Public Employees Retirement System of Ohio acquired a new stake in Canadian Natural Resources Limited (NYSE:CNQ - Free Report) TSE: CNQ in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund acquired 180,135 shares of the oil and gas producer's stock, valued at approximately $5,988,000.
Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Fisher Asset Management LLC lifted its position in Canadian Natural Resources by 3.9% in the third quarter. Fisher Asset Management LLC now owns 43,581,024 shares of the oil and gas producer's stock valued at $1,447,326,000 after purchasing an additional 1,651,452 shares during the last quarter. TD Asset Management Inc raised its holdings in shares of 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 valued at $1,514,190,000 after acquiring an additional 20,843,193 shares in the last quarter. Canada Pension Plan Investment Board raised its holdings in shares of 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 valued at $1,476,644,000 after acquiring an additional 19,980,902 shares in the last quarter. 1832 Asset Management L.P. raised its holdings in shares of 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 valued at $1,127,382,000 after acquiring an additional 16,245,046 shares in the last quarter. Finally, Mackenzie Financial Corp raised its holdings in shares of Canadian Natural Resources by 90.3% during the second quarter. Mackenzie Financial Corp now owns 30,017,414 shares of the oil and gas producer's stock valued at $1,069,338,000 after acquiring an additional 14,246,978 shares in the last quarter. Institutional investors own 74.03% of the company's stock.
Analyst Upgrades and Downgrades
A number of brokerages recently commented on CNQ. Desjardins upgraded Canadian Natural Resources from a "hold" rating to a "moderate buy" rating in a report on Tuesday, October 8th. StockNews.com downgraded Canadian Natural Resources from a "buy" rating to a "hold" rating in a report on Friday, August 23rd. Five analysts have rated the stock with a hold rating, According to data from MarketBeat.com, Canadian Natural Resources presently has a consensus rating of "Hold" and an average price target of $51.00.
Check Out Our Latest Stock Report on Canadian Natural Resources
Canadian Natural Resources Stock Up 0.6 %
CNQ traded up $0.20 during trading on Friday, reaching $31.47. The stock had a trading volume of 5,087,042 shares, compared to its average volume of 5,253,273. The stock's 50 day moving average is $34.35 and its two-hundred day moving average is $34.80. The company has a current ratio of 0.84, a quick ratio of 0.53 and a debt-to-equity ratio of 0.21. The company has a market capitalization of $66.30 billion, a price-to-earnings ratio of 12.25 and a beta of 1.47. Canadian Natural Resources Limited has a one year low of $29.45 and a one year high of $41.29.
Canadian Natural Resources (NYSE:CNQ - Get Free Report) TSE: CNQ last posted its quarterly earnings data on Thursday, October 31st. The oil and gas producer reported $0.97 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.67 by $0.30. The business had revenue of $7.62 billion during the quarter, compared to the consensus estimate 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 prior year, the company earned $0.96 earnings per share. As a group, analysts expect that Canadian Natural Resources Limited will post 2.47 earnings per share for the current year.
Canadian Natural Resources Increases Dividend
The business also recently announced 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 boost 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 4.93%. The ex-dividend date is Friday, December 13th. Canadian Natural Resources's dividend payout ratio is currently 64.59%.
Canadian Natural Resources Company 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).
See Also
Before you consider Canadian Natural Resources, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Canadian Natural Resources wasn't on the list.
While Canadian Natural Resources currently has a "Hold" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Options trading isn’t just for the Wall Street elite; it’s an accessible strategy for anyone armed with the proper knowledge. Think of options as a strategic toolkit, with each tool designed for a specific financial task. Keep reading to learn how options trading can help you use the market’s volatility to your advantage.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
