Cumberland Partners Ltd Decreases Stock Holdings in Canadian Natural Resources Limited (NYSE:CNQ)

Cumberland Partners Ltd lessened its holdings in Canadian Natural Resources Limited (NYSE:CNQ - Free Report) TSE: CNQ by 21.0% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 166,294 shares of the oil and gas producer's stock after selling 44,082 shares during the quarter. Cumberland Partners Ltd's holdings in Canadian Natural Resources were worth $5,528,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in CNQ. RFP Financial Group LLC raised its holdings in Canadian Natural Resources by 98.3% during the 2nd quarter. RFP Financial Group LLC now owns 710 shares of the oil and gas producer's stock valued at $25,000 after acquiring an additional 352 shares during the period. Park Place Capital Corp grew its stake in shares of Canadian Natural Resources by 100.0% in the second quarter. Park Place Capital Corp now owns 716 shares of the oil and gas producer's stock worth $25,000 after acquiring an additional 358 shares during the last quarter. Sugarloaf Wealth Management LLC increased its holdings in shares of Canadian Natural Resources by 100.0% during the second quarter. Sugarloaf Wealth Management LLC now owns 728 shares of the oil and gas producer's stock valued at $26,000 after acquiring an additional 364 shares in the last quarter. Bruce G. Allen Investments LLC lifted its stake in shares of Canadian Natural Resources by 91.6% in the second quarter. Bruce G. Allen Investments LLC now owns 868 shares of the oil and gas producer's stock worth $31,000 after buying an additional 415 shares in the last quarter. Finally, GAMMA Investing LLC increased its position in shares of Canadian Natural Resources by 104.7% during the second quarter. GAMMA Investing LLC now owns 874 shares of the oil and gas producer's stock valued at $31,000 after acquiring an additional 447 shares in the last quarter. 74.03% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on CNQ. Desjardins upgraded Canadian Natural Resources from a "hold" rating to a "moderate buy" rating in a research note on Tuesday, October 8th. StockNews.com cut Canadian Natural Resources from a "buy" rating to a "hold" rating in a report on Friday, August 23rd. Finally, Wolfe Research assumed coverage on Canadian Natural Resources in a research report on Thursday, July 18th. They issued a "peer perform" rating for the company. Five research analysts have rated the stock with a hold rating, Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $51.00.

Canadian Natural Resources Price Performance

Shares of NYSE:CNQ traded down $0.45 during midday trading on Tuesday, hitting $33.77. The company had a trading volume of 4,574,184 shares, compared to its average volume of 5,343,360. The stock has a market cap of $71.37 billion, a price-to-earnings ratio of 13.10 and a beta of 1.50. Canadian Natural Resources Limited has a twelve month low of $29.45 and a twelve month high of $41.29. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.84 and a quick ratio of 0.53. The business's 50-day simple moving average is $34.47 and its 200-day simple moving average is $35.60.

Canadian Natural Resources (NYSE:CNQ - Get Free Report) TSE: CNQ last issued its quarterly earnings results on Thursday, October 31st. The oil and gas producer reported $0.97 EPS for the quarter, topping the consensus estimate of $0.67 by $0.30. The company had revenue of $7.62 billion for the quarter, compared to the consensus estimate of $6.40 billion. Canadian Natural Resources had a return on equity of 20.07% and a net margin of 18.45%. During the same period in the previous year, the business posted $0.96 EPS. On average, research analysts predict that Canadian Natural Resources Limited will post 2.38 earnings per share for the current year.

Canadian Natural Resources Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, January 3rd. Stockholders of record on Friday, December 13th will be issued a $0.388 dividend. This is a positive change from Canadian Natural Resources's previous quarterly dividend of $0.38. The ex-dividend date is Friday, December 13th. This represents a $1.55 annualized dividend and a dividend yield of 4.60%. Canadian Natural Resources's payout ratio is 60.58%.

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).