Canadian Natural Resources Limited $CNQ Shares Sold by Bank of New York Mellon Corp

Bank of New York Mellon Corp lowered its holdings in Canadian Natural Resources Limited (NYSE:CNQ) (TSE:CNQ) by 6.8% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 3,902,282 shares of the oil and gas producer’s stock after selling 282,909 shares during the quarter. Bank of New York Mellon Corp owned 0.19% of Canadian Natural Resources worth $124,717,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in CNQ. Picton Mahoney Asset Management purchased a new position in Canadian Natural Resources in the 2nd quarter valued at approximately $162,575,000. Vanguard Group Inc. increased its position 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 valued at $2,852,024,000 after buying an additional 3,003,542 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of Canadian Natural Resources by 19.8% during the 2nd quarter. Geode Capital Management LLC now owns 17,146,792 shares of the oil and gas producer’s stock worth $548,214,000 after buying an additional 2,832,155 shares during the last quarter. The Manufacturers Life Insurance Company boosted its position in shares of Canadian Natural Resources by 10.3% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 27,359,777 shares of the oil and gas producer’s stock worth $855,414,000 after buying an additional 2,546,233 shares in the last quarter. Finally, Fisher Asset Management LLC grew its stake in Canadian Natural Resources by 4.5% in the 2nd quarter. Fisher Asset Management LLC now owns 47,939,585 shares of the oil and gas producer’s stock valued at $1,505,303,000 after acquiring an additional 2,051,714 shares during the last quarter. 74.03% of the stock is owned by institutional investors and hedge funds.

Canadian Natural Resources Trading Down 1.8%

CNQ stock opened at $37.20 on Friday. The company has a quick ratio of 0.53, a current ratio of 0.86 and a debt-to-equity ratio of 0.41. The company has a market cap of $77.44 billion, a price-to-earnings ratio of 16.46 and a beta of 0.69. The business has a fifty day simple moving average of $33.69 and a 200-day simple moving average of $32.27. Canadian Natural Resources Limited has a 52 week low of $24.65 and a 52 week high of $38.32.

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 (EPS) for the quarter, beating analysts’ consensus estimates of $0.54 by $0.08. The firm had revenue of $6.79 billion during the quarter, compared to the consensus estimate of $6.81 billion. Canadian Natural Resources had a return on equity of 18.93% and a net margin of 14.90%.During the same quarter in the previous year, the business earned $0.97 earnings per share. On average, equities research analysts expect that Canadian Natural Resources Limited will post 2.45 EPS for the current year.

Canadian Natural Resources Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, January 6th. Investors of record on Friday, December 12th were issued a $0.5875 dividend. The ex-dividend date was Friday, December 12th. This is a positive change from Canadian Natural Resources’s previous quarterly dividend of $0.43. This represents a $2.35 annualized dividend and a yield of 6.3%. Canadian Natural Resources’s payout ratio is 74.34%.

Analyst Ratings Changes

Several analysts have issued reports on the stock. Wall Street Zen raised shares of Canadian Natural Resources from a “sell” rating to a “hold” rating in a report on Saturday. Desjardins cut Canadian Natural Resources from a “buy” rating to a “hold” rating in a report on Monday, November 24th. Wells Fargo & Company raised Canadian Natural Resources to a “hold” rating in a report on Thursday, October 16th. The Goldman Sachs Group set a $35.00 price objective on Canadian Natural Resources and gave the stock a “buy” rating in a research report on Friday, January 2nd. Finally, Zacks Research cut shares of Canadian Natural Resources from a “strong-buy” rating to a “hold” rating in a research note on Friday, December 19th. Five research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. According to MarketBeat.com, Canadian Natural Resources currently has an average rating of “Hold” and a consensus price target of $48.50.

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.