Intact Investment Management Inc. Has $54.95 Million Stake in Canadian Natural Resources Limited $CNQ

Intact Investment Management Inc. grew its position in Canadian Natural Resources Limited (NYSE:CNQ) (TSE:CNQ) by 9.1% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,718,220 shares of the oil and gas producer’s stock after purchasing an additional 143,550 shares during the quarter. Canadian Natural Resources makes up about 1.7% of Intact Investment Management Inc.’s portfolio, making the stock its 17th largest position. Intact Investment Management Inc. owned 0.08% of Canadian Natural Resources worth $54,946,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Haven Private LLC boosted its position 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 valued at $365,000 after acquiring an additional 383 shares during the last quarter. King Luther Capital Management Corp raised its position in shares of Canadian Natural Resources by 1.2% in the 2nd quarter. King Luther Capital Management Corp now owns 32,283 shares of the oil and gas producer’s stock worth $1,014,000 after acquiring an additional 387 shares in the last quarter. Kingsview Wealth Management LLC lifted its stake in shares of 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 purchasing an additional 434 shares during the period. Verdence Capital Advisors LLC boosted its position in shares of Canadian Natural Resources by 0.8% during the 2nd quarter. Verdence Capital Advisors LLC now owns 58,891 shares of the oil and gas producer’s stock valued at $1,849,000 after purchasing an additional 460 shares in the last quarter. Finally, Nisa Investment Advisors LLC boosted its position in shares of Canadian Natural Resources by 100.0% during the 3rd quarter. Nisa Investment Advisors LLC now owns 1,000 shares of the oil and gas producer’s stock valued at $32,000 after purchasing an additional 500 shares in the last quarter. Institutional investors own 74.03% of the company’s stock.

Canadian Natural Resources Price Performance

Shares of CNQ opened at $36.10 on Monday. The business’s fifty day moving average is $33.37 and its 200 day moving average is $32.09. Canadian Natural Resources Limited has a 12-month low of $24.65 and a 12-month high of $36.28. The company has a quick ratio of 0.53, a current ratio of 0.86 and a debt-to-equity ratio of 0.41. The stock has a market cap of $75.16 billion, a P/E ratio of 15.98 and a beta of 0.69.

Canadian Natural Resources (NYSE:CNQ) (TSE:CNQ) last released its quarterly earnings data 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 net margin of 14.90% and a return on equity of 18.93%. The firm had revenue of $6.79 billion for the quarter, compared to the consensus estimate of $6.81 billion. During the same quarter in the prior year, the company posted $0.97 earnings per share. Sell-side analysts anticipate that Canadian Natural Resources Limited will post 2.45 earnings per share for the current fiscal year.

Canadian Natural Resources Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, January 6th. Investors of record on Friday, December 12th were issued a $0.5875 dividend. The ex-dividend date was Friday, December 12th. This represents a $2.35 dividend on an annualized basis and a dividend yield of 6.5%. This is a boost from Canadian Natural Resources’s previous quarterly dividend of $0.43. Canadian Natural Resources’s dividend payout ratio (DPR) is currently 74.34%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the company. Scotiabank reiterated an “outperform” rating on shares of Canadian Natural Resources in a report on Thursday, October 9th. Desjardins downgraded shares of Canadian Natural Resources from a “buy” rating to a “hold” rating in a research report on Monday, November 24th. Evercore ISI lowered shares of Canadian Natural Resources from an “outperform” rating to an “in-line” rating in a research note on Tuesday, January 6th. Wells Fargo & Company upgraded shares of Canadian Natural Resources to a “hold” rating in a research report on Thursday, October 16th. Finally, The Goldman Sachs Group set a $35.00 price target on shares of Canadian Natural Resources and gave the stock a “buy” rating in a report on Friday, January 2nd. Five equities research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $48.50.

About Canadian Natural Resources

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.