Canadian Natural Resources Limited (NYSE:CNQ) Shares Sold by Gotham Asset Management LLC

Gotham Asset Management LLC trimmed its holdings in shares of Canadian Natural Resources Limited (NYSE:CNQ) (TSE:CNQ) by 60.5% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 40,680 shares of the oil and gas producer’s stock after selling 62,244 shares during the period. Gotham Asset Management LLC’s holdings in Canadian Natural Resources were worth $1,256,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. TD Asset Management Inc. grew its position in shares of Canadian Natural Resources by 5.3% during the first quarter. TD Asset Management Inc. now owns 23,566,171 shares of the oil and gas producer’s stock worth $728,445,000 after acquiring an additional 1,184,127 shares during the last quarter. CIBC Asset Management Inc grew its position in shares of Canadian Natural Resources by 9.9% during the first quarter. CIBC Asset Management Inc now owns 15,004,496 shares of the oil and gas producer’s stock worth $463,484,000 after acquiring an additional 1,353,319 shares during the last quarter. Bank of Nova Scotia grew its position in shares of Canadian Natural Resources by 16.5% during the first quarter. Bank of Nova Scotia now owns 14,592,405 shares of the oil and gas producer’s stock worth $451,017,000 after acquiring an additional 2,062,384 shares during the last quarter. Franklin Resources Inc. grew its position in shares of Canadian Natural Resources by 10.4% during the first quarter. Franklin Resources Inc. now owns 11,665,884 shares of the oil and gas producer’s stock worth $360,584,000 after acquiring an additional 1,095,929 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD grew its position in shares of Canadian Natural Resources by 2.7% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 11,568,071 shares of the oil and gas producer’s stock worth $278,212,000 after acquiring an additional 306,964 shares during the last quarter. 67.48% of the stock is currently owned by institutional investors.

Shares of NYSE CNQ opened at $32.73 on Thursday. Canadian Natural Resources Limited has a twelve month low of $14.85 and a twelve month high of $38.10. The company has a quick ratio of 0.63, a current ratio of 0.81 and a debt-to-equity ratio of 0.55. The firm has a market cap of $38.83 billion, a P/E ratio of 69.91 and a beta of 1.88. The firm has a 50-day simple moving average of $35.24.

Canadian Natural Resources (NYSE:CNQ) (TSE:CNQ) last issued its quarterly earnings results on Thursday, May 6th. The oil and gas producer reported $0.81 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.67 by $0.14. Canadian Natural Resources had a net margin of 11.49% and a return on equity of 2.27%. The company had revenue of $5.22 billion during the quarter, compared to the consensus estimate of $4.90 billion. On average, sell-side analysts anticipate that Canadian Natural Resources Limited will post 3.75 EPS for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Monday, July 5th. Shareholders of record on Friday, June 18th were paid a dividend of $0.3855 per share. The ex-dividend date was Thursday, June 17th. This is a positive change from Canadian Natural Resources’s previous quarterly dividend of $0.37. This represents a $1.54 dividend on an annualized basis and a yield of 4.71%. Canadian Natural Resources’s dividend payout ratio is currently -151.16%.

CNQ has been the subject of several recent research reports. Royal Bank of Canada upped their price target on shares of Canadian Natural Resources from $44.00 to $45.00 and gave the stock an “outperform” rating in a research report on Friday, May 7th. The Goldman Sachs Group upgraded shares of Canadian Natural Resources from a “neutral” rating to a “buy” rating and increased their target price for the company from $38.00 to $44.00 in a research report on Friday, June 11th. Wells Fargo & Company increased their target price on shares of Canadian Natural Resources from $42.00 to $45.00 and gave the company an “equal weight” rating in a research report on Wednesday, June 30th. Tudor Pickering reiterated a “buy” rating on shares of Canadian Natural Resources in a research report on Friday, May 7th. Finally, Raymond James assumed coverage on shares of Canadian Natural Resources in a research report on Tuesday. They issued a “buy” rating and a $55.00 target price for the company. Two equities research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company. Canadian Natural Resources has a consensus rating of “Buy” and an average target price of $47.34.

About Canadian Natural Resources

Canadian Natural Resources Limited acquires, explores for, develops, produces, markets, and sells crude oil, natural gas, and natural gas liquids (NGLs). The company offers synthetic crude oil (SCO), light and medium crude oil, bitumen (thermal oil), primary heavy crude oil, and Pelican Lake heavy crude oil.

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

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