Canadian Natural Resources Limited $CNQ Shares Sold by Sustainable Insight Capital Management LLC

Sustainable Insight Capital Management LLC lessened its position in shares of Canadian Natural Resources Limited (NYSE:CNQ) (TSE:CNQ) by 47.8% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 11,942 shares of the oil and gas producer’s stock after selling 10,950 shares during the period. Sustainable Insight Capital Management LLC’s holdings in Canadian Natural Resources were worth $583,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in CNQ. Sunbelt Securities Inc. acquired a new stake in shares of Canadian Natural Resources during the 4th quarter valued at approximately $25,000. Manchester Capital Management LLC bought a new position in shares of Canadian Natural Resources in the 4th quarter worth about $28,000. Leonteq Securities AG acquired a new position in shares of Canadian Natural Resources in the 4th quarter valued at about $31,000. Quarry LP acquired a new position in shares of Canadian Natural Resources in the 3rd quarter valued at about $32,000. Finally, LOM Asset Management Ltd bought a new stake in shares of Canadian Natural Resources during the 4th quarter valued at about $34,000. Institutional investors and hedge funds own 74.03% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on CNQ shares. Zacks Research upgraded shares of Canadian Natural Resources from a “hold” rating to a “strong-buy” rating in a research note on Tuesday. Raymond James Financial upgraded Canadian Natural Resources from a “market perform” rating to an “outperform” rating in a research note on Thursday, May 7th. Scotiabank raised Canadian Natural Resources to a “hold” rating in a report on Friday, June 26th. Weiss Ratings cut Canadian Natural Resources from a “buy (b)” rating to a “buy (b-)” rating in a research report on Monday, May 11th. Finally, Desjardins raised Canadian Natural Resources to a “hold” rating in a report on Thursday, July 16th. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat, Canadian Natural Resources has a consensus rating of “Moderate Buy” and a consensus price target of $57.00.

Canadian Natural Resources Stock Performance

Shares of CNQ opened at $46.45 on Friday. The firm has a fifty day moving average of $43.96 and a 200-day moving average of $43.20. The company has a market cap of $96.40 billion, a price-to-earnings ratio of 13.86 and a beta of 0.47. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.68 and a current ratio of 0.98. Canadian Natural Resources Limited has a 1 year low of $29.30 and a 1 year high of $51.34.

Canadian Natural Resources (NYSE:CNQ) (TSE:CNQ) last released its quarterly earnings data on Thursday, May 7th. The oil and gas producer reported $0.85 earnings per share for the quarter, topping analysts’ consensus estimates of $0.74 by $0.11. The business had revenue of $7.72 billion for the quarter, compared to analysts’ expectations of $7.57 billion. Canadian Natural Resources had a net margin of 22.04% and a return on equity of 17.49%. During the same quarter last year, the company earned $1.16 EPS. As a group, equities analysts anticipate that Canadian Natural Resources Limited will post 3.89 earnings per share for the current year.

Canadian Natural Resources Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, July 7th. Shareholders of record on Tuesday, June 23rd were given a $0.625 dividend. The ex-dividend date was Tuesday, June 23rd. This represents a $2.50 annualized dividend and a yield of 5.4%. Canadian Natural Resources’s dividend payout ratio is 54.03%.

About Canadian Natural Resources

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.