Principal Financial Group Inc. Sells 860,088 Shares of Canadian Natural Resources Limited (NYSE:CNQ)

Principal Financial Group Inc. trimmed its holdings in shares of Canadian Natural Resources Limited (NYSE:CNQ - Free Report) TSE: CNQ by 17.0% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 4,185,796 shares of the oil and gas producer's stock after selling 860,088 shares during the period. Principal Financial Group Inc. owned approximately 0.20% of Canadian Natural Resources worth $139,150,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently bought and sold shares of the business. Wealth Enhancement Advisory Services LLC increased its holdings in shares of Canadian Natural Resources by 294.3% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 18,418 shares of the oil and gas producer's stock valued at $656,000 after purchasing an additional 13,747 shares during the period. Nisa Investment Advisors LLC acquired a new position in Canadian Natural Resources in the 2nd quarter valued at approximately $41,000. Spirit of America Management Corp NY lifted its position in Canadian Natural Resources by 100.0% in the 2nd quarter. Spirit of America Management Corp NY now owns 4,000 shares of the oil and gas producer's stock worth $142,000 after buying an additional 2,000 shares in the last quarter. Calamos Wealth Management LLC boosted its stake in shares of Canadian Natural Resources by 116.6% during the 2nd quarter. Calamos Wealth Management LLC now owns 28,575 shares of the oil and gas producer's stock valued at $1,017,000 after buying an additional 15,383 shares during the period. Finally, Raymond James Trust N.A. grew its holdings in shares of Canadian Natural Resources by 179.6% during the 2nd quarter. Raymond James Trust N.A. now owns 34,674 shares of the oil and gas producer's stock valued at $1,234,000 after acquiring an additional 22,274 shares in the last quarter. 74.03% of the stock is owned by hedge funds and other institutional investors.

Canadian Natural Resources Stock Up 0.2 %

Shares of CNQ stock traded up $0.07 on Friday, hitting $29.58. The company's stock had a trading volume of 4,005,633 shares, compared to its average volume of 5,246,334. The stock has a market capitalization of $62.32 billion, a price-to-earnings ratio of 11.49 and a beta of 1.47. Canadian Natural Resources Limited has a fifty-two week low of $29.23 and a fifty-two week high of $41.29. The firm's fifty day moving average price is $33.66 and its 200-day moving average price is $34.54. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.84 and a quick ratio of 0.53.

Canadian Natural Resources (NYSE:CNQ - Get Free Report) TSE: CNQ last announced its quarterly earnings results 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 company had revenue of $7.62 billion during the quarter, compared to analysts' expectations 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. Research analysts anticipate that Canadian Natural Resources Limited will post 2.47 EPS for the current year.

Canadian Natural Resources Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, January 3rd. Shareholders of record on Friday, December 13th will be issued a dividend of $0.388 per share. This represents a $1.55 annualized dividend and a yield of 5.25%. The ex-dividend date is Friday, December 13th. This is an increase from Canadian Natural Resources's previous quarterly dividend of $0.38. Canadian Natural Resources's dividend payout ratio (DPR) is 64.59%.

Analyst Ratings Changes

Several analysts recently issued reports on CNQ shares. Desjardins upgraded Canadian Natural Resources from a "hold" rating to a "moderate buy" rating in a report on Tuesday, October 8th. StockNews.com lowered Canadian Natural Resources from a "buy" rating to a "hold" rating in a report on Friday, August 23rd. Five equities research analysts have rated the stock with a hold rating, According to MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $51.00.

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).