural Resources’s dividend payout ratio is presently 73.89%.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the stock. Zacks Research upgraded shares of Canadian Natural Resources from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, August 26th. Wells Fargo & Company upgraded shares of Canadian Natural Resources to a “hold” rating in a research note on Thursday, October 16th. Raymond James Financial reissued an “outperform” rating on shares of Canadian Natural Resources in a research report on Friday, August 8th. Scotiabank reaffirmed an “outperform” rating on shares of Canadian Natural Resources in a report on Thursday, October 9th. Finally, Desjardins downgraded Canadian Natural Resources from a “buy” rating to a “hold” rating in a research note on Monday. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and five have issued a Hold rating to the company. According to MarketBeat.com, Canadian Natural Resources has a consensus rating of “Moderate Buy” and a consensus 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).