NewEdge Advisors LLC Sells 13,189 Shares of Canadian Natural Resources Limited $CNQ

NewEdge Advisors LLC reduced its stake in Canadian Natural Resources Limited (NYSE:CNQ) (TSE:CNQ) by 16.2% during the 1st quarter, HoldingsChannel reports. The fund owned 68,162 shares of the oil and gas producer’s stock after selling 13,189 shares during the quarter. NewEdge Advisors LLC’s holdings in Canadian Natural Resources were worth $33,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. TD Waterhouse Canada Inc. boosted its holdings in Canadian Natural Resources by 4.9% during the fourth quarter. TD Waterhouse Canada Inc. now owns 6,758,445 shares of the oil and gas producer’s stock worth $228,729,000 after purchasing an additional 315,460 shares during the last quarter. Barometer Capital Management Inc. bought a new stake in Canadian Natural Resources during the 1st quarter worth about $6,198,000. WCM Investment Management LLC lifted its position in Canadian Natural Resources by 22.4% during the 1st quarter. WCM Investment Management LLC now owns 5,122,209 shares of the oil and gas producer’s stock worth $252,883,000 after buying an additional 938,210 shares in the last quarter. Novem Group acquired a new position in shares of Canadian Natural Resources during the 4th quarter worth about $1,270,000. Finally, Bleakley Financial Group LLC boosted its stake in shares of Canadian Natural Resources by 59.8% during the 4th quarter. Bleakley Financial Group LLC now owns 78,161 shares of the oil and gas producer’s stock worth $2,646,000 after buying an additional 29,249 shares during the last quarter. 74.03% of the stock is owned by institutional investors and hedge funds.

Canadian Natural Resources Stock Down 2.9%

Shares of CNQ stock opened at $44.85 on Thursday. Canadian Natural Resources Limited has a 52-week low of $29.30 and a 52-week high of $51.34. The stock has a market cap of $92.80 billion, a price-to-earnings ratio of 13.39 and a beta of 0.46. The firm’s 50-day moving average is $43.61 and its 200-day moving average is $44.04. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.68 and a current ratio of 0.98.

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 EPS for the quarter, topping analysts’ consensus estimates of $0.74 by $0.11. The business had revenue of $7.72 billion during the quarter, compared to analysts’ expectations of $7.57 billion. Canadian Natural Resources had a return on equity of 17.49% and a net margin of 22.04%.During the same quarter last year, the company posted $1.16 earnings per share. Sell-side analysts predict that Canadian Natural Resources Limited will post 3.89 EPS for the current year.

Wall Street Analyst Weigh In

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