Candriam Luxembourg S.C.A. cut its stake in shares of Canadian Natural Resources Limited (NYSE:CNQ) (TSE:CNQ) by 6.6% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 67,313 shares of the oil and gas producer’s stock after selling 4,737 shares during the period. Candriam Luxembourg S.C.A.’s holdings in Canadian Natural Resources Limited were worth $1,940,000 as of its most recent filing with the SEC.

Several other large investors also recently added to or reduced their stakes in CNQ. Vanguard Group Inc. increased its stake in Canadian Natural Resources Limited by 5.5% in the first quarter. Vanguard Group Inc. now owns 25,644,738 shares of the oil and gas producer’s stock valued at $840,890,000 after buying an additional 1,347,742 shares during the last quarter. TD Asset Management Inc. increased its stake in Canadian Natural Resources Limited by 7.6% in the first quarter. TD Asset Management Inc. now owns 21,936,942 shares of the oil and gas producer’s stock valued at $716,181,000 after buying an additional 1,546,425 shares during the last quarter. Wellington Management Group LLP increased its stake in Canadian Natural Resources Limited by 3.8% in the first quarter. Wellington Management Group LLP now owns 19,412,912 shares of the oil and gas producer’s stock valued at $636,256,000 after buying an additional 703,575 shares during the last quarter. CIBC Asset Management Inc increased its stake in Canadian Natural Resources Limited by 11.9% in the second quarter. CIBC Asset Management Inc now owns 16,749,799 shares of the oil and gas producer’s stock valued at $482,767,000 after buying an additional 1,780,934 shares during the last quarter. Finally, Great West Life Assurance Co. Can increased its stake in Canadian Natural Resources Limited by 11.5% in the first quarter. Great West Life Assurance Co. Can now owns 8,863,863 shares of the oil and gas producer’s stock valued at $290,083,000 after buying an additional 913,220 shares during the last quarter. 60.72% of the stock is owned by institutional investors.

Shares of Canadian Natural Resources Limited (NYSE CNQ) opened at 31.31 on Friday. The firm has a market cap of $38.05 billion, a P/E ratio of 28.21 and a beta of 1.48. Canadian Natural Resources Limited has a 12-month low of $27.52 and a 12-month high of $35.28. The stock’s 50 day moving average price is $29.94 and its 200-day moving average price is $30.63.

Canadian Natural Resources Limited declared that its Board of Directors has approved a share repurchase plan on Wednesday, May 17th that permits the company to buyback 27,930,000 outstanding shares. This buyback authorization permits the oil and gas producer to reacquire shares of its stock through open market purchases. Shares buyback plans are often a sign that the company’s board of directors believes its shares are undervalued.

The company also recently declared a quarterly dividend, which will be paid on Sunday, October 1st. Stockholders of record on Friday, September 15th will be given a dividend of $0.2212 per share. This represents a $0.88 dividend on an annualized basis and a dividend yield of 2.83%. The ex-dividend date is Thursday, September 14th. This is a boost from Canadian Natural Resources Limited’s previous quarterly dividend of $0.20. Canadian Natural Resources Limited’s dividend payout ratio is currently 78.43%.

TRADEMARK VIOLATION NOTICE: “Canadian Natural Resources Limited (NYSE:CNQ) Position Lowered by Candriam Luxembourg S.C.A.” was originally posted by Watch List News and is the property of of Watch List News. If you are viewing this piece on another site, it was illegally copied and republished in violation of United States and international copyright & trademark law. The correct version of this piece can be viewed at https://www.watchlistnews.com/canadian-natural-resources-limited-nysecnq-position-lowered-by-candriam-luxembourg-s-c-a/1472859.html.

Several equities research analysts have issued reports on CNQ shares. National Bank Financial started coverage on Canadian Natural Resources Limited in a report on Tuesday, June 27th. They set an “outperform” rating for the company. Goldman Sachs Group, Inc. (The) reaffirmed a “buy” rating and set a $36.00 price target on shares of Canadian Natural Resources Limited in a report on Thursday, June 22nd. ValuEngine raised Canadian Natural Resources Limited from a “sell” rating to a “hold” rating in a report on Wednesday, July 12th. Zacks Investment Research downgraded Canadian Natural Resources Limited from a “hold” rating to a “sell” rating in a report on Tuesday. Finally, Morgan Stanley raised Canadian Natural Resources Limited from an “equal weight” rating to an “overweight” rating and set a $46.00 price target for the company in a report on Wednesday, July 19th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $45.50.

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.

Want to see what other hedge funds are holding CNQ? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Canadian Natural Resources Limited (NYSE:CNQ) (TSE:CNQ).

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

Receive News & Ratings for Canadian Natural Resources Limited Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Canadian Natural Resources Limited and related companies with Analyst Ratings Network's FREE daily email newsletter.