Canoe Financial LP Sells 608,879 Shares of Canadian Natural Resources Limited (NYSE:CNQ)

Canoe Financial LP lessened its stake in shares of Canadian Natural Resources Limited (NYSE:CNQ - Free Report) TSE: CNQ by 39.3% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 940,731 shares of the oil and gas producer's stock after selling 608,879 shares during the period. Canoe Financial LP's holdings in Canadian Natural Resources were worth $29,024,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the company. Rhumbline Advisers increased its stake in shares of Canadian Natural Resources by 83.4% in the second quarter. Rhumbline Advisers now owns 4,709 shares of the oil and gas producer's stock worth $168,000 after purchasing an additional 2,141 shares during the period. American Century Companies Inc. grew its holdings in Canadian Natural Resources by 101.3% in the 2nd quarter. American Century Companies Inc. now owns 675,293 shares of the oil and gas producer's stock valued at $24,054,000 after buying an additional 339,896 shares during the last quarter. Federated Hermes Inc. lifted its holdings in shares of Canadian Natural Resources by 157.4% during the second quarter. Federated Hermes Inc. now owns 8,352 shares of the oil and gas producer's stock worth $297,000 after buying an additional 5,107 shares during the last quarter. Argent Trust Co boosted its position in shares of Canadian Natural Resources by 73.2% in the second quarter. Argent Trust Co now owns 18,492 shares of the oil and gas producer's stock valued at $658,000 after acquiring an additional 7,816 shares during the period. Finally, Mercer Global Advisors Inc. ADV grew its stake in shares of Canadian Natural Resources by 128.9% in the second quarter. Mercer Global Advisors Inc. ADV now owns 13,230 shares of the oil and gas producer's stock worth $471,000 after acquiring an additional 7,449 shares during the last quarter. Institutional investors own 74.03% of the company's stock.

Canadian Natural Resources Stock Performance

Shares of CNQ stock traded up $0.31 during mid-day trading on Friday, reaching $31.11. The stock had a trading volume of 5,819,543 shares, compared to its average volume of 3,709,238. Canadian Natural Resources Limited has a one year low of $29.23 and a one year high of $41.29. The firm has a market cap of $65.44 billion, a PE ratio of 12.08 and a beta of 1.46. The firm's 50 day simple moving average is $32.18 and its 200 day simple moving average is $34.00. The company has a quick ratio of 0.53, a current ratio of 0.84 and a debt-to-equity ratio of 0.21.

Canadian Natural Resources (NYSE:CNQ - Get Free Report) TSE: CNQ last issued its earnings results on Thursday, October 31st. The oil and gas producer reported $0.97 earnings per share for the quarter, beating the consensus estimate of $0.67 by $0.30. Canadian Natural Resources had a net margin of 18.45% and a return on equity of 20.07%. The business had revenue of $7.62 billion for the quarter, compared to analyst estimates of $6.40 billion. During the same period in the previous year, the business earned $0.96 EPS. On average, analysts forecast that Canadian Natural Resources Limited will post 2.42 EPS for the current year.

Analysts Set New Price Targets

Separately, Desjardins upgraded shares of Canadian Natural Resources from a "hold" rating to a "moderate buy" rating in a research note on Tuesday, October 8th. Four investment analysts have rated the stock with a hold rating, Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold".

Canadian Natural Resources Profile

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