Connor Clark & Lunn Investment Management Ltd. Decreases Stake in Canadian Natural Resources Limited (NYSE:CNQ)

Connor Clark & Lunn Investment Management Ltd. lessened its holdings in shares of Canadian Natural Resources Limited (NYSE:CNQ - Free Report) TSE: CNQ by 15.7% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 10,209,249 shares of the oil and gas producer's stock after selling 1,896,860 shares during the quarter. Canadian Natural Resources accounts for approximately 1.6% of Connor Clark & Lunn Investment Management Ltd.'s portfolio, making the stock its 13th largest position. Connor Clark & Lunn Investment Management Ltd. owned about 0.48% of Canadian Natural Resources worth $338,971,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. RFP Financial Group LLC raised its position in Canadian Natural Resources by 98.3% in the 2nd quarter. RFP Financial Group LLC now owns 710 shares of the oil and gas producer's stock worth $25,000 after purchasing an additional 352 shares during the period. Park Place Capital Corp increased its stake in shares of Canadian Natural Resources by 100.0% in the 2nd quarter. Park Place Capital Corp now owns 716 shares of the oil and gas producer's stock worth $25,000 after purchasing an additional 358 shares in the last quarter. Sugarloaf Wealth Management LLC grew its position in shares of Canadian Natural Resources by 100.0% during the second quarter. Sugarloaf Wealth Management LLC now owns 728 shares of the oil and gas producer's stock worth $26,000 after purchasing an additional 364 shares in the last quarter. Bruce G. Allen Investments LLC lifted its position in Canadian Natural Resources by 91.6% in the second quarter. Bruce G. Allen Investments LLC now owns 868 shares of the oil and gas producer's stock worth $31,000 after buying an additional 415 shares during the last quarter. Finally, GAMMA Investing LLC boosted its holdings in shares of Canadian Natural Resources by 104.7% in the second quarter. GAMMA Investing LLC now owns 874 shares of the oil and gas producer's stock valued at $31,000 after purchasing an additional 447 shares during the period. Institutional investors own 74.03% of the company's stock.

Canadian Natural Resources Stock Performance

NYSE:CNQ traded up $0.11 during mid-day trading on Wednesday, hitting $33.78. The stock had a trading volume of 2,145,614 shares, compared to its average volume of 5,299,174. The stock has a market cap of $71.29 billion, a price-to-earnings ratio of 13.10 and a beta of 1.50. The company's 50 day simple moving average is $34.46 and its 200 day simple moving average is $35.41. Canadian Natural Resources Limited has a twelve month low of $29.45 and a twelve month high of $41.29. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.53 and a current ratio of 0.84.

Canadian Natural Resources (NYSE:CNQ - Get Free Report) TSE: CNQ last posted its earnings results on Thursday, October 31st. The oil and gas producer reported $0.97 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.67 by $0.30. The firm had revenue of $7.62 billion during the quarter, compared to analyst estimates of $6.40 billion. Canadian Natural Resources had a net margin of 18.45% and a return on equity of 20.07%. During the same quarter in the prior year, the business posted $0.96 EPS. On average, equities research analysts forecast that Canadian Natural Resources Limited will post 2.44 earnings per share for the current year.

Canadian Natural Resources Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 3rd. Investors of record on Friday, December 13th will be issued a $0.388 dividend. The ex-dividend date of this dividend is Friday, December 13th. This is a positive change from Canadian Natural Resources's previous quarterly dividend of $0.38. This represents a $1.55 dividend on an annualized basis and a dividend yield of 4.59%. Canadian Natural Resources's dividend payout ratio (DPR) is 64.59%.

Analyst Ratings Changes

A number of brokerages have recently issued reports on CNQ. StockNews.com lowered Canadian Natural Resources from a "buy" rating to a "hold" rating in a research report on Friday, August 23rd. Desjardins raised shares of Canadian Natural Resources from a "hold" rating to a "moderate buy" rating in a report on Tuesday, October 8th. Five research analysts have rated the stock with a hold rating, Based on data from MarketBeat.com, Canadian Natural Resources presently has an average rating of "Hold" and an average price target of $51.00.

Canadian Natural Resources Company 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).