Capital International Investors Sells 858,657 Shares of Canadian Natural Resources Limited (CNQ)

Capital International Investors lowered its holdings in Canadian Natural Resources Limited (NYSE:CNQ) (TSE:CNQ) by 20.0% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 3,423,998 shares of the oil and gas producer’s stock after selling 858,657 shares during the quarter. Capital International Investors owned about 0.28% of Canadian Natural Resources Limited worth $98,802,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of CNQ. Capital World Investors grew its position in Canadian Natural Resources Limited by 6.0% in the 2nd quarter. Capital World Investors now owns 36,065,983 shares of the oil and gas producer’s stock valued at $1,040,707,000 after purchasing an additional 2,042,846 shares during the period. Ameriprise Financial Inc. raised its holdings in Canadian Natural Resources Limited by 26.2% during the second quarter. Ameriprise Financial Inc. now owns 9,762,039 shares of the oil and gas producer’s stock worth $281,539,000 after buying an additional 2,025,045 shares during the last quarter. CIBC Asset Management Inc raised its holdings in Canadian Natural Resources Limited by 11.9% during the second quarter. CIBC Asset Management Inc now owns 16,749,799 shares of the oil and gas producer’s stock worth $482,767,000 after buying an additional 1,780,934 shares during the last quarter. Bank of America Corp DE raised its holdings in Canadian Natural Resources Limited by 67.1% during the first quarter. Bank of America Corp DE now owns 4,185,146 shares of the oil and gas producer’s stock worth $137,231,000 after buying an additional 1,681,125 shares during the last quarter. Finally, Vanguard Group Inc. raised its holdings in Canadian Natural Resources Limited by 5.5% during the first quarter. Vanguard Group Inc. now owns 25,644,738 shares of the oil and gas producer’s stock worth $840,890,000 after buying an additional 1,347,742 shares during the last quarter. 58.56% of the stock is owned by institutional investors and hedge funds.

A number of research analysts have recently issued reports on CNQ shares. Zacks Investment Research cut shares of Canadian Natural Resources Limited from a “hold” rating to a “sell” rating in a report on Tuesday, August 8th. Canaccord Genuity reissued a “buy” rating and set a $47.00 target price on shares of Canadian Natural Resources Limited in a research report on Tuesday, September 5th. Citigroup Inc. lowered shares of Canadian Natural Resources Limited from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $40.00 to $33.00 in a report on Friday, July 21st. They noted that the move was a valuation call. Morgan Stanley upgraded shares of Canadian Natural Resources Limited from an “equal weight” rating to an “overweight” rating and set a $46.00 target price on the stock in a report on Wednesday, July 19th. Finally, BidaskClub raised shares of Canadian Natural Resources Limited from a “strong sell” rating to a “sell” rating in a research report on Friday, June 30th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average price target of $46.18.

Canadian Natural Resources Limited (CNQ) traded up 0.21% during midday trading on Wednesday, reaching $33.91. 242,027 shares of the company’s stock traded hands. The firm’s 50-day moving average is $32.25 and its 200 day moving average is $31.13. Canadian Natural Resources Limited has a 52-week low of $27.52 and a 52-week high of $35.28. The firm has a market cap of $41.21 billion, a PE ratio of 29.62 and a beta of 1.47.

The business also recently announced a quarterly dividend, which was paid on Sunday, October 1st. Shareholders of record on Friday, September 15th were issued a $0.2212 dividend. This represents a $0.88 annualized dividend and a yield of 2.61%. This is an increase from Canadian Natural Resources Limited’s previous quarterly dividend of $0.20. The ex-dividend date was Thursday, September 14th. Canadian Natural Resources Limited’s payout ratio is 86.28%.

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About Canadian Natural Resources Limited

Canadian Natural Resources Limited is an independent crude oil and natural gas exploration, development and production company. The Company’s segments include Exploration and Production, Oil Sands Mining and Upgrading, and Midstream. The Exploration and Production segment includes exploration, development, production and marketing of crude oil, natural gas liquids (NGLs) and natural gas.

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Institutional Ownership by Quarter for Canadian Natural Resources Limited (NYSE:CNQ)

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