Kerrisdale Advisers LLC Reduces Stake in Canadian Natural Resources Limited $CNQ

Kerrisdale Advisers LLC reduced its stake in shares of Canadian Natural Resources Limited (NYSE:CNQ) (TSE:CNQ) by 62.4% during the 2nd quarter, HoldingsChannel reports. The fund owned 27,500 shares of the oil and gas producer’s stock after selling 45,650 shares during the period. Kerrisdale Advisers LLC’s holdings in Canadian Natural Resources were worth $1,087,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of the stock. Capital Research Global Investors increased its position in shares of Canadian Natural Resources by 31.5% during the 4th quarter. Capital Research Global Investors now owns 146,331,336 shares of the oil and gas producer’s stock valued at $4,956,204,000 after purchasing an additional 35,067,143 shares during the last quarter. Arrowstreet Capital Limited Partnership bought a new position in Canadian Natural Resources during the first quarter valued at $1,411,619,000. AQR Capital Management LLC raised its stake in shares of Canadian Natural Resources by 11,020.4% in the fourth quarter. AQR Capital Management LLC now owns 3,680,735 shares of the oil and gas producer’s stock valued at $124,672,000 after acquiring an additional 3,647,636 shares during the period. Healthcare of Ontario Pension Plan Trust Fund lifted its holdings in shares of Canadian Natural Resources by 10.0% in the 1st quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 37,457,500 shares of the oil and gas producer’s stock worth $1,826,578,000 after acquiring an additional 3,397,500 shares during the last quarter. Finally, Bank of New York Mellon Corp purchased a new position in shares of Canadian Natural Resources during the 2nd quarter worth about $117,215,000. 74.03% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several brokerages have issued reports on CNQ. Desjardins raised shares of Canadian Natural Resources to a “hold” rating in a research note on Thursday, July 16th. Weiss Ratings upgraded Canadian Natural Resources from a “buy (b-)” rating to a “buy (b)” rating in a report on Friday, August 21st. Canadian Imperial Bank of Commerce reiterated an “outperform” rating on shares of Canadian Natural Resources in a research note on Thursday. Wall Street Zen upgraded shares of Canadian Natural Resources from a “hold” rating to a “buy” rating in a report on Saturday, August 15th. Finally, Raymond James Financial raised shares of Canadian Natural Resources from a “market perform” rating to an “outperform” rating in a research note on Thursday, May 7th. Seven analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $57.00.

Canadian Natural Resources Stock Up 0.2%

NYSE:CNQ opened at $49.07 on Monday. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.00 and a quick ratio of 0.75. Canadian Natural Resources Limited has a 1-year low of $29.68 and a 1-year high of $51.47. The company has a 50-day moving average of $44.89 and a 200 day moving average of $45.48. The firm has a market cap of $101.20 billion, a PE ratio of 12.12 and a beta of 0.46.

Canadian Natural Resources (NYSE:CNQ) (TSE:CNQ) last released its quarterly earnings results on Thursday, August 6th. The oil and gas producer reported $1.58 EPS for the quarter, topping the consensus estimate of $1.43 by $0.15. Canadian Natural Resources had a return on equity of 23.91% and a net margin of 22.78%.The firm had revenue of $14.74 billion during the quarter, compared to analyst estimates of $9.40 billion. As a group, research analysts anticipate that Canadian Natural Resources Limited will post 4.05 EPS for the current fiscal year.

Canadian Natural Resources Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, October 2nd. Investors of record on Friday, September 11th will be given a dividend of $0.625 per share. The ex-dividend date of this dividend is Friday, September 11th. This represents a $2.50 dividend on an annualized basis and a yield of 5.1%. Canadian Natural Resources’s dividend payout ratio is presently 44.69%.

Canadian Natural Resources Company 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.