Canadian Natural Resources Limited (NYSE:CNQ) Shares Sold by Investment Management Associates Inc. ADV

Investment Management Associates Inc. ADV lowered its holdings in shares of Canadian Natural Resources Limited (NYSE:CNQ) (TSE:CNQ) by 2.8% in the third quarter, HoldingsChannel.com reports. The fund owned 245,227 shares of the oil and gas producer’s stock after selling 7,120 shares during the quarter. Canadian Natural Resources comprises about 3.2% of Investment Management Associates Inc. ADV’s investment portfolio, making the stock its 13th biggest holding. Investment Management Associates Inc. ADV’s holdings in Canadian Natural Resources were worth $8,144,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Nations Financial Group Inc. IA ADV raised its position in shares of Canadian Natural Resources by 7.9% in the third quarter. Nations Financial Group Inc. IA ADV now owns 14,996 shares of the oil and gas producer’s stock valued at $498,000 after buying an additional 1,098 shares during the last quarter. Venturi Wealth Management LLC raised its position in shares of Canadian Natural Resources by 76.8% in the third quarter. Venturi Wealth Management LLC now owns 6,323 shares of the oil and gas producer’s stock valued at $210,000 after buying an additional 2,747 shares during the last quarter. Meixler Investment Management Ltd. raised its position in shares of Canadian Natural Resources by 10.0% in the third quarter. Meixler Investment Management Ltd. now owns 149,806 shares of the oil and gas producer’s stock valued at $4,975,000 after buying an additional 13,594 shares during the last quarter. Ted Buchan & Co raised its position in shares of Canadian Natural Resources by 2.7% in the third quarter. Ted Buchan & Co now owns 20,483 shares of the oil and gas producer’s stock valued at $680,000 after buying an additional 540 shares during the last quarter. Finally, Lindbrook Capital LLC raised its position in shares of Canadian Natural Resources by 80.7% in the third quarter. Lindbrook Capital LLC now owns 6,322 shares of the oil and gas producer’s stock valued at $210,000 after buying an additional 2,824 shares during the last quarter. Institutional investors and hedge funds own 74.03% of the company’s stock.

Canadian Natural Resources Trading Up 0.2 %

CNQ opened at $34.24 on Tuesday. The stock has a market capitalization of $72.37 billion, a PE ratio of 13.30 and a beta of 1.50. The firm’s fifty day moving average price is $34.51 and its 200 day moving average price is $35.63. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.84 and a quick ratio of 0.53. 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 issued its earnings results on Thursday, October 31st. The oil and gas producer reported $0.97 earnings per share for the quarter, topping analysts’ consensus estimates of $0.67 by $0.30. The company had revenue of $7.62 billion for the quarter, compared to analysts’ expectations of $6.40 billion. Canadian Natural Resources had a net margin of 18.45% and a return on equity of 20.07%. During the same period in the prior year, the company earned $0.96 earnings per share. As a group, research analysts expect that Canadian Natural Resources Limited will post 2.38 EPS for the current fiscal year.

Canadian Natural Resources Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 3rd. Investors of record on Friday, December 13th will be issued a $0.388 dividend. This represents a $1.55 dividend on an annualized basis and a dividend yield of 4.53%. The ex-dividend date is Friday, December 13th. This is a boost from Canadian Natural Resources’s previous quarterly dividend of $0.38. Canadian Natural Resources’s dividend payout ratio (DPR) is 60.58%.

Analyst Ratings Changes

A number of research firms have recently weighed in on CNQ. StockNews.com lowered shares of Canadian Natural Resources from a “buy” rating to a “hold” rating in a research report on Friday, August 23rd. Desjardins upgraded shares of Canadian Natural Resources from a “hold” rating to a “moderate buy” rating in a research note on Tuesday, October 8th. Finally, Wolfe Research initiated coverage on shares of Canadian Natural Resources in a research note on Thursday, July 18th. They issued a “peer perform” rating for the company. Five research analysts have rated the stock with a hold rating, According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $51.00.

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).