Eagle Ridge Investment Management Lowers stake in Canadian Natural Resource Ltd (USA) (CNQ)

Canadian Natural Resource Ltd (USA) (CNQ) : Eagle Ridge Investment Management reduced its stake in Canadian Natural Resource Ltd (USA) by 7.92% during the most recent quarter end. The investment management company now holds a total of 43,242 shares of Canadian Natural Resource Ltd (USA) which is valued at $1,320,178 after selling 3,720 shares in Canadian Natural Resource Ltd (USA) , the firm said in a disclosure report filed with the SEC on Apr 21, 2016.Canadian Natural Resource Ltd (USA) makes up approximately 0.30% of Eagle Ridge Investment Management’s portfolio.

Canadian Natural Resource Ltd (USA) opened for trading at $30.95 and hit $31.46 on the upside on Wednesday, eventually ending the session at $30.63, with a gain of 0.26% or 0.08 points. The heightened volatility saw the trading volume jump to 42,87,425 shares. Company has a market cap of $33,530 M.

Other Hedge Funds, Including , Advisory Services Network boosted its stake in CNQ in the latest quarter, The investment management firm added 77 additional shares and now holds a total of 377 shares of Canadian Natural Resource Ltd (USA) which is valued at $11,510. Cornerstone Advisors added CNQ to its portfolio by purchasing 92 company shares during the most recent quarter which is valued at $2,809.Dorchester Wealth Management Co reduced its stake in CNQ by selling 4,285 shares or 1.71% in the most recent quarter. The Hedge Fund company now holds 245,625 shares of CNQ which is valued at $7,498,931. Canadian Natural Resource Ltd (USA) makes up approx 2.74% of Dorchester Wealth Management Co’s portfolio.Proficio Capital Partners boosted its stake in CNQ in the latest quarter, The investment management firm added 18 additional shares and now holds a total of 258 shares of Canadian Natural Resource Ltd (USA) which is valued at $7,121. Canadian Natural Resource Ltd (USA) makes up approx 0.01% of Proficio Capital Partners’s portfolio.

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 Downgraded by TD Securities to ” Hold” on Apr 1, 2016. Canadian Natural Resource Ltd (USA) was Upgraded by JP Morgan to ” Overweight” on Mar 4, 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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