Franklin Resources Inc. Trims Holdings in Canadian Natural Resources Limited (NYSE:CNQ)

Franklin Resources Inc. reduced its stake in Canadian Natural Resources Limited (NYSE:CNQ - Free Report) TSE: CNQ by 2.3% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,297,679 shares of the oil and gas producer's stock after selling 76,439 shares during the period. Franklin Resources Inc. owned approximately 0.16% of Canadian Natural Resources worth $109,516,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. Holocene Advisors LP bought a new stake in Canadian Natural Resources during the 3rd quarter worth approximately $13,700,000. Lighthouse Investment Partners LLC bought a new position in Canadian Natural Resources during the 2nd quarter worth $890,000. Canoe Financial LP lifted its holdings in Canadian Natural Resources by 226.0% during the 3rd quarter. Canoe Financial LP now owns 1,549,610 shares of the oil and gas producer's stock worth $51,469,000 after buying an additional 1,074,199 shares during the period. Cerity Partners LLC grew its position in shares of Canadian Natural Resources by 112.8% in the 3rd quarter. Cerity Partners LLC now owns 453,393 shares of the oil and gas producer's stock valued at $15,057,000 after buying an additional 240,354 shares during the last quarter. Finally, Anson Funds Management LP raised its position in shares of Canadian Natural Resources by 150.0% during the third quarter. Anson Funds Management LP now owns 100,000 shares of the oil and gas producer's stock worth $3,321,000 after acquiring an additional 60,000 shares during the last quarter. Institutional investors and hedge funds own 74.03% of the company's stock.

Canadian Natural Resources Price Performance

Shares of Canadian Natural Resources stock traded down $0.62 on Monday, reaching $30.85. The stock had a trading volume of 7,880,853 shares, compared to its average volume of 5,264,508. The business's 50 day moving average is $34.35 and its two-hundred day moving average is $34.78. The company has a current ratio of 0.84, a quick ratio of 0.53 and a debt-to-equity ratio of 0.21. Canadian Natural Resources Limited has a 1 year low of $29.45 and a 1 year high of $41.29. The company has a market cap of $64.99 billion, a P/E ratio of 12.25 and a beta of 1.47.

Canadian Natural Resources (NYSE:CNQ - Get Free Report) TSE: CNQ last issued its quarterly earnings data 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 during the quarter, compared to analyst estimates 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 quarter in the previous year, the firm earned $0.96 earnings per share. As a group, research analysts anticipate that Canadian Natural Resources Limited will post 2.47 EPS for the current year.

Canadian Natural Resources Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 3rd. Stockholders of record on Friday, December 13th will be paid a dividend of $0.388 per share. The ex-dividend date of this dividend is Friday, December 13th. This is a boost from Canadian Natural Resources's previous quarterly dividend of $0.38. This represents a $1.55 annualized dividend and a dividend yield of 5.03%. Canadian Natural Resources's payout ratio is 64.59%.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on CNQ. Desjardins raised shares of Canadian Natural Resources from a "hold" rating to a "moderate buy" rating in a research report on Tuesday, October 8th. StockNews.com lowered shares of Canadian Natural Resources from a "buy" rating to a "hold" rating in a research note on Friday, August 23rd. Five equities research analysts have rated the stock with a hold rating, Based on data from MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $51.00.

Canadian Natural Resources Profile

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).