Intact Investment Management Inc. Sells 85,620 Shares of Canadian Natural Resources Limited (NYSE:CNQ)

Intact Investment Management Inc. cut its position in shares of Canadian Natural Resources Limited (NYSE:CNQ - Free Report) TSE: CNQ by 10.3% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 745,530 shares of the oil and gas producer's stock after selling 85,620 shares during the period. Intact Investment Management Inc.'s holdings in Canadian Natural Resources were worth $24,758,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. RFP Financial Group LLC boosted its stake in shares of 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 acquiring an additional 352 shares in the last quarter. Park Place Capital Corp grew its holdings in Canadian Natural Resources by 100.0% during the second quarter. Park Place Capital Corp now owns 716 shares of the oil and gas producer's stock valued at $25,000 after purchasing an additional 358 shares during the last quarter. Sugarloaf Wealth Management LLC raised its position in shares of Canadian Natural Resources by 100.0% in the second quarter. Sugarloaf Wealth Management LLC now owns 728 shares of the oil and gas producer's stock valued at $26,000 after purchasing an additional 364 shares during the period. Bruce G. Allen Investments LLC raised its position 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 valued at $31,000 after purchasing an additional 415 shares during the period. Finally, GAMMA Investing LLC boosted its holdings in shares of Canadian Natural Resources by 104.7% during the 2nd quarter. GAMMA Investing LLC now owns 874 shares of the oil and gas producer's stock worth $31,000 after buying an additional 447 shares during the period. 74.03% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts recently commented on CNQ shares. Wolfe Research started coverage on shares of Canadian Natural Resources in a report on Thursday, July 18th. They issued a "peer perform" rating on the stock. StockNews.com lowered Canadian Natural Resources from a "buy" rating to a "hold" rating in a research note on Friday, August 23rd. Finally, Desjardins upgraded Canadian Natural Resources from a "hold" rating to a "moderate buy" rating in a research note on Tuesday, October 8th. Five equities research analysts have rated the stock with a hold rating, According to MarketBeat.com, Canadian Natural Resources currently has a consensus rating of "Hold" and an average target price of $51.00.

Canadian Natural Resources Stock Performance

Shares of NYSE:CNQ traded up $0.37 on Monday, hitting $34.25. 2,969,354 shares of the company were exchanged, compared to its average volume of 5,395,693. Canadian Natural Resources Limited has a one year low of $29.45 and a one 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 firm has a market capitalization of $72.39 billion, a price-to-earnings ratio of 13.18 and a beta of 1.50. The company's 50 day moving average price is $34.74 and its two-hundred day moving average price is $35.77.

Canadian Natural Resources (NYSE:CNQ - Get Free Report) TSE: CNQ last issued its earnings results on Thursday, October 31st. The oil and gas producer reported $0.97 EPS for the quarter, beating analysts' consensus estimates of $0.67 by $0.30. The business 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 20.08% and a net margin of 18.45%. During the same period in the prior year, the company posted $0.96 earnings per share. Research analysts expect that Canadian Natural Resources Limited will post 2.4 earnings per share 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. Investors of record on Friday, December 13th will be paid a $0.388 dividend. The ex-dividend date is Friday, December 13th. This represents a $1.55 dividend on an annualized basis and a yield of 4.53%. This is a boost from Canadian Natural Resources's previous quarterly dividend of $0.38. Canadian Natural Resources's payout ratio is presently 64.59%.

Canadian Natural Resources Company 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).