Canadian Natural Resources Limited $CNQ Stake Decreased by NewEdge Advisors LLC

NewEdge Advisors LLC trimmed its holdings in Canadian Natural Resources Limited (NYSE:CNQ) (TSE:CNQ) by 16.2% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor 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 at the end of the most recent reporting period.

A number of other institutional investors also recently added to or reduced their stakes in the business. Sunbelt Securities Inc. bought a new stake in shares of Canadian Natural Resources during the fourth quarter valued at about $25,000. Manchester Capital Management LLC bought a new stake in shares of Canadian Natural Resources during the 4th quarter worth about $28,000. Leonteq Securities AG acquired a new stake in shares of Canadian Natural Resources in the 4th quarter worth approximately $31,000. Quarry LP bought a new position in shares of Canadian Natural Resources in the third quarter valued at approximately $32,000. Finally, LOM Asset Management Ltd acquired a new position in shares of Canadian Natural Resources during the fourth quarter valued at approximately $34,000. Institutional investors and hedge funds own 74.03% of the company’s stock.

Canadian Natural Resources Trading Down 2.9%

NYSE:CNQ opened at $44.85 on Thursday. The company has a market capitalization of $92.80 billion, a P/E ratio of 13.39 and a beta of 0.46. The stock’s 50 day moving average price is $43.61 and its 200 day moving average price 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 Limited has a 52 week low of $29.30 and a 52 week high of $51.34.

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 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.74 by $0.11. The firm had revenue of $7.72 billion during the quarter, compared to analyst estimates 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 in the prior year, the business posted $1.16 earnings per share. On average, research analysts forecast that Canadian Natural Resources Limited will post 3.89 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on CNQ. Scotiabank upgraded Canadian Natural Resources to a “hold” rating in a research report on Friday, June 26th. Weiss Ratings cut Canadian Natural Resources from a “buy (b)” rating to a “buy (b-)” rating in a research note on Monday, May 11th. Zacks Research upgraded shares of Canadian Natural Resources from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, July 21st. Desjardins raised shares of Canadian Natural Resources to a “hold” rating in a research note on Thursday, July 16th. Finally, Raymond James Financial raised shares of Canadian Natural Resources from a “market perform” rating to an “outperform” rating in a research note on Thursday, May 7th. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus 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.