Alliancebernstein L.P. trimmed its stake in Canadian Natural Resources Ltd (NYSE:CNQ) (TSE:CNQ) by 92.8% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 252,201 shares of the oil and gas producer’s stock after selling 3,245,444 shares during the period. Alliancebernstein L.P.’s holdings in Canadian Natural Resources were worth $8,237,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently bought and sold shares of CNQ. Legacy Financial Advisors Inc. acquired a new stake in Canadian Natural Resources during the 3rd quarter worth about $148,000. Livingston Group Asset Management CO operating as Southport Capital Management bought a new position in shares of Canadian Natural Resources during the 3rd quarter worth about $153,000. Cubist Systematic Strategies LLC boosted its position in shares of Canadian Natural Resources by 50.0% during the 2nd quarter. Cubist Systematic Strategies LLC now owns 5,400 shares of the oil and gas producer’s stock worth $195,000 after purchasing an additional 1,800 shares in the last quarter. Checchi Capital Advisers LLC bought a new position in shares of Canadian Natural Resources during the 3rd quarter worth about $212,000. Finally, Signaturefd LLC boosted its position in shares of Canadian Natural Resources by 49.7% during the 2nd quarter. Signaturefd LLC now owns 6,999 shares of the oil and gas producer’s stock worth $252,000 after purchasing an additional 2,323 shares in the last quarter. Institutional investors and hedge funds own 66.30% of the company’s stock.

A number of equities analysts have recently issued reports on the stock. TD Securities reissued a “buy” rating on shares of Canadian Natural Resources in a research report on Friday. Citigroup cut their price objective on shares of Canadian Natural Resources from $38.00 to $29.00 and set a “neutral” rating on the stock in a research report on Friday. BMO Capital Markets reissued a “buy” rating on shares of Canadian Natural Resources in a research report on Thursday. Macquarie raised shares of Canadian Natural Resources from a “neutral” rating to an “outperform” rating in a research report on Tuesday, December 4th. Finally, Canaccord Genuity reissued a “buy” rating and set a $50.00 price objective on shares of Canadian Natural Resources in a research report on Tuesday, November 20th. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and ten have given a buy rating to the company’s stock. Canadian Natural Resources currently has a consensus rating of “Buy” and a consensus price target of $43.23.

Shares of NYSE CNQ opened at $26.93 on Monday. Canadian Natural Resources Ltd has a fifty-two week low of $24.02 and a fifty-two week high of $38.20. The stock has a market capitalization of $32.48 billion, a P/E ratio of 32.45, a price-to-earnings-growth ratio of 1.71 and a beta of 1.34. The company has a current ratio of 0.92, a quick ratio of 0.69 and a debt-to-equity ratio of 0.58.

Canadian Natural Resources (NYSE:CNQ) (TSE:CNQ) last announced its quarterly earnings results on Thursday, November 1st. The oil and gas producer reported $1.11 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.66 by $0.45. Canadian Natural Resources had a net margin of 15.94% and a return on equity of 12.33%. The business had revenue of $4.51 billion for the quarter, compared to analysts’ expectations of $4.71 billion. During the same quarter last year, the firm earned $0.19 EPS. As a group, sell-side analysts expect that Canadian Natural Resources Ltd will post 2.63 earnings per share for the current year.

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 given a $0.255 dividend. The ex-dividend date is Friday, December 7th. This represents a $1.02 annualized dividend and a yield of 3.79%. Canadian Natural Resources’s payout ratio is 124.10%.

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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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Institutional Ownership by Quarter for Canadian Natural Resources (NYSE:CNQ)

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