First Manhattan CO. LLC. Has $48.02 Million Position in Canadian Natural Resources Limited $CNQ

First Manhattan CO. LLC. lessened its holdings in Canadian Natural Resources Limited (NYSE:CNQ) (TSE:CNQ) by 3.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,401,603 shares of the oil and gas producer’s stock after selling 48,221 shares during the period. First Manhattan CO. LLC.’s holdings in Canadian Natural Resources were worth $48,023,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of CNQ. Capital Research Global Investors lifted its stake in shares of Canadian Natural Resources by 31.5% in the 4th quarter. Capital Research Global Investors now owns 146,331,336 shares of the oil and gas producer’s stock valued at $4,956,204,000 after purchasing an additional 35,067,143 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its stake in shares of Canadian Natural Resources by 179.2% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 11,616,347 shares of the oil and gas producer’s stock valued at $393,213,000 after purchasing an additional 7,455,286 shares during the last quarter. AQR Capital Management LLC lifted its stake in shares of Canadian Natural Resources by 11,020.4% in the 4th quarter. AQR Capital Management LLC now owns 3,680,735 shares of the oil and gas producer’s stock valued at $124,672,000 after purchasing an additional 3,647,636 shares during the last quarter. BCV Asset Management Inc. acquired a new stake in shares of Canadian Natural Resources in the 4th quarter valued at $84,309,000. Finally, Alberta Investment Management Corp acquired a new stake in shares of Canadian Natural Resources in the 4th quarter valued at $68,608,000. Institutional investors and hedge funds own 74.03% of the company’s stock.

Analyst Ratings Changes

CNQ has been the subject of several analyst reports. Zacks Research lowered shares of Canadian Natural Resources from a “strong-buy” rating to a “hold” rating in a research note on Monday, June 8th. Scotiabank reaffirmed an “outperform” rating on shares of Canadian Natural Resources in a research note on Wednesday, May 20th. Royal Bank Of Canada lifted their price objective on shares of Canadian Natural Resources from $61.00 to $65.00 and gave the company an “outperform” rating in a research note on Friday, March 6th. Weiss Ratings lowered shares of Canadian Natural Resources from a “buy (b)” rating to a “buy (b-)” rating in a research note on Monday, May 11th. Finally, The Goldman Sachs Group lifted their price objective on shares of Canadian Natural Resources from $37.00 to $49.00 and gave the company a “buy” rating in a research note on Thursday, March 12th. Seven investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat.com, Canadian Natural Resources currently has a consensus rating of “Moderate Buy” and an average price target of $57.00.

Canadian Natural Resources Stock Performance

Shares of CNQ opened at $42.34 on Thursday. The company has a market capitalization of $88.13 billion, a PE ratio of 12.64 and a beta of 0.45. Canadian Natural Resources Limited has a one year low of $29.30 and a one year high of $51.34. The company has a debt-to-equity ratio of 0.37, a current ratio of 0.98 and a quick ratio of 0.68. The company’s fifty day moving average price is $46.19 and its 200 day moving average price is $41.64.

Canadian Natural Resources (NYSE:CNQ) (TSE:CNQ) last announced its earnings results on Thursday, May 7th. The oil and gas producer reported $0.85 EPS for the quarter, topping the consensus estimate of $0.74 by $0.11. The firm had revenue of $7.72 billion for the quarter, compared to the consensus estimate 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 firm posted $1.16 EPS. As a group, analysts expect that Canadian Natural Resources Limited will post 4.2 earnings per share for the current year.

Canadian Natural Resources Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 7th. Investors of record on Tuesday, June 23rd will be issued a $0.625 dividend. This represents a $2.50 annualized dividend and a yield of 5.9%. The ex-dividend date is Tuesday, June 23rd. Canadian Natural Resources’s dividend payout ratio (DPR) is 54.03%.

Canadian Natural Resources Company 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.