OMERS ADMINISTRATION Corp Sells 633,900 Shares of Canadian Natural Resources Limited $CNQ

OMERS ADMINISTRATION Corp cut its stake in Canadian Natural Resources Limited (NYSE:CNQ) (TSE:CNQ) by 90.6% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 66,100 shares of the oil and gas producer’s stock after selling 633,900 shares during the quarter. OMERS ADMINISTRATION Corp’s holdings in Canadian Natural Resources were worth $3,214,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the stock. Personal CFO Solutions LLC boosted its holdings in shares of Canadian Natural Resources by 1.7% during the 1st quarter. Personal CFO Solutions LLC now owns 15,199 shares of the oil and gas producer’s stock worth $747,000 after buying an additional 251 shares during the period. Ted Buchan & Co raised its holdings in Canadian Natural Resources by 0.6% in the 4th quarter. Ted Buchan & Co now owns 43,814 shares of the oil and gas producer’s stock valued at $1,483,000 after acquiring an additional 260 shares during the period. FDx Advisors Inc. lifted its position in Canadian Natural Resources by 2.7% during the fourth quarter. FDx Advisors Inc. now owns 10,312 shares of the oil and gas producer’s stock worth $349,000 after acquiring an additional 270 shares during the last quarter. Peak Financial Advisors LLC boosted its holdings in shares of Canadian Natural Resources by 0.3% during the first quarter. Peak Financial Advisors LLC now owns 93,840 shares of the oil and gas producer’s stock worth $4,573,000 after acquiring an additional 290 shares during the period. Finally, Ritholtz Wealth Management boosted its holdings in shares of Canadian Natural Resources by 0.9% during the first quarter. Ritholtz Wealth Management now owns 32,763 shares of the oil and gas producer’s stock worth $1,597,000 after acquiring an additional 301 shares during the period. Institutional investors and hedge funds own 74.03% of the company’s stock.

Canadian Natural Resources Price Performance

Shares of NYSE:CNQ opened at $44.76 on Tuesday. The firm has a 50 day moving average of $43.88 and a 200-day moving average of $43.37. Canadian Natural Resources Limited has a 12 month low of $29.30 and a 12 month high of $51.34. The company has a current ratio of 0.98, a quick ratio of 0.68 and a debt-to-equity ratio of 0.37. The stock has a market capitalization of $92.90 billion, a PE ratio of 13.36 and a beta of 0.47.

Canadian Natural Resources (NYSE:CNQ) (TSE:CNQ) last posted its quarterly earnings results on Thursday, May 7th. The oil and gas producer reported $0.85 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.74 by $0.11. The business had revenue of $7.72 billion for the quarter, compared to analyst estimates of $7.57 billion. Canadian Natural Resources had a net margin of 22.04% and a return on equity of 17.49%. During the same quarter last year, the business posted $1.16 EPS. On average, equities research analysts predict that Canadian Natural Resources Limited will post 3.89 EPS for the current fiscal year.

Canadian Natural Resources Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, July 7th. Shareholders of record on Tuesday, June 23rd were paid a dividend of $0.625 per share. The ex-dividend date was Tuesday, June 23rd. This represents a $2.50 annualized dividend and a yield of 5.6%. Canadian Natural Resources’s dividend payout ratio is presently 54.03%.

Analyst Upgrades and Downgrades

Several research firms have recently commented on CNQ. Weiss Ratings downgraded Canadian Natural Resources from a “buy (b)” rating to a “buy (b-)” rating in a research report on Monday, May 11th. Scotiabank raised Canadian Natural Resources to a “hold” rating in a report on Friday, June 26th. Raymond James Financial upgraded Canadian Natural Resources from a “market perform” rating to an “outperform” rating in a research note on Thursday, May 7th. Desjardins raised Canadian Natural Resources to a “hold” rating in a report on Thursday, July 16th. Finally, Zacks Research upgraded Canadian Natural Resources from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, July 21st. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $57.00.

Canadian Natural Resources 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.