Capital International Investors Has $30.62 Million Holdings in Canadian Natural Resources Limited $CNQ

Capital International Investors cut its holdings in shares of Canadian Natural Resources Limited (NYSE:CNQ) (TSE:CNQ) by 2.1% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 957,560 shares of the oil and gas producer’s stock after selling 20,083 shares during the period. Capital International Investors’ holdings in Canadian Natural Resources were worth $30,618,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Vanguard Group Inc. boosted its stake in Canadian Natural Resources by 1.9% in the 3rd quarter. Vanguard Group Inc. now owns 92,486,389 shares of the oil and gas producer’s stock worth $2,957,252,000 after purchasing an additional 1,744,290 shares during the period. Fisher Asset Management LLC raised its stake in shares of Canadian Natural Resources by 4.5% in the 2nd quarter. Fisher Asset Management LLC now owns 47,939,585 shares of the oil and gas producer’s stock valued at $1,505,303,000 after purchasing an additional 2,051,714 shares during the period. The Manufacturers Life Insurance Company lifted its holdings in shares of Canadian Natural Resources by 10.3% in the second quarter. The Manufacturers Life Insurance Company now owns 27,359,777 shares of the oil and gas producer’s stock valued at $855,414,000 after purchasing an additional 2,546,233 shares in the last quarter. Geode Capital Management LLC lifted its holdings in shares of Canadian Natural Resources by 19.8% in the second quarter. Geode Capital Management LLC now owns 17,146,792 shares of the oil and gas producer’s stock valued at $548,214,000 after purchasing an additional 2,832,155 shares in the last quarter. Finally, JPMorgan Chase & Co. boosted its position in shares of Canadian Natural Resources by 2.9% during the second quarter. JPMorgan Chase & Co. now owns 14,092,637 shares of the oil and gas producer’s stock worth $442,509,000 after buying an additional 399,945 shares during the period. 74.03% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on CNQ shares. Royal Bank Of Canada raised their price target on shares of Canadian Natural Resources from $61.00 to $65.00 and gave the stock an “outperform” rating in a research note on Friday, March 6th. ATB Cormark Capital Markets cut shares of Canadian Natural Resources from a “strong-buy” rating to a “moderate buy” rating in a report on Thursday, March 5th. Zacks Research downgraded shares of Canadian Natural Resources from a “hold” rating to a “strong sell” rating in a research report on Friday, March 6th. Desjardins lowered shares of Canadian Natural Resources from a “buy” rating to a “hold” rating in a research note on Monday, November 24th. Finally, The Goldman Sachs Group boosted their price target on shares of Canadian Natural Resources from $37.00 to $49.00 and gave the stock a “buy” rating in a research report on Thursday. Six research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $57.00.

Canadian Natural Resources Price Performance

Shares of CNQ opened at $48.59 on Friday. The company’s 50-day moving average is $38.91 and its 200-day moving average is $34.56. The company has a debt-to-equity ratio of 0.36, a current ratio of 0.95 and a quick ratio of 0.53. The firm has a market capitalization of $101.28 billion, a PE ratio of 13.17 and a beta of 0.63. Canadian Natural Resources Limited has a fifty-two week low of $24.65 and a fifty-two week high of $48.80.

Canadian Natural Resources (NYSE:CNQ) (TSE:CNQ) last released its quarterly earnings results on Thursday, March 5th. The oil and gas producer reported $0.59 earnings per share for the quarter, topping the consensus estimate of $0.53 by $0.06. Canadian Natural Resources had a return on equity of 17.84% and a net margin of 24.48%.The business had revenue of $6.89 billion during the quarter, compared to analysts’ expectations of $6.64 billion. During the same period last year, the firm posted $0.93 EPS. Equities analysts forecast that Canadian Natural Resources Limited will post 2.45 EPS for the current year.

Canadian Natural Resources Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 7th. Stockholders of record on Friday, March 20th will be issued a dividend of $0.625 per share. This is a boost from Canadian Natural Resources’s previous quarterly dividend of $0.59. The ex-dividend date of this dividend is Friday, March 20th. This represents a $2.50 dividend on an annualized basis and a dividend yield of 5.1%. Canadian Natural Resources’s payout ratio is currently 45.53%.

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.