Gold Investment Management Ltd. Sells 17,826 Shares of Canadian Natural Resources Limited (NYSE:CNQ)

Gold Investment Management Ltd. lessened its stake in shares of Canadian Natural Resources Limited (NYSE:CNQ) (TSE:CNQ) by 16.8% during the third quarter, according to the company in its most recent disclosure with the SEC. The fund owned 88,069 shares of the oil and gas producer’s stock after selling 17,826 shares during the quarter. Canadian Natural Resources makes up 1.2% of Gold Investment Management Ltd.’s holdings, making the stock its 28th biggest holding. Gold Investment Management Ltd.’s holdings in Canadian Natural Resources were worth $2,925,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently modified their holdings of CNQ. Park Place Capital Corp grew its stake in shares of Canadian Natural Resources by 100.0% during the second quarter. Park Place Capital Corp now owns 716 shares of the oil and gas producer’s stock worth $25,000 after buying an additional 358 shares during the last quarter. RFP Financial Group LLC grew its stake in shares of Canadian Natural Resources by 98.3% during the second quarter. RFP Financial Group LLC now owns 710 shares of the oil and gas producer’s stock worth $25,000 after buying an additional 352 shares during the last quarter. Sugarloaf Wealth Management LLC grew its stake in shares of Canadian Natural Resources by 100.0% in 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 during the last quarter. Bruce G. Allen Investments LLC lifted its holdings 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 valued at $31,000 after buying an additional 415 shares during the period. Finally, GAMMA Investing LLC lifted its holdings in 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 buying an additional 447 shares during the period. Institutional investors own 74.03% of the company’s stock.

Canadian Natural Resources Trading Down 1.4 %

CNQ opened at $34.34 on Friday. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.84 and a quick ratio of 0.53. Canadian Natural Resources Limited has a fifty-two week low of $29.45 and a fifty-two week high of $41.29. The firm has a market capitalization of $72.58 billion, a PE ratio of 13.55 and a beta of 1.50. The company’s 50-day moving average is $34.59 and its 200 day moving average is $35.70.

Canadian Natural Resources (NYSE:CNQ) (TSE:CNQ) last posted its earnings results on Thursday, October 31st. The oil and gas producer reported $0.97 earnings per share for the quarter, topping analysts’ consensus estimates of $0.67 by $0.30. Canadian Natural Resources had a net margin of 18.45% and a return on equity of 20.07%. The company had revenue of $7.62 billion for the quarter, compared to analyst estimates of $6.40 billion. During the same quarter in the prior year, the business posted $0.96 EPS. As a group, research analysts predict that Canadian Natural Resources Limited will post 2.38 earnings per share for the current fiscal year.

Canadian Natural Resources Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 3rd. Shareholders of record on Friday, December 13th will be given a $0.388 dividend. This represents a $1.55 dividend on an annualized basis and a yield of 4.52%. This is an increase from Canadian Natural Resources’s previous quarterly dividend of $0.38. The ex-dividend date is Friday, December 13th. Canadian Natural Resources’s dividend payout ratio is presently 64.59%.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on CNQ. StockNews.com lowered shares of Canadian Natural Resources from a “buy” rating to a “hold” rating in a report on Friday, August 23rd. Desjardins upgraded shares of Canadian Natural Resources from a “hold” rating to a “moderate buy” rating in a report on Tuesday, October 8th. Finally, 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. Five analysts have rated the stock with a hold rating, Based on data from MarketBeat, Canadian Natural Resources currently 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).