Wellington Management Group LLP Sells 2,872,892 Shares of Canadian Natural Resources Limited (NYSE:CNQ)

Wellington Management Group LLP lowered its stake in shares of Canadian Natural Resources Limited (NYSE:CNQ) (TSE:CNQ) by 20.8% during the third quarter, Holdings Channel reports. The fund owned 10,926,205 shares of the oil and gas producer’s stock after selling 2,872,892 shares during the period. Wellington Management Group LLP’s holdings in Canadian Natural Resources were worth $362,884,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. RFP Financial Group LLC boosted its stake in shares of Canadian Natural Resources by 98.3% in the 2nd quarter. RFP Financial Group LLC now owns 710 shares of the oil and gas producer’s stock valued at $25,000 after purchasing an additional 352 shares during the last quarter. GAMMA Investing LLC boosted its stake in shares of Canadian Natural Resources by 104.7% in the 2nd quarter. GAMMA Investing LLC now owns 874 shares of the oil and gas producer’s stock valued at $31,000 after purchasing an additional 447 shares during the last quarter. First Horizon Advisors Inc. boosted its stake in shares of Canadian Natural Resources by 71.2% in the 2nd quarter. First Horizon Advisors Inc. now owns 904 shares of the oil and gas producer’s stock valued at $32,000 after purchasing an additional 376 shares during the last quarter. Coastline Trust Co bought a new position in shares of Canadian Natural Resources in the 3rd quarter valued at about $33,000. Finally, Hexagon Capital Partners LLC boosted its stake in shares of Canadian Natural Resources by 131.9% in the 2nd quarter. Hexagon Capital Partners LLC now owns 1,046 shares of the oil and gas producer’s stock valued at $37,000 after purchasing an additional 595 shares during the last quarter. Institutional investors own 74.03% of the company’s stock.

Canadian Natural Resources Stock Performance

Shares of NYSE:CNQ opened at $32.27 on Friday. The company has a market capitalization of $68.10 billion, a price-to-earnings ratio of 12.53 and a beta of 1.47. The firm’s 50 day simple moving average is $34.62 and its 200 day simple moving average is $35.01. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.84 and a quick ratio of 0.53. Canadian Natural Resources Limited has a fifty-two week low of $29.45 and a fifty-two week high of $41.29.

Canadian Natural Resources (NYSE:CNQ) (TSE:CNQ) last announced its quarterly earnings results on Thursday, October 31st. The oil and gas producer reported $0.97 earnings per share for the quarter, beating analysts’ consensus estimates of $0.67 by $0.30. The business had revenue of $7.62 billion for the quarter, compared to the consensus estimate of $6.40 billion. Canadian Natural Resources had a net margin of 18.45% and a return on equity of 20.07%. During the same period last year, the company posted $0.96 EPS. As a group, sell-side analysts forecast that Canadian Natural Resources Limited will post 2.47 earnings per share for the current year.

Canadian Natural Resources Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, January 3rd. Shareholders of record on Friday, December 13th will be issued a dividend of $0.388 per share. This is an increase from Canadian Natural Resources’s previous quarterly dividend of $0.38. This represents a $1.55 annualized dividend and a yield of 4.81%. The ex-dividend date is Friday, December 13th. Canadian Natural Resources’s dividend payout ratio (DPR) is 60.58%.

Analyst Ratings Changes

Several brokerages have recently issued reports on CNQ. Desjardins raised shares of Canadian Natural Resources from a “hold” rating to a “moderate buy” rating in a research note on Tuesday, October 8th. StockNews.com lowered shares of Canadian Natural Resources from a “buy” rating to a “hold” rating in a research note on Friday, August 23rd. Five investment analysts have rated the stock with a hold rating, Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $51.00.

Canadian Natural Resources 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).