Wells Fargo & Company MN lowered its position in shares of Canadian Natural Resources Ltd (NYSE:CNQ) (TSE:CNQ) by 5.8% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 484,232 shares of the oil and gas producer’s stock after selling 30,031 shares during the quarter. Wells Fargo & Company MN’s holdings in Canadian Natural Resources were worth $15,814,000 at the end of the most recent reporting period.
A number of other large investors have also recently added to or reduced their stakes in the business. Legacy Financial Advisors Inc. acquired a new stake in shares of Canadian Natural Resources in the 3rd quarter valued at approximately $148,000. Livingston Group Asset Management CO operating as Southport Capital Management acquired a new stake in shares of Canadian Natural Resources in the 3rd quarter valued at approximately $153,000. Cubist Systematic Strategies LLC boosted its holdings in shares of Canadian Natural Resources by 50.0% in the 2nd quarter. Cubist Systematic Strategies LLC now owns 5,400 shares of the oil and gas producer’s stock valued at $195,000 after buying an additional 1,800 shares during the last quarter. Checchi Capital Advisers LLC acquired a new stake in shares of Canadian Natural Resources in the 3rd quarter valued at approximately $212,000. Finally, Signaturefd LLC boosted its holdings in shares of Canadian Natural Resources by 49.7% in the 2nd quarter. Signaturefd LLC now owns 6,999 shares of the oil and gas producer’s stock valued at $252,000 after buying an additional 2,323 shares during the last quarter. 66.30% of the stock is owned by hedge funds and other institutional investors.
CNQ opened at $27.03 on Thursday. Canadian Natural Resources Ltd has a 1-year low of $24.02 and a 1-year high of $38.20. The company has a current ratio of 0.92, a quick ratio of 0.69 and a debt-to-equity ratio of 0.58. The firm has a market capitalization of $32.79 billion, a P/E ratio of 32.57, a price-to-earnings-growth ratio of 1.69 and a beta of 1.34.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, January 1st. Investors of record on Monday, December 10th will be paid a $0.255 dividend. This represents a $1.02 dividend on an annualized basis and a yield of 3.77%. The ex-dividend date of this dividend is Friday, December 7th. Canadian Natural Resources’s dividend payout ratio (DPR) is presently 124.10%.
Several research firms have recently commented on CNQ. Macquarie raised Canadian Natural Resources from a “neutral” rating to an “outperform” rating in a report on Tuesday. Canaccord Genuity reissued a “buy” rating and issued a $50.00 price objective on shares of Canadian Natural Resources in a report on Tuesday, November 20th. Morgan Stanley cut their price objective on Canadian Natural Resources from $60.00 to $50.00 and set an “overweight” rating for the company in a report on Tuesday, November 20th. Raymond James reissued a “buy” rating on shares of Canadian Natural Resources in a report on Friday, November 2nd. Finally, Royal Bank of Canada reissued a “buy” rating on shares of Canadian Natural Resources in a report on Friday, November 2nd. Two research analysts have rated the stock with a sell rating, one has assigned a hold rating and eight have given a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $46.08.
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About Canadian Natural Resources
Canadian Natural Resources Limited explores for, develops, produces, and markets 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, and synthetic crude oil (SCO). Its midstream assets include two crude oil pipeline systems; and a 50% working interest in an 84-megawatt cogeneration plant at Primrose.
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