Letko Brosseau Associates Inc buys $443.3 Million stake in Canadian Natural Resource Ltd (USA) (CNQ)

Canadian Natural Resource Ltd (USA) (CNQ) : Letko Brosseau Associates Inc scooped up 113,690 additional shares in Canadian Natural Resource Ltd (USA) during the most recent quarter end , the firm said in a disclosure report filed with the SEC on May 11, 2016. The investment management firm now holds a total of 15,517,455 shares of Canadian Natural Resource Ltd (USA) which is valued at $443.3 Million.Canadian Natural Resource Ltd (USA) makes up approximately 4.36% of Letko Brosseau Associates Inc’s portfolio.

Other Hedge Funds, Including , Nikko Asset Management Americas reduced its stake in CNQ by selling 49,700 shares or 11.84% in the most recent quarter. The Hedge Fund company now holds 370,230 shares of CNQ which is valued at $10.6 Million. Canadian Natural Resource Ltd (USA) makes up approx 1.22% of Nikko Asset Management Americas’s portfolio.First Eagle Investment Management reduced its stake in CNQ by selling 8,841,300 shares or 52.19% in the most recent quarter. The Hedge Fund company now holds 8,098,292 shares of CNQ which is valued at $224.5 Million. Canadian Natural Resource Ltd (USA) makes up approx 0.56% of First Eagle Investment Management’s portfolio.

Canadian Natural Resource Ltd (USA) opened for trading at $29.18 and hit $29.66 on the upside on Monday, eventually ending the session at $29.28, with a gain of 2.49% or 0.71 points. The heightened volatility saw the trading volume jump to 31,17,820 shares. Company has a market cap of $32,081 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 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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