Carnegie Investment Counsel Sells 12,766 Shares of Canadian Natural Resources Limited (NYSE:CNQ)

Carnegie Investment Counsel lowered its position in Canadian Natural Resources Limited (NYSE:CNQ) (TSE:CNQ) by 14.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 75,650 shares of the oil and gas producer’s stock after selling 12,766 shares during the quarter. Carnegie Investment Counsel’s holdings in Canadian Natural Resources were worth $2,335,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Fisher Asset Management LLC lifted its holdings in shares of Canadian Natural Resources by 3.9% in the 3rd quarter. Fisher Asset Management LLC now owns 43,581,024 shares of the oil and gas producer’s stock worth $1,447,326,000 after buying an additional 1,651,452 shares during the period. Canada Pension Plan Investment Board lifted its stake in Canadian Natural Resources by 93.0% in the second quarter. Canada Pension Plan Investment Board now owns 41,464,502 shares of the oil and gas producer’s stock worth $1,476,644,000 after acquiring an additional 19,980,902 shares during the period. 1832 Asset Management L.P. grew its holdings in Canadian Natural Resources by 105.3% during the 2nd quarter. 1832 Asset Management L.P. now owns 31,668,045 shares of the oil and gas producer’s stock worth $1,127,382,000 after acquiring an additional 16,245,046 shares in the last quarter. Mackenzie Financial Corp increased its position in Canadian Natural Resources by 90.3% during the 2nd quarter. Mackenzie Financial Corp now owns 30,017,414 shares of the oil and gas producer’s stock valued at $1,069,338,000 after purchasing an additional 14,246,978 shares during the period. Finally, The Manufacturers Life Insurance Company raised its holdings in shares of Canadian Natural Resources by 5.1% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 28,468,127 shares of the oil and gas producer’s stock valued at $945,965,000 after purchasing an additional 1,383,478 shares in the last quarter. 74.03% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Separately, Desjardins upgraded shares of Canadian Natural Resources from a “hold” rating to a “moderate buy” rating in a research note on Tuesday, October 8th. Four investment analysts have rated the stock with a hold rating, According to data from MarketBeat.com, Canadian Natural Resources currently has a consensus rating of “Hold”.

Canadian Natural Resources Stock Performance

Shares of Canadian Natural Resources stock opened at $31.11 on Friday. The company has a market capitalization of $65.44 billion, a PE ratio of 12.08 and a beta of 1.46. The company has a 50-day simple moving average of $32.24 and a two-hundred day simple moving average of $34.05. Canadian Natural Resources Limited has a one year low of $29.23 and a one year high of $41.29. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.53 and a current ratio of 0.84.

Canadian Natural Resources (NYSE:CNQ) (TSE:CNQ) last posted its quarterly earnings data on Thursday, October 31st. The oil and gas producer reported $0.97 EPS for the quarter, topping the consensus estimate 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 firm had revenue of $7.62 billion during the quarter, compared to analyst estimates of $6.40 billion. During the same quarter in the previous year, the business posted $0.96 EPS. Research analysts expect that Canadian Natural Resources Limited will post 2.42 EPS for the current fiscal year.

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).