Canadian Natural Resources Limited $CNQ Shares Sold by Canoe Financial LP

Canoe Financial LP cut its holdings in shares of Canadian Natural Resources Limited (NYSE:CNQ) (TSE:CNQ) by 6.7% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 5,721,033 shares of the oil and gas producer’s stock after selling 410,569 shares during the period. Canadian Natural Resources makes up 2.6% of Canoe Financial LP’s holdings, making the stock its 10th biggest holding. Canoe Financial LP owned 0.27% of Canadian Natural Resources worth $182,895,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in CNQ. MAI Capital Management increased its holdings in Canadian Natural Resources by 9.6% during the 1st quarter. MAI Capital Management now owns 4,365 shares of the oil and gas producer’s stock worth $134,000 after purchasing an additional 382 shares in the last quarter. Haven Private LLC grew its holdings in Canadian Natural Resources by 3.4% during the second quarter. Haven Private LLC now owns 11,617 shares of the oil and gas producer’s stock worth $365,000 after buying an additional 383 shares in the last quarter. King Luther Capital Management Corp grew its holdings in Canadian Natural Resources by 1.2% during the second quarter. King Luther Capital Management Corp now owns 32,283 shares of the oil and gas producer’s stock worth $1,014,000 after buying an additional 387 shares in the last quarter. Kingsview Wealth Management LLC raised its position in Canadian Natural Resources by 5.7% in the 2nd quarter. Kingsview Wealth Management LLC now owns 8,109 shares of the oil and gas producer’s stock valued at $255,000 after buying an additional 434 shares during the last quarter. Finally, Thurston Springer Miller Herd & Titak Inc. lifted its stake in Canadian Natural Resources by 8.7% during the 2nd quarter. Thurston Springer Miller Herd & Titak Inc. now owns 5,613 shares of the oil and gas producer’s stock valued at $176,000 after acquiring an additional 448 shares in the last quarter. Institutional investors own 74.03% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on CNQ. TD Securities reiterated a “buy” rating on shares of Canadian Natural Resources in a research note on Tuesday, September 30th. Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $62.00 price objective on shares of Canadian Natural Resources in a research report on Wednesday, September 24th. Zacks Research lowered shares of Canadian Natural Resources from a “strong-buy” rating to a “hold” rating in a research note on Friday, December 19th. Weiss Ratings restated a “hold (c)” rating on shares of Canadian Natural Resources in a research note on Wednesday, October 8th. Finally, Scotiabank reaffirmed an “outperform” rating on shares of Canadian Natural Resources in a research report on Thursday, October 9th. Five research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $62.00.

Canadian Natural Resources Stock Performance

NYSE:CNQ opened at $32.95 on Friday. The company has a market capitalization of $68.62 billion, a P/E ratio of 14.58 and a beta of 0.70. The business has a fifty day simple moving average of $32.54 and a two-hundred day simple moving average of $31.92. The company has a debt-to-equity ratio of 0.41, a current ratio of 0.86 and a quick ratio of 0.53. Canadian Natural Resources Limited has a 1 year low of $24.65 and a 1 year high of $35.12.

Canadian Natural Resources (NYSE:CNQ) (TSE:CNQ) last posted its quarterly earnings results on Thursday, November 6th. The oil and gas producer reported $0.62 earnings per share for the quarter, topping the consensus estimate of $0.54 by $0.08. Canadian Natural Resources had a return on equity of 18.93% and a net margin of 14.90%.The company had revenue of $6.79 billion during the quarter, compared to the consensus estimate of $6.81 billion. During the same quarter in the prior year, the company earned $0.97 EPS. On average, analysts expect that Canadian Natural Resources Limited will post 2.45 earnings per share for the current year.

Canadian Natural Resources Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, January 6th. Stockholders of record on Friday, December 12th will be paid a $0.5875 dividend. The ex-dividend date is Friday, December 12th. This is a positive change from Canadian Natural Resources’s previous quarterly dividend of $0.43. This represents a $2.35 annualized dividend and a dividend yield of 7.1%. Canadian Natural Resources’s dividend payout ratio is 74.34%.

Canadian Natural Resources Profile

Canadian Natural Resources Limited (NYSE: CNQ) is a Calgary-based independent oil and natural gas exploration and production company. Established in the early 1970s and publicly listed in Canada and the United States, the company is principally engaged in the exploration, development, production, and marketing of crude oil, natural gas and natural gas liquids. Its asset base spans conventional and unconventional reservoirs and includes oil sands mining and in-situ thermal projects, midstream processing and upgrading capacity, and related field operations.

The company’s operations are concentrated in Western Canada, where it develops heavy crude, bitumen from oil sands and conventional light crude and natural gas resources.