Mackenzie Financial Corp Buys 14,246,978 Shares of Canadian Natural Resources Limited (NYSE:CNQ)

Mackenzie Financial Corp lifted its holdings in shares of Canadian Natural Resources Limited (NYSE:CNQ - Free Report) TSE: CNQ by 90.3% during the second quarter, according to its most recent disclosure with the SEC. The fund owned 30,017,414 shares of the oil and gas producer's stock after acquiring an additional 14,246,978 shares during the period. Canadian Natural Resources makes up approximately 1.6% of Mackenzie Financial Corp's investment portfolio, making the stock its 9th largest holding. Mackenzie Financial Corp owned 1.41% of Canadian Natural Resources worth $1,069,338,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of CNQ. The Manufacturers Life Insurance Company grew its stake in Canadian Natural Resources by 102.3% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 27,084,649 shares of the oil and gas producer's stock valued at $963,348,000 after purchasing an additional 13,694,741 shares during the last quarter. Employees Retirement System of Texas lifted its stake in Canadian Natural Resources by 100.0% during the 2nd quarter. Employees Retirement System of Texas now owns 78,520 shares of the oil and gas producer's stock valued at $2,795,000 after acquiring an additional 39,260 shares during the period. AQR Capital Management LLC purchased a new stake in shares of Canadian Natural Resources in the 2nd quarter valued at $276,000. AXA S.A. increased its stake in shares of Canadian Natural Resources by 114.9% in the second quarter. AXA S.A. now owns 57,522 shares of the oil and gas producer's stock worth $2,048,000 after acquiring an additional 30,758 shares during the period. Finally, Caxton Associates LP purchased a new position in shares of Canadian Natural Resources during the second quarter worth $7,661,000. 74.03% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms recently commented on CNQ. StockNews.com lowered Canadian Natural Resources from a "buy" rating to a "hold" rating in a report on Friday, August 23rd. Scotiabank reaffirmed a "sector perform" rating on shares of Canadian Natural Resources in a research note on Tuesday, June 11th. Finally, Wolfe Research assumed coverage on Canadian Natural Resources in a report on Thursday, July 18th. They set a "peer perform" rating for the company. Six equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company's stock. According to MarketBeat, Canadian Natural Resources has an average rating of "Hold" and a consensus price target of $49.50.

Canadian Natural Resources Trading Up 1.1 %

Canadian Natural Resources stock traded up $0.35 during trading on Friday, hitting $32.99. The company's stock had a trading volume of 2,312,263 shares, compared to its average volume of 5,526,405. The stock has a market capitalization of $70.20 billion, a price-to-earnings ratio of 13.00 and a beta of 1.51. Canadian Natural Resources Limited has a 1-year low of $29.45 and a 1-year high of $41.29. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.59 and a current ratio of 0.88. The stock's fifty day moving average is $34.59 and its 200 day moving average is $36.35.

Canadian Natural Resources (NYSE:CNQ - Get Free Report) TSE: CNQ last issued its earnings results on Thursday, August 1st. The oil and gas producer reported $0.88 EPS for the quarter, beating analysts' consensus estimates of $0.62 by $0.26. Canadian Natural Resources had a return on equity of 22.09% and a net margin of 18.05%. The company had revenue of $7.76 billion during the quarter, compared to the consensus estimate of $6.19 billion. During the same period in the previous year, the firm posted $0.43 earnings per share. As a group, equities research analysts predict that Canadian Natural Resources Limited will post 2.47 EPS for the current year.

Canadian Natural Resources Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 4th. Shareholders of record on Friday, September 13th will be given a dividend of $0.384 per share. This represents a $1.54 annualized dividend and a yield of 4.66%. The ex-dividend date of this dividend is Friday, September 13th. Canadian Natural Resources's payout ratio is 61.75%.

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).