Immersion Capital LLP Cuts Stock Position in Canadian Natural Resources Limited $CNQ

Immersion Capital LLP trimmed its position in shares of Canadian Natural Resources Limited (NYSE:CNQ) (TSE:CNQ) by 27.9% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 61,874 shares of the oil and gas producer’s stock after selling 24,000 shares during the period. Canadian Natural Resources comprises 3.0% of Immersion Capital LLP’s holdings, making the stock its 9th biggest holding. Immersion Capital LLP’s holdings in Canadian Natural Resources were worth $2,094,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Manchester Capital Management LLC bought a new position in Canadian Natural Resources during the 4th quarter valued at about $28,000. Leonteq Securities AG bought a new position in Canadian Natural Resources during the 4th quarter valued at about $31,000. GoalVest Advisory LLC bought a new position in Canadian Natural Resources during the 4th quarter valued at about $32,000. Quarry LP bought a new position in Canadian Natural Resources during the 3rd quarter valued at about $32,000. Finally, LOM Asset Management Ltd bought a new position in Canadian Natural Resources during the 4th quarter valued at about $34,000. 74.03% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on CNQ shares. Weiss Ratings downgraded shares of Canadian Natural Resources from a “buy (b)” rating to a “buy (b-)” rating in a report on Monday, May 11th. Scotiabank reissued an “outperform” rating on shares of Canadian Natural Resources in a research report on Wednesday, May 20th. ATB Cormark Capital Markets cut shares of Canadian Natural Resources from a “strong-buy” rating to a “moderate buy” rating in a research report on Thursday, March 5th. Raymond James Financial raised shares of Canadian Natural Resources from a “market perform” rating to an “outperform” rating in a research report on Thursday, May 7th. Finally, The Goldman Sachs Group boosted their price objective on shares of Canadian Natural Resources from $37.00 to $49.00 and gave the company a “buy” rating in a research report on Thursday, March 12th. Seven analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat, Canadian Natural Resources presently has an average rating of “Moderate Buy” and an average price target of $57.00.

Canadian Natural Resources Price Performance

Canadian Natural Resources stock opened at $42.34 on Thursday. The firm has a 50-day moving average of $46.19 and a two-hundred day moving average of $41.64. Canadian Natural Resources Limited has a 1 year low of $29.30 and a 1 year high of $51.34. The stock has a market cap of $88.13 billion, a price-to-earnings ratio of 12.64 and a beta of 0.45. The company has a debt-to-equity ratio of 0.37, a current ratio of 0.98 and a quick ratio of 0.68.

Canadian Natural Resources (NYSE:CNQ) (TSE:CNQ) last announced its quarterly earnings results on Thursday, May 7th. The oil and gas producer reported $0.85 earnings per share for the quarter, topping the consensus estimate of $0.74 by $0.11. Canadian Natural Resources had a net margin of 22.04% and a return on equity of 17.49%. The firm had revenue of $7.72 billion during the quarter, compared to analysts’ expectations of $7.57 billion. During the same quarter in the prior year, the company earned $1.16 EPS. On average, research analysts forecast that Canadian Natural Resources Limited will post 4.2 earnings per share for the current year.

Canadian Natural Resources Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 7th. Stockholders of record on Tuesday, June 23rd will be given a $0.625 dividend. This represents a $2.50 annualized dividend and a dividend yield of 5.9%. The ex-dividend date of this dividend is Tuesday, June 23rd. Canadian Natural Resources’s dividend payout ratio is presently 54.03%.

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.