Bleakley Financial Group LLC Cuts Holdings in Canadian Natural Resources Limited (NYSE:CNQ)

Bleakley Financial Group LLC decreased its position in Canadian Natural Resources Limited (NYSE:CNQ) (TSE:CNQ) by 71.1% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 22,770 shares of the oil and gas producer’s stock after selling 56,023 shares during the period. Bleakley Financial Group LLC’s holdings in Canadian Natural Resources were worth $756,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of CNQ. Park Avenue Securities LLC increased its stake in shares of Canadian Natural Resources by 15.2% during the first quarter. Park Avenue Securities LLC now owns 19,855 shares of the oil and gas producer’s stock worth $1,515,000 after purchasing an additional 2,626 shares in the last quarter. Gulf International Bank UK Ltd increased its stake in shares of Canadian Natural Resources by 4.4% during the first quarter. Gulf International Bank UK Ltd now owns 10,729 shares of the oil and gas producer’s stock worth $818,000 after purchasing an additional 452 shares in the last quarter. Richelieu Gestion SA increased its stake in shares of Canadian Natural Resources by 8.0% during the first quarter. Richelieu Gestion SA now owns 31,401 shares of the oil and gas producer’s stock worth $2,397,000 after purchasing an additional 2,316 shares in the last quarter. Eagle Rock Investment Company LLC increased its stake in shares of Canadian Natural Resources by 50.0% during the first quarter. Eagle Rock Investment Company LLC now owns 45,784 shares of the oil and gas producer’s stock worth $3,494,000 after purchasing an additional 15,268 shares in the last quarter. Finally, Graybill Wealth Management LTD. purchased a new stake in shares of Canadian Natural Resources during the first quarter worth about $4,194,000. Hedge funds and other institutional investors own 74.03% of the company’s stock.

Canadian Natural Resources Stock Performance

CNQ opened at $35.71 on Tuesday. The firm has a market capitalization of $75.99 billion, a PE ratio of 14.23 and a beta of 1.50. Canadian Natural Resources Limited has a twelve month low of $29.45 and a twelve month high of $41.29. The firm’s 50-day moving average price is $35.00 and its 200 day moving average price is $36.10. The company has a current ratio of 0.88, a quick ratio of 0.59 and a debt-to-equity ratio of 0.24.

Canadian Natural Resources (NYSE:CNQ) (TSE:CNQ) last posted its quarterly earnings results on Thursday, August 1st. The oil and gas producer reported $0.88 earnings per share for the quarter, topping 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 posted $0.43 earnings per share. As a group, sell-side analysts expect that Canadian Natural Resources Limited will post 2.5 EPS for the current fiscal year.

Canadian Natural Resources Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, January 3rd. Shareholders of record on Friday, December 13th will be issued a $0.388 dividend. This represents a $1.55 annualized dividend and a yield of 4.35%. This is a positive change from Canadian Natural Resources’s previous quarterly dividend of $0.38. The ex-dividend date of this dividend is Friday, December 13th. Canadian Natural Resources’s payout ratio is presently 66.14%.

Analyst Upgrades and Downgrades

CNQ has been the subject of a number of research reports. Wolfe Research initiated coverage on shares of Canadian Natural Resources in a research note on Thursday, July 18th. They set a “peer perform” rating for the company. StockNews.com lowered shares of Canadian Natural Resources from a “buy” rating to a “hold” rating in a research report on Friday, August 23rd. Finally, Desjardins upgraded shares of Canadian Natural Resources from a “hold” rating to a “moderate buy” rating in a research report on Tuesday, October 8th. Five research analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $49.50.

About Canadian Natural Resources

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).