Toronto Dominion Bank trimmed its position in shares of Canadian Natural Resources Limited (NYSE:CNQ - Free Report) TSE: CNQ by 32.2% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,537,733 shares of the oil and gas producer's stock after selling 5,963,684 shares during the period. Canadian Natural Resources makes up approximately 0.7% of Toronto Dominion Bank's holdings, making the stock its 23rd biggest holding. Toronto Dominion Bank owned approximately 0.59% of Canadian Natural Resources worth $416,378,000 at the end of the most recent quarter.
Other hedge funds have also modified their holdings of the company. Holocene Advisors LP purchased a new stake in shares of Canadian Natural Resources during the 3rd quarter worth approximately $13,700,000. Lighthouse Investment Partners LLC purchased a new stake in Canadian Natural Resources during the 2nd quarter valued at $890,000. Canoe Financial LP raised its holdings in Canadian Natural Resources by 226.0% during the 3rd quarter. Canoe Financial LP now owns 1,549,610 shares of the oil and gas producer's stock valued at $51,469,000 after buying an additional 1,074,199 shares during the period. Cerity Partners LLC raised its holdings in Canadian Natural Resources by 112.8% during the 3rd quarter. Cerity Partners LLC now owns 453,393 shares of the oil and gas producer's stock valued at $15,057,000 after buying an additional 240,354 shares during the period. Finally, Anson Funds Management LP raised its holdings in Canadian Natural Resources by 150.0% during the 3rd quarter. Anson Funds Management LP now owns 100,000 shares of the oil and gas producer's stock valued at $3,321,000 after buying an additional 60,000 shares during the period. 74.03% of the stock is owned by hedge funds and other institutional investors.
Canadian Natural Resources Trading Up 0.9 %
CNQ stock traded up $0.30 during midday trading on Wednesday, reaching $32.42. The company's stock had a trading volume of 7,348,599 shares, compared to its average volume of 5,249,067. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.53 and a current ratio of 0.84. The stock has a fifty day simple moving average of $34.55 and a two-hundred day simple moving average of $34.91. Canadian Natural Resources Limited has a 1 year low of $29.45 and a 1 year high of $41.29. The firm has a market capitalization of $68.42 billion, a price-to-earnings ratio of 12.56 and a beta of 1.47.
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 earnings per share for the quarter, topping analysts' consensus estimates of $0.67 by $0.30. Canadian Natural Resources had a return on equity of 20.07% and a net margin of 18.45%. The business had revenue of $7.62 billion for the quarter, compared to analyst estimates of $6.40 billion. During the same quarter last year, the firm posted $0.96 earnings per share. On average, equities research analysts predict that Canadian Natural Resources Limited will post 2.47 EPS for the current year.
Canadian Natural Resources Increases Dividend
The company also recently declared a quarterly dividend, which will be paid on Friday, January 3rd. Stockholders of record on Friday, December 13th will be given a dividend of $0.388 per share. This is an increase from Canadian Natural Resources's previous quarterly dividend of $0.38. The ex-dividend date of this dividend is Friday, December 13th. This represents a $1.55 dividend on an annualized basis and a dividend yield of 4.79%. Canadian Natural Resources's dividend payout ratio is presently 64.59%.
Analyst Ratings Changes
CNQ has been the topic of several recent research reports. StockNews.com lowered Canadian Natural Resources from a "buy" rating to a "hold" rating in a report on Friday, August 23rd. Desjardins upgraded Canadian Natural Resources from a "hold" rating to a "moderate buy" rating in a research note on Tuesday, October 8th. Five analysts have rated the stock with a hold rating, According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $51.00.
Read Our Latest Research Report on Canadian Natural Resources
About Canadian Natural Resources
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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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