Canadian Natural Resources Limited (NYSE:CNQ) Stake Lessened by CIBC Asset Management Inc

CIBC Asset Management Inc cut its stake in Canadian Natural Resources Limited (NYSE:CNQ) (TSE:CNQ) by 0.3% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 22,838,487 shares of the oil and gas producer’s stock after selling 77,540 shares during the quarter. Canadian Natural Resources comprises 2.5% of CIBC Asset Management Inc’s holdings, making the stock its 8th largest holding. CIBC Asset Management Inc’s holdings in Canadian Natural Resources were worth $761,179,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the company. Sei Investments Co. grew its stake in Canadian Natural Resources by 11.7% in the first quarter. Sei Investments Co. now owns 13,592 shares of the oil and gas producer’s stock worth $1,037,000 after purchasing an additional 1,423 shares during the period. Avantax Advisory Services Inc. increased its stake in shares of Canadian Natural Resources by 62.4% in the 1st quarter. Avantax Advisory Services Inc. now owns 6,225 shares of the oil and gas producer’s stock worth $475,000 after acquiring an additional 2,391 shares in the last quarter. HBK Sorce Advisory LLC boosted its stake in Canadian Natural Resources by 106.7% during the first quarter. HBK Sorce Advisory LLC now owns 6,712 shares of the oil and gas producer’s stock worth $512,000 after acquiring an additional 3,464 shares in the last quarter. Blair William & Co. IL purchased a new stake in Canadian Natural Resources in the first quarter worth about $243,000. Finally, Mitsubishi UFJ Trust & Banking Corp increased its stake in shares of Canadian Natural Resources by 105.9% during the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 8,555 shares of the oil and gas producer’s stock valued at $661,000 after purchasing an additional 4,400 shares in the last quarter. Hedge funds and other institutional investors own 74.03% of the company’s stock.

Canadian Natural Resources Trading Up 2.0 %

Shares of Canadian Natural Resources stock opened at $34.03 on Friday. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.84 and a quick ratio of 0.53. The stock has a market capitalization of $71.92 billion, a PE ratio of 13.22 and a beta of 1.50. Canadian Natural Resources Limited has a 1-year low of $29.45 and a 1-year high of $41.29. The company’s fifty day simple moving average is $34.43 and its 200-day simple moving average is $35.55.

Canadian Natural Resources (NYSE:CNQ) (TSE:CNQ) last released its earnings results on Thursday, October 31st. The oil and gas producer reported $0.97 EPS for the quarter, topping analysts’ consensus estimates of $0.67 by $0.30. The company had revenue of $7.62 billion for the quarter, compared to analysts’ expectations of $6.40 billion. Canadian Natural Resources had a net margin of 18.45% and a return on equity of 20.07%. During the same quarter last year, the business earned $0.96 EPS. As a group, equities analysts anticipate that Canadian Natural Resources Limited will post 2.38 earnings per share for the current year.

Canadian Natural Resources Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 3rd. Shareholders of record on Friday, December 13th will be paid a $0.388 dividend. This represents a $1.55 annualized dividend and a yield of 4.56%. This is an increase from Canadian Natural Resources’s previous quarterly dividend of $0.38. The ex-dividend date is Friday, December 13th. Canadian Natural Resources’s dividend payout ratio is presently 60.58%.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the company. StockNews.com lowered Canadian Natural Resources from a “buy” rating to a “hold” rating in a research report on Friday, August 23rd. Desjardins raised Canadian Natural Resources from a “hold” rating to a “moderate buy” rating in a research report on Tuesday, October 8th. Finally, Wolfe Research started coverage on shares of Canadian Natural Resources in a research note on Thursday, July 18th. They issued a “peer perform” rating for the company. Five analysts have rated the stock with a hold rating, Based on data from MarketBeat, Canadian Natural Resources has a consensus 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).