Allianz Asset Management GmbH trimmed its position in shares of Canadian Natural Resources Limited (NYSE:CNQ – Free Report) (TSE:CNQ) by 13.5% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 607,331 shares of the oil and gas producer’s stock after selling 95,179 shares during the quarter. Allianz Asset Management GmbH’s holdings in Canadian Natural Resources were worth $19,454,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other institutional investors and hedge funds have also recently modified their holdings of CNQ. Haven Private LLC lifted its holdings in Canadian Natural Resources by 3.4% in the second quarter. Haven Private LLC now owns 11,617 shares of the oil and gas producer’s stock valued at $365,000 after acquiring an additional 383 shares during the period. King Luther Capital Management Corp increased its position in shares of Canadian Natural Resources by 1.2% during the 2nd quarter. King Luther Capital Management Corp now owns 32,283 shares of the oil and gas producer’s stock valued at $1,014,000 after purchasing an additional 387 shares during the last quarter. Frank Rimerman Advisors LLC increased its position in shares of Canadian Natural Resources by 2.2% during the 3rd quarter. Frank Rimerman Advisors LLC now owns 17,886 shares of the oil and gas producer’s stock valued at $572,000 after purchasing an additional 390 shares during the last quarter. Kingsview Wealth Management LLC lifted its stake in shares of Canadian Natural Resources by 5.7% in the 2nd quarter. Kingsview Wealth Management LLC now owns 8,109 shares of the oil and gas producer’s stock worth $255,000 after purchasing an additional 434 shares during the period. Finally, Verdence Capital Advisors LLC boosted its holdings in shares of Canadian Natural Resources by 0.8% in the second quarter. Verdence Capital Advisors LLC now owns 58,891 shares of the oil and gas producer’s stock worth $1,849,000 after buying an additional 460 shares during the last quarter. 74.03% of the stock is currently owned by hedge funds and other institutional investors.
Canadian Natural Resources Trading Up 3.1%
Shares of CNQ opened at $39.08 on Friday. Canadian Natural Resources Limited has a 1 year low of $24.65 and a 1 year high of $39.12. The company has a 50 day simple moving average of $34.15 and a two-hundred day simple moving average of $32.50. The company has a debt-to-equity ratio of 0.41, a current ratio of 0.86 and a quick ratio of 0.53. The firm has a market cap of $81.35 billion, a P/E ratio of 17.29 and a beta of 0.68.
Canadian Natural Resources (NYSE:CNQ – Get Free Report) (TSE:CNQ) last issued its earnings results on Thursday, November 6th. The oil and gas producer reported $0.62 earnings per share for the quarter, topping analysts’ consensus estimates of $0.54 by $0.08. The firm had revenue of $6.79 billion during the quarter, compared to analyst estimates of $6.81 billion. Canadian Natural Resources had a net margin of 14.90% and a return on equity of 18.93%. During the same quarter in the prior year, the business earned $0.97 earnings per share. On average, equities analysts expect that Canadian Natural Resources Limited will post 2.45 earnings per share for the current fiscal year.
Analyst Upgrades and Downgrades
A number of brokerages have commented on CNQ. Desjardins cut shares of Canadian Natural Resources from a “buy” rating to a “hold” rating in a report on Monday, November 24th. The Goldman Sachs Group set a $35.00 price objective on Canadian Natural Resources and gave the stock a “buy” rating in a research note on Friday, January 2nd. Zacks Research cut Canadian Natural Resources from a “strong-buy” rating to a “hold” rating in a report on Friday, December 19th. Evercore lowered Canadian Natural Resources from an “outperform” rating to an “in-line” rating in a report on Tuesday, January 6th. Finally, Wall Street Zen upgraded Canadian Natural Resources from a “sell” rating to a “hold” rating in a research report on Saturday, January 31st. Five investment analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $48.50.
View Our Latest Stock Report on Canadian Natural Resources
Canadian Natural Resources Company Profile
(Free Report)
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.
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