Canadian Natural Resources Limited (NYSE:CNQ) Shares Sold by Ninepoint Partners LP

Ninepoint Partners LP cut its holdings in shares of Canadian Natural Resources Limited (NYSE:CNQ) (TSE:CNQ) by 98.9% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 10,953 shares of the oil and gas producer’s stock after selling 1,000,000 shares during the period. Ninepoint Partners LP’s holdings in Canadian Natural Resources were worth $718,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Vanguard Group Inc. increased its stake in shares of Canadian Natural Resources by 6.2% during the first quarter. Vanguard Group Inc. now owns 40,235,475 shares of the oil and gas producer’s stock worth $2,493,796,000 after purchasing an additional 2,332,528 shares in the last quarter. Arrowstreet Capital Limited Partnership purchased a new stake in shares of Canadian Natural Resources during the first quarter worth about $960,796,000. 1832 Asset Management L.P. increased its stake in shares of Canadian Natural Resources by 1.7% during the fourth quarter. 1832 Asset Management L.P. now owns 14,225,902 shares of the oil and gas producer’s stock worth $789,964,000 after purchasing an additional 234,170 shares in the last quarter. The Manufacturers Life Insurance Company increased its stake in shares of Canadian Natural Resources by 15.8% during the third quarter. The Manufacturers Life Insurance Company now owns 12,852,785 shares of the oil and gas producer’s stock worth $837,145,000 after purchasing an additional 1,750,013 shares in the last quarter. Finally, Toronto Dominion Bank increased its stake in shares of Canadian Natural Resources by 4.0% during the third quarter. Toronto Dominion Bank now owns 11,642,676 shares of the oil and gas producer’s stock worth $752,932,000 after purchasing an additional 442,986 shares in the last quarter. 74.03% of the stock is currently owned by institutional investors and hedge funds.

Canadian Natural Resources Price Performance

NYSE CNQ traded up $0.12 during trading hours on Friday, hitting $76.95. 1,114,128 shares of the company’s stock traded hands, compared to its average volume of 3,291,085. Canadian Natural Resources Limited has a 52-week low of $52.66 and a 52-week high of $82.58. The company has a market capitalization of $82.50 billion, a PE ratio of 13.95 and a beta of 1.54. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.96 and a quick ratio of 0.69. The firm’s 50-day moving average is $72.22 and its 200-day moving average is $67.15.

Canadian Natural Resources (NYSE:CNQ) (TSE:CNQ) last announced its quarterly earnings data on Thursday, February 29th. The oil and gas producer reported $1.72 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.59 by $0.13. Canadian Natural Resources had a net margin of 20.15% and a return on equity of 21.74%. The company had revenue of $7.02 billion during the quarter, compared to analysts’ expectations of $6.73 billion. Equities analysts forecast that Canadian Natural Resources Limited will post 5.7 EPS for the current fiscal year.

Canadian Natural Resources Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, April 5th. Shareholders of record on Friday, March 15th were issued a $0.774 dividend. This represents a $3.10 annualized dividend and a yield of 4.02%. This is a positive change from Canadian Natural Resources’s previous quarterly dividend of $0.72. The ex-dividend date was Thursday, March 14th. Canadian Natural Resources’s payout ratio is presently 53.25%.

Wall Street Analysts Forecast Growth

Separately, JPMorgan Chase & Co. boosted their target price on shares of Canadian Natural Resources from $101.00 to $102.00 and gave the stock a “neutral” rating in a research note on Thursday, January 11th. Five equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, Canadian Natural Resources currently has a consensus rating of “Hold” and an average target price of $94.00.

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).