Public Sector Pension Investment Board Lowers stake in Canadian Natural Resource Ltd (USA) (CNQ)

Canadian Natural Resource Ltd (USA) (CNQ) : Public Sector Pension Investment Board reduced its stake in Canadian Natural Resource Ltd (USA) by 21.56% during the most recent quarter end. The investment management company now holds a total of 1,916,920 shares of Canadian Natural Resource Ltd (USA) which is valued at $61,494,794 after selling 527,000 shares in Canadian Natural Resource Ltd (USA) , the firm said in a disclosure report filed with the SEC on Aug 11, 2016.Canadian Natural Resource Ltd (USA) makes up approximately 0.74% of Public Sector Pension Investment Board’s portfolio.

Other Hedge Funds, Including , Swiss National Bank boosted its stake in CNQ in the latest quarter, The investment management firm added 213,700 additional shares and now holds a total of 6,193,600 shares of Canadian Natural Resource Ltd (USA) which is valued at $186,675,104. Canadian Natural Resource Ltd (USA) makes up approx 0.29% of Swiss National Bank’s portfolio.Meag Munich Ergo Kapitalanlagegesellschaft Mbh boosted its stake in CNQ in the latest quarter, The investment management firm added 40,000 additional shares and now holds a total of 240,000 shares of Canadian Natural Resource Ltd (USA) which is valued at $7,255,200. Canadian Natural Resource Ltd (USA) makes up approx 0.64% of Meag Munich Ergo Kapitalanlagegesellschaft Mbh’s portfolio.Creative Planning reduced its stake in CNQ by selling 325 shares or 7.64% in the most recent quarter. The Hedge Fund company now holds 3,927 shares of CNQ which is valued at $124,682.

Canadian Natural Resource Ltd (USA) opened for trading at $32.21 and hit $32.46 on the upside on Tuesday, eventually ending the session at $32.22, with a gain of 0.16% or 0.05 points. The heightened volatility saw the trading volume jump to 11,89,769 shares. Company has a market cap of $35,492 M.

On the company’s financial health, Canadian Natural Resource Ltd (USA) reported $-0.04 EPS for the quarter, beating the analyst consensus estimate by $ 0.08 according to the earnings call on Mar 3, 2016. Analyst had a consensus of $-0.12. The company had revenue of $2793.00 million for the quarter, compared to analysts expectations of $2658.22 million. The company’s revenue was down -36.3 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.10 EPS.

Many Wall Street Analysts have commented on Canadian Natural Resource Ltd (USA). Canadian Natural Resource Ltd (USA) was Initiated by BofA/Merrill to “Buy” on Aug 19, 2016. Canadian Natural Resource Ltd (USA) was Upgraded by Macquarie to ” Outperform” on Aug 5, 2016. Canadian Natural Resource Ltd (USA) was Upgraded by RBC Capital Mkts to ” Top Pick” on Jun 16, 2016.

Canadian Natural Resources Limited is an independent crude oil and natural gas producer. The Company’s diversified balanced resource base consists of both dry and liquids-rich natural gas heavy crude oil bitumen medium and light crude oil and synthetic crude oil. Its reserves were approximately 8.89 billion barrel of oil equivalent. Its segments include North America North Sea Offshore Africa Oil Sands Mining and Upgrading and Midstream. It has a portfolio of assets with production and development of both natural gas and crude oil. North America serve as its main operations with international exposure provided through operations in the United Kingdom portion of the North Sea and Offshore Africa.

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