Canadian Natural Resources Limited $CNQ Stock Holdings Lowered by Public Employees Retirement System of Ohio

Public Employees Retirement System of Ohio reduced its holdings in Canadian Natural Resources Limited (NYSE:CNQ) (TSE:CNQ) by 18.1% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 132,926 shares of the oil and gas producer’s stock after selling 29,442 shares during the quarter. Public Employees Retirement System of Ohio’s holdings in Canadian Natural Resources were worth $4,170,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in CNQ. Goldman Sachs Group Inc. raised its holdings in shares of Canadian Natural Resources by 240.8% in the 1st quarter. Goldman Sachs Group Inc. now owns 22,776,594 shares of the oil and gas producer’s stock worth $701,519,000 after purchasing an additional 16,094,168 shares in the last quarter. Bank of Nova Scotia raised its holdings in shares of Canadian Natural Resources by 86.6% in the 1st quarter. Bank of Nova Scotia now owns 24,262,707 shares of the oil and gas producer’s stock worth $746,675,000 after purchasing an additional 11,259,267 shares in the last quarter. T. Rowe Price Investment Management Inc. raised its holdings in shares of Canadian Natural Resources by 29.1% in the 1st quarter. T. Rowe Price Investment Management Inc. now owns 43,968,120 shares of the oil and gas producer’s stock worth $1,354,219,000 after purchasing an additional 9,915,345 shares in the last quarter. Canada Pension Plan Investment Board raised its holdings in shares of Canadian Natural Resources by 13.0% in the 1st quarter. Canada Pension Plan Investment Board now owns 41,769,153 shares of the oil and gas producer’s stock worth $1,285,464,000 after purchasing an additional 4,805,451 shares in the last quarter. Finally, Canoe Financial LP increased its position in shares of Canadian Natural Resources by 403.7% in the first quarter. Canoe Financial LP now owns 4,738,577 shares of the oil and gas producer’s stock worth $145,828,000 after acquiring an additional 3,797,846 shares in the last quarter. 74.03% of the stock is currently owned by institutional investors.

Canadian Natural Resources Stock Performance

CNQ stock opened at $32.35 on Tuesday. The company has a quick ratio of 0.54, a current ratio of 0.85 and a debt-to-equity ratio of 0.38. The company has a market capitalization of $67.52 billion, a price-to-earnings ratio of 11.47 and a beta of 1.03. Canadian Natural Resources Limited has a 12 month low of $24.65 and a 12 month high of $37.91. The firm has a 50 day moving average of $31.24 and a two-hundred day moving average of $30.76.

Canadian Natural Resources (NYSE:CNQ) (TSE:CNQ) last posted its earnings results on Thursday, August 7th. The oil and gas producer reported $0.51 EPS for the quarter, topping the consensus estimate of $0.44 by $0.07. The company had revenue of $6.39 billion during the quarter, compared to the consensus estimate of $8.97 billion. Canadian Natural Resources had a net margin of 19.00% and a return on equity of 19.67%. During the same period in the previous year, the firm posted $0.88 earnings per share. As a group, equities analysts anticipate that Canadian Natural Resources Limited will post 2.45 EPS for the current fiscal year.

Canadian Natural Resources Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 3rd. Stockholders of record on Friday, September 19th will be paid a $0.4269 dividend. The ex-dividend date is Friday, September 19th. This is a positive change from Canadian Natural Resources’s previous quarterly dividend of $0.42. This represents a $1.71 dividend on an annualized basis and a dividend yield of 5.3%. Canadian Natural Resources’s dividend payout ratio is presently 60.64%.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on CNQ. National Bankshares reissued a “sector perform” rating on shares of Canadian Natural Resources in a research report on Thursday, July 17th. Royal Bank Of Canada reissued an “outperform” rating and issued a $62.00 target price on shares of Canadian Natural Resources in a research report on Wednesday, September 24th. Raymond James Financial reissued an “outperform” rating on shares of Canadian Natural Resources in a research report on Friday, August 8th. Scotiabank reissued an “outperform” rating on shares of Canadian Natural Resources in a research report on Friday, July 11th. Finally, Zacks Research raised shares of Canadian Natural Resources from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, August 26th. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $62.00.

About Canadian Natural Resources

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).