The Manufacturers Life Insurance Company raised its stake in Canadian Natural Resources Limited (NYSE:CNQ - Free Report) TSE: CNQ by 5.1% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 28,468,127 shares of the oil and gas producer's stock after purchasing an additional 1,383,478 shares during the period. Canadian Natural Resources accounts for about 0.8% of The Manufacturers Life Insurance Company's holdings, making the stock its 15th biggest position. The Manufacturers Life Insurance Company owned 1.35% of Canadian Natural Resources worth $945,965,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Acadian Asset Management LLC raised its stake in Canadian Natural Resources by 95.5% during the 1st quarter. Acadian Asset Management LLC now owns 4,300 shares of the oil and gas producer's stock worth $327,000 after acquiring an additional 2,100 shares in the last quarter. Bayesian Capital Management LP lifted its holdings in shares of Canadian Natural Resources by 8.8% in the 1st quarter. Bayesian Capital Management LP now owns 9,600 shares of the oil and gas producer's stock valued at $733,000 after purchasing an additional 776 shares during the last quarter. Dynasty Wealth Management LLC acquired a new stake in shares of Canadian Natural Resources in the 1st quarter valued at about $1,074,000. B. Riley Wealth Advisors Inc. grew its stake in Canadian Natural Resources by 7.2% during the 1st quarter. B. Riley Wealth Advisors Inc. now owns 40,577 shares of the oil and gas producer's stock worth $3,097,000 after buying an additional 2,723 shares during the last quarter. Finally, Tidal Investments LLC lifted its stake in Canadian Natural Resources by 59.9% in the first quarter. Tidal Investments LLC now owns 10,245 shares of the oil and gas producer's stock valued at $782,000 after buying an additional 3,837 shares during the last quarter. Institutional investors and hedge funds own 74.03% of the company's stock.
Canadian Natural Resources Stock Performance
Shares of NYSE CNQ traded down $0.84 during mid-day trading on Tuesday, hitting $33.19. 7,248,918 shares of the company were exchanged, compared to its average volume of 5,311,365. The stock has a 50 day simple moving average of $34.63 and a 200-day simple moving average of $35.26. Canadian Natural Resources Limited has a 1-year low of $29.45 and a 1-year high of $41.29. The company has a quick ratio of 0.53, a current ratio of 0.84 and a debt-to-equity ratio of 0.21. The firm has a market cap of $70.04 billion, a price-to-earnings ratio of 12.89 and a beta of 1.50.
Canadian Natural Resources (NYSE:CNQ - Get Free Report) TSE: CNQ last released its earnings results on Thursday, October 31st. The oil and gas producer reported $0.97 EPS for the quarter, topping the consensus estimate of $0.67 by $0.30. Canadian Natural Resources had a net margin of 18.45% and a return on equity of 20.07%. The company had revenue of $7.62 billion during the quarter, compared to analysts' expectations of $6.40 billion. During the same quarter last year, the business earned $0.96 EPS. On average, sell-side analysts forecast that Canadian Natural Resources Limited will post 2.47 EPS for the current fiscal year.
Canadian Natural Resources Increases Dividend
The firm also recently announced a quarterly dividend, which will be paid on Friday, January 3rd. Shareholders of record on Friday, December 13th will be given a dividend of $0.388 per share. This is a boost from Canadian Natural Resources's previous quarterly dividend of $0.38. The ex-dividend date is Friday, December 13th. This represents a $1.55 annualized dividend and a yield of 4.68%. Canadian Natural Resources's payout ratio is presently 60.58%.
Wall Street Analyst Weigh In
CNQ has been the topic of a number of research reports. Desjardins upgraded shares of Canadian Natural Resources from a "hold" rating to a "moderate buy" rating in a research report on Tuesday, October 8th. StockNews.com downgraded shares of 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 data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $51.00.
View Our Latest Analysis on CNQ
About Canadian Natural Resources
(
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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