Burgundy Asset Management Ltd. Has $897,000 Stake in Canadian Natural Resources Limited (NYSE:CNQ)

Burgundy Asset Management Ltd. trimmed its stake in shares of Canadian Natural Resources Limited (NYSE:CNQ) (TSE:CNQ) by 15.8% during the second quarter, Holdings Channel.com reports. The firm owned 25,182 shares of the oil and gas producer’s stock after selling 4,726 shares during the period. Burgundy Asset Management Ltd.’s holdings in Canadian Natural Resources were worth $897,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Capital Wealth Planning LLC lifted its position in shares of Canadian Natural Resources by 228.5% during the second quarter. Capital Wealth Planning LLC now owns 91,652 shares of the oil and gas producer’s stock worth $3,263,000 after purchasing an additional 63,756 shares in the last quarter. JBF Capital Inc. lifted its position in shares of Canadian Natural Resources by 101.1% during the second quarter. JBF Capital Inc. now owns 512,198 shares of the oil and gas producer’s stock worth $18,234,000 after purchasing an additional 257,549 shares in the last quarter. Choreo LLC acquired a new position in shares of Canadian Natural Resources during the second quarter worth approximately $746,000. Pacific Heights Asset Management LLC lifted its position in shares of Canadian Natural Resources by 100.0% during the second quarter. Pacific Heights Asset Management LLC now owns 320,000 shares of the oil and gas producer’s stock worth $11,392,000 after purchasing an additional 160,000 shares in the last quarter. Finally, Old West Investment Management LLC lifted its position in shares of Canadian Natural Resources by 116.3% during the second quarter. Old West Investment Management LLC now owns 204,746 shares of the oil and gas producer’s stock worth $7,289,000 after purchasing an additional 110,096 shares in the last quarter. 74.03% of the stock is currently owned by institutional investors and hedge funds.

Canadian Natural Resources Price Performance

Shares of NYSE CNQ opened at $32.86 on Thursday. The business’s 50 day moving average price is $34.89 and its two-hundred day moving average price is $36.44. The company has a market cap of $69.92 billion, a PE ratio of 13.09 and a beta of 1.51. The company has a quick ratio of 0.59, a current ratio of 0.88 and a debt-to-equity ratio of 0.24. Canadian Natural Resources Limited has a twelve month low of $29.45 and a twelve month high of $41.29.

Canadian Natural Resources (NYSE:CNQ) (TSE:CNQ) last announced its quarterly earnings results on Thursday, August 1st. The oil and gas producer reported $0.88 earnings per share for the quarter, topping analysts’ consensus estimates of $0.62 by $0.26. Canadian Natural Resources had a return on equity of 22.09% and a net margin of 18.05%. The firm had revenue of $7.76 billion for the quarter, compared to the consensus estimate of $6.19 billion. During the same quarter in the previous year, the business earned $0.43 earnings per share. On average, analysts predict that Canadian Natural Resources Limited will post 2.49 EPS for the current year.

Canadian Natural Resources Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, October 4th. Stockholders of record on Friday, September 13th will be given a $0.384 dividend. This represents a $1.54 annualized dividend and a dividend yield of 4.67%. The ex-dividend date is Friday, September 13th. Canadian Natural Resources’s payout ratio is 61.75%.

Wall Street Analyst Weigh In

CNQ has been the topic of a number of recent research reports. Wolfe Research initiated coverage on shares of Canadian Natural Resources in a research note on Thursday, July 18th. They issued a “peer perform” rating on the stock. StockNews.com lowered shares of Canadian Natural Resources from a “buy” rating to a “hold” rating in a report on Friday, August 23rd. Scotiabank restated a “sector perform” rating on shares of Canadian Natural Resources in a report on Tuesday, June 11th. Finally, Raymond James upgraded shares of Canadian Natural Resources to a “hold” rating in a report on Tuesday, May 28th. Six equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat.com, Canadian Natural Resources presently has a consensus rating of “Hold” and a consensus target price of $49.50.

About Canadian Natural Resources

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).