Allianz Asset Management GmbH Sells 95,179 Shares of Canadian Natural Resources Limited $CNQ

Allianz Asset Management GmbH lowered its stake in shares of Canadian Natural Resources Limited (NYSE:CNQ) (TSE:CNQ) by 13.5% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 607,331 shares of the oil and gas producer’s stock after selling 95,179 shares during the quarter. Allianz Asset Management GmbH’s holdings in Canadian Natural Resources were worth $19,454,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently bought and sold shares of CNQ. Jones Financial Companies Lllp boosted its position in Canadian Natural Resources by 32.0% during the 3rd quarter. Jones Financial Companies Lllp now owns 12,821 shares of the oil and gas producer’s stock valued at $419,000 after acquiring an additional 3,108 shares in the last quarter. State of Wyoming boosted its position in shares of Canadian Natural Resources by 57.5% during the third quarter. State of Wyoming now owns 12,185 shares of the oil and gas producer’s stock valued at $390,000 after purchasing an additional 4,447 shares in the last quarter. Mediolanum International Funds Ltd boosted its position in shares of Canadian Natural Resources by 12.8% during the third quarter. Mediolanum International Funds Ltd now owns 157,846 shares of the oil and gas producer’s stock valued at $5,105,000 after purchasing an additional 17,917 shares in the last quarter. Principal Financial Group Inc. grew its stake in Canadian Natural Resources by 2.0% in the third quarter. Principal Financial Group Inc. now owns 1,716,038 shares of the oil and gas producer’s stock worth $54,883,000 after purchasing an additional 33,609 shares during the period. Finally, Independent Advisor Alliance raised its holdings in Canadian Natural Resources by 29.5% in the third quarter. Independent Advisor Alliance now owns 17,232 shares of the oil and gas producer’s stock worth $551,000 after purchasing an additional 3,922 shares in the last quarter. 74.03% of the stock is owned by institutional investors.

Analysts Set New Price Targets

CNQ has been the topic of a number of research reports. The Goldman Sachs Group set a $35.00 target price on shares of Canadian Natural Resources and gave the company a “buy” rating in a report on Friday, January 2nd. Wall Street Zen raised shares of Canadian Natural Resources from a “sell” rating to a “hold” rating in a research note on Saturday, January 31st. Zacks Research cut shares of Canadian Natural Resources from a “strong-buy” rating to a “hold” rating in a report on Friday, December 19th. Wells Fargo & Company upgraded shares of Canadian Natural Resources to a “hold” rating in a report on Thursday, October 16th. Finally, Evercore downgraded Canadian Natural Resources from an “outperform” rating to an “in-line” rating in a research note on Tuesday, January 6th. Five equities research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. According to data from MarketBeat.com, Canadian Natural Resources presently has an average rating of “Hold” and an average price target of $48.50.

Canadian Natural Resources Stock Performance

CNQ stock opened at $39.08 on Friday. The stock’s 50 day simple moving average is $34.15 and its 200 day simple moving average is $32.50. The company has a current ratio of 0.86, a quick ratio of 0.53 and a debt-to-equity ratio of 0.41. Canadian Natural Resources Limited has a 12-month low of $24.65 and a 12-month high of $39.12. The stock has a market capitalization of $81.35 billion, a PE ratio of 17.29 and a beta of 0.68.

Canadian Natural Resources (NYSE:CNQ) (TSE:CNQ) last posted its quarterly earnings results on Thursday, November 6th. The oil and gas producer reported $0.62 earnings per share for the quarter, topping the consensus estimate of $0.54 by $0.08. Canadian Natural Resources had a return on equity of 18.93% and a net margin of 14.90%.The firm had revenue of $6.79 billion during the quarter, compared to analysts’ expectations of $6.81 billion. During the same quarter in the previous year, the business earned $0.97 earnings per share. As a group, research analysts forecast that Canadian Natural Resources Limited will post 2.45 earnings per share for the current fiscal year.

Canadian Natural Resources Profile

Canadian Natural Resources Limited (NYSE: CNQ) is a Calgary-based independent oil and natural gas exploration and production company. Established in the early 1970s and publicly listed in Canada and the United States, the company is principally engaged in the exploration, development, production, and marketing of crude oil, natural gas and natural gas liquids. Its asset base spans conventional and unconventional reservoirs and includes oil sands mining and in-situ thermal projects, midstream processing and upgrading capacity, and related field operations.

The company’s operations are concentrated in Western Canada, where it develops heavy crude, bitumen from oil sands and conventional light crude and natural gas resources.