As Canadian Nat Res LTD (CNQ) Stock Declined, Letko Brosseau & Associates INC Cut Its Position

Canadian Natural Resources Limited (NYSE:CNQ) Logo

Letko Brosseau & Associates Inc decreased its stake in Canadian Nat Res Ltd (CNQ) by 0.74% based on its latest 2018Q3 regulatory filing with the SEC. Letko Brosseau & Associates Inc sold 102,030 shares as the company’s stock declined 17.21% with the market. The institutional investor held 13.76M shares of the oil & gas production company at the end of 2018Q3, valued at $459.79 million, down from 13.86 million at the end of the previous reported quarter. Letko Brosseau & Associates Inc who had been investing in Canadian Nat Res Ltd for a number of months, seems to be less bullish one the $32.84B market cap company. The stock increased 0.29% or $0.08 during the last trading session, reaching $27.24. About 1.13M shares traded. Canadian Natural Resources Limited (NYSE:CNQ) has declined 22.36% since January 14, 2018 and is downtrending. It has underperformed by 22.36% the S&P500.

Letko Brosseau & Associates Inc, which manages about $24.00B and $11.05B US Long portfolio, upped its stake in Norbord Inc (NBRXF) by 428,450 shares to 4.63 million shares, valued at $175.78 million in 2018Q3, according to the filing. It also increased its holding in Dxc Technology Co by 131,031 shares in the quarter, for a total of 413,847 shares, and has risen its stake in Precision Drilling Corp.

Analysts await Canadian Natural Resources Limited (NYSE:CNQ) to report earnings on March, 7. They expect $0.30 earnings per share, down 99.92 % or $368.22 from last year’s $368.52 per share. CNQ’s profit will be $361.63M for 22.70 P/E if the $0.30 EPS becomes a reality. After $0.91 actual earnings per share reported by Canadian Natural Resources Limited for the previous quarter, Wall Street now forecasts -67.03 % negative EPS growth.

More notable recent Canadian Natural Resources Limited (NYSE:CNQ) news were published by: Seekingalpha.com which released: “Billionaire Investor Quietly Buying Canadian Natural Resources Ltd. – Seeking Alpha” on January 04, 2018, also Seekingalpha.com with their article: “Canadian Natural: Buy The Breakout – Seeking Alpha” published on April 09, 2018, Fool.ca published: “2 TSX Index Stock That Look Cheap and Could Surge in 2019 – The Motley Fool Canada” on November 06, 2018. More interesting news about Canadian Natural Resources Limited (NYSE:CNQ) were released by: Fool.ca and their article: “3 Oversold Energy Stocks That Pay Dividends – The Motley Fool Canada” published on November 22, 2018 as well as Fool.ca‘s news article titled: “Canadian Natural Resources Ltd.: A Top Stock for Your RRSP Today? – The Motley Fool Canada” with publication date: April 19, 2018.

Canadian Natural Resources Limited (NYSE:CNQ) Ratings Coverage

Among 3 analysts covering Canadian Natural Res (NYSE:CNQ), 2 have Buy rating, 0 Sell and 1 Hold. Therefore 67% are positive. Canadian Natural Res had 5 analyst reports since September 20, 2018 according to SRatingsIntel. The stock of Canadian Natural Resources Limited (NYSE:CNQ) earned “Overweight” rating by Morgan Stanley on Friday, October 12. The stock of Canadian Natural Resources Limited (NYSE:CNQ) has “Neutral” rating given on Friday, December 7 by Citigroup. The firm earned “Overweight” rating on Tuesday, November 20 by Morgan Stanley. The rating was downgraded by RBC Capital Markets to “Outperform” on Thursday, September 20.

Canadian Natural Resources Limited (NYSE:CNQ) Ratings Chart

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