Canadian Natural Resources Limited (NYSE:CNQ) Shares Sold by Yacktman Asset Management LP

Yacktman Asset Management LP lowered its stake in Canadian Natural Resources Limited (NYSE:CNQ - Free Report) TSE: CNQ by 1.5% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 29,006,951 shares of the oil and gas producer's stock after selling 449,795 shares during the period. Canadian Natural Resources makes up approximately 9.9% of Yacktman Asset Management LP's portfolio, making the stock its biggest holding. Yacktman Asset Management LP owned about 1.36% of Canadian Natural Resources worth $963,321,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of CNQ. Capital World Investors grew its holdings in Canadian Natural Resources by 0.5% during the first quarter. Capital World Investors now owns 144,344,207 shares of the oil and gas producer's stock worth $11,011,765,000 after acquiring an additional 684,532 shares during the period. Vanguard Group Inc. grew its holdings in Canadian Natural Resources by 1.7% during the first quarter. Vanguard Group Inc. now owns 43,813,537 shares of the oil and gas producer's stock worth $3,343,849,000 after acquiring an additional 714,346 shares during the period. TD Asset Management Inc grew its holdings in Canadian Natural Resources by 96.2% during the second quarter. TD Asset Management Inc now owns 42,518,833 shares of the oil and gas producer's stock worth $1,514,190,000 after acquiring an additional 20,843,193 shares during the period. Canada Pension Plan Investment Board grew its holdings in Canadian Natural Resources by 93.0% during the second quarter. Canada Pension Plan Investment Board now owns 41,464,502 shares of the oil and gas producer's stock worth $1,476,644,000 after acquiring an additional 19,980,902 shares during the period. Finally, 1832 Asset Management L.P. grew its holdings in Canadian Natural Resources by 105.3% during the second quarter. 1832 Asset Management L.P. now owns 31,668,045 shares of the oil and gas producer's stock worth $1,127,382,000 after acquiring an additional 16,245,046 shares during the period. Institutional investors and hedge funds own 74.03% of the company's stock.

Wall Street Analysts Forecast Growth

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

Canadian Natural Resources Stock Performance

Shares of NYSE:CNQ traded up $0.16 on Tuesday, reaching $34.41. 2,538,629 shares of the company's stock were exchanged, compared to its average volume of 5,382,342. The firm has a market capitalization of $72.73 billion, a price-to-earnings ratio of 13.30 and a beta of 1.50. Canadian Natural Resources Limited has a fifty-two week low of $29.45 and a fifty-two week high of $41.29. The business's 50-day moving average is $34.68 and its two-hundred day moving average is $35.74. The company has a quick ratio of 0.53, a current ratio of 0.84 and a debt-to-equity ratio of 0.21.

Canadian Natural Resources (NYSE:CNQ - Get Free Report) TSE: CNQ last released its quarterly earnings data on Thursday, October 31st. The oil and gas producer reported $0.97 earnings per share for the quarter, topping analysts' consensus estimates of $0.67 by $0.30. The business had revenue of $7.62 billion for the quarter, compared to analysts' expectations of $6.40 billion. Canadian Natural Resources had a net margin of 18.45% and a return on equity of 20.07%. During the same quarter last year, the company earned $0.96 EPS. As a group, equities research analysts forecast that Canadian Natural Resources Limited will post 2.4 EPS for the current year.

Canadian Natural Resources Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, January 3rd. Stockholders of record on Friday, December 13th will be given a $0.388 dividend. This is an increase from Canadian Natural Resources's previous quarterly dividend of $0.38. This represents a $1.55 annualized dividend and a dividend yield of 4.51%. The ex-dividend date is Friday, December 13th. Canadian Natural Resources's dividend payout ratio (DPR) is 60.58%.

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).