Mediolanum International Funds Ltd lowered its holdings in Canadian Natural Resources Limited (NYSE:CNQ - Free Report) TSE: CNQ by 42.7% in the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 79,468 shares of the oil and gas producer's stock after selling 59,164 shares during the period. Mediolanum International Funds Ltd's holdings in Canadian Natural Resources were worth $2,641,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently bought and sold shares of CNQ. Envestnet Portfolio Solutions Inc. raised its holdings in Canadian Natural Resources by 0.9% in the first quarter. Envestnet Portfolio Solutions Inc. now owns 21,774 shares of the oil and gas producer's stock valued at $1,662,000 after acquiring an additional 204 shares in the last quarter. Cloverfields Capital Group LP increased its holdings in Canadian Natural Resources by 0.8% in the first quarter. Cloverfields Capital Group LP now owns 32,017 shares of the oil and gas producer's stock valued at $2,444,000 after buying an additional 253 shares during the last quarter. Burgundy Asset Management Ltd. raised its stake in Canadian Natural Resources by 1.1% during the first quarter. Burgundy Asset Management Ltd. now owns 29,908 shares of the oil and gas producer's stock valued at $2,282,000 after buying an additional 339 shares in the last quarter. RFP Financial Group LLC lifted 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 worth $25,000 after buying an additional 352 shares during the last quarter. Finally, Park Place Capital Corp grew its position in shares of Canadian Natural Resources by 100.0% in the 2nd 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 in the last quarter. Institutional investors and hedge funds own 74.03% of the company's stock.
Canadian Natural Resources Stock Performance
NYSE:CNQ traded up $0.45 during mid-day trading on Friday, hitting $35.55. The stock had a trading volume of 2,851,150 shares, compared to its average volume of 5,424,765. The company has a current ratio of 0.88, a quick ratio of 0.59 and a debt-to-equity ratio of 0.24. The company has a 50 day simple moving average of $34.92 and a 200-day simple moving average of $35.98. The stock has a market capitalization of $75.65 billion, a price-to-earnings ratio of 14.16 and a beta of 1.50. Canadian Natural Resources Limited has a 52 week low of $29.45 and a 52 week high of $41.29.
Canadian Natural Resources (NYSE:CNQ - Get Free Report) TSE: CNQ last issued its quarterly earnings data on Thursday, August 1st. The oil and gas producer reported $0.88 earnings per share (EPS) for the quarter, topping 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 business had revenue of $7.76 billion during the quarter, compared to analyst estimates of $6.19 billion. During the same period in the prior year, the company posted $0.43 EPS. On average, research analysts expect that Canadian Natural Resources Limited will post 2.5 earnings per share for the current fiscal year.
Canadian Natural Resources Increases Dividend
The business also recently declared a quarterly dividend, which will be paid on Friday, January 3rd. Stockholders of record on Friday, December 13th will be paid a $0.388 dividend. This is a positive change from Canadian Natural Resources's previous quarterly dividend of $0.38. This represents a $1.55 dividend on an annualized basis and a dividend yield of 4.37%. The ex-dividend date of this dividend is Friday, December 13th. Canadian Natural Resources's dividend payout ratio is currently 66.14%.
Analysts Set New Price Targets
Several equities analysts recently issued reports on the company. Wolfe Research initiated coverage on Canadian Natural Resources in a research note on Thursday, July 18th. They set a "peer perform" rating on the stock. Desjardins raised shares of Canadian Natural Resources from a "hold" rating to a "moderate buy" rating in a report on Tuesday, October 8th. Finally, 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 and one has given a buy rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $49.50.
Read Our Latest Stock Analysis on Canadian Natural Resources
Canadian Natural Resources Profile
(
Free Report)
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).
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