Canadian Natural Resources Limited (NYSE:CNQ) Shares Sold by Hennessy Advisors Inc.

Hennessy Advisors Inc. reduced its position in shares of Canadian Natural Resources Limited (NYSE:CNQ) (TSE:CNQ) by 3.2% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 171,400 shares of the oil and gas producer’s stock after selling 5,600 shares during the quarter. Hennessy Advisors Inc.’s holdings in Canadian Natural Resources were worth $5,291,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Continuum Advisory LLC boosted its stake in Canadian Natural Resources by 144.1% during the third quarter. Continuum Advisory LLC now owns 830 shares of the oil and gas producer’s stock valued at $28,000 after buying an additional 490 shares in the last quarter. Coastline Trust Co acquired a new stake in Canadian Natural Resources in the 3rd quarter valued at about $33,000. Wilmington Savings Fund Society FSB acquired a new stake in Canadian Natural Resources in the 3rd quarter valued at about $37,000. Sound Income Strategies LLC bought a new position in shares of Canadian Natural Resources during the 3rd quarter valued at about $46,000. Finally, First Horizon Advisors Inc. grew its stake in shares of Canadian Natural Resources by 58.4% in the 3rd quarter. First Horizon Advisors Inc. now owns 1,432 shares of the oil and gas producer’s stock worth $48,000 after purchasing an additional 528 shares during the last quarter. 74.03% of the stock is currently owned by institutional investors and hedge funds.

Canadian Natural Resources Stock Performance

Shares of NYSE CNQ opened at $31.11 on Friday. Canadian Natural Resources Limited has a 52-week low of $29.23 and a 52-week high of $41.29. The stock has a market capitalization of $65.44 billion, a price-to-earnings ratio of 12.08 and a beta of 1.46. The company has a quick ratio of 0.53, a current ratio of 0.84 and a debt-to-equity ratio of 0.21. The stock’s fifty day simple moving average is $32.24 and its 200 day simple moving average is $34.05.

Canadian Natural Resources (NYSE:CNQ) (TSE:CNQ) last issued its quarterly earnings results on Thursday, October 31st. The oil and gas producer reported $0.97 earnings per share for the quarter, topping analysts’ consensus estimates of $0.67 by $0.30. Canadian Natural Resources had a return on equity of 20.07% and a net margin of 18.45%. The firm had revenue of $7.62 billion for the quarter, compared to analysts’ expectations of $6.40 billion. During the same quarter last year, the business posted $0.96 EPS. As a group, sell-side analysts forecast that Canadian Natural Resources Limited will post 2.42 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

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

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).