Burgundy Asset Management Ltd. Sells 4,726 Shares of Canadian Natural Resources Limited (NYSE:CNQ)

Burgundy Asset Management Ltd. lessened its position in Canadian Natural Resources Limited (NYSE:CNQ) (TSE:CNQ) by 15.8% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 25,182 shares of the oil and gas producer’s stock after selling 4,726 shares during the quarter. Burgundy Asset Management Ltd.’s holdings in Canadian Natural Resources were worth $897,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of the company. TD Asset Management Inc increased its holdings in shares of Canadian Natural Resources by 96.2% during the 2nd quarter. TD Asset Management Inc now owns 42,518,833 shares of the oil and gas producer’s stock worth $1,514,190,000 after purchasing an additional 20,843,193 shares during the period. Yacktman Asset Management LP increased its holdings in shares of Canadian Natural Resources by 95.9% during the 2nd quarter. Yacktman Asset Management LP now owns 29,456,746 shares of the oil and gas producer’s stock worth $1,048,660,000 after purchasing an additional 14,418,835 shares during the period. CIBC Asset Management Inc increased its holdings in shares of Canadian Natural Resources by 93.6% during the 2nd quarter. CIBC Asset Management Inc now owns 22,916,027 shares of the oil and gas producer’s stock worth $815,751,000 after purchasing an additional 11,077,189 shares during the period. Capital International Investors increased its holdings in shares of Canadian Natural Resources by 103.3% during the 4th quarter. Capital International Investors now owns 9,819,333 shares of the oil and gas producer’s stock worth $643,348,000 after purchasing an additional 4,989,634 shares during the period. Finally, Healthcare of Ontario Pension Plan Trust Fund bought a new position in shares of Canadian Natural Resources during the 1st quarter worth about $305,258,000. Institutional investors own 74.03% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on CNQ. Wolfe Research began coverage on shares of Canadian Natural Resources in a report on Thursday, July 18th. They set a “peer perform” rating on the stock. Scotiabank restated a “sector perform” rating on shares of Canadian Natural Resources in a report on Tuesday, June 11th. Raymond James raised shares of Canadian Natural Resources to a “hold” rating in a research note on Tuesday, May 28th. Finally, StockNews.com cut shares of Canadian Natural Resources from a “buy” rating to a “hold” rating in a research note on Friday, August 23rd. Six analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat, Canadian Natural Resources presently has a consensus rating of “Hold” and a consensus target price of $49.50.

Canadian Natural Resources Stock Performance

NYSE CNQ opened at $32.86 on Thursday. The stock has a market cap of $69.92 billion, a P/E ratio of 13.09 and a beta of 1.51. The company’s 50-day simple moving average is $34.89 and its 200 day simple moving average is $36.44. Canadian Natural Resources Limited has a twelve month low of $29.45 and a twelve month high of $41.29. The company has a quick ratio of 0.59, a current ratio of 0.88 and a debt-to-equity ratio of 0.24.

Canadian Natural Resources (NYSE:CNQ) (TSE:CNQ) last released its quarterly earnings results on Thursday, August 1st. The oil and gas producer reported $0.88 EPS for the quarter, beating analysts’ consensus estimates of $0.62 by $0.26. The firm had revenue of $7.76 billion for the quarter, compared to analyst estimates of $6.19 billion. Canadian Natural Resources had a net margin of 18.05% and a return on equity of 22.09%. During the same period in the previous year, the business earned $0.43 earnings per share. As a group, research analysts forecast that Canadian Natural Resources Limited will post 2.49 earnings per share for the current fiscal year.

Canadian Natural Resources Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, October 4th. Shareholders of record on Friday, September 13th will be given a $0.384 dividend. The ex-dividend date is Friday, September 13th. This represents a $1.54 dividend on an annualized basis and a yield of 4.67%. Canadian Natural Resources’s dividend payout ratio (DPR) is presently 61.75%.

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).