Bridgewater Associates LP Reduces Stock Position in Canadian Natural Resources Limited (NYSE:CNQ)

Bridgewater Associates LP decreased its holdings in Canadian Natural Resources Limited (NYSE:CNQ) (TSE:CNQ) by 2.7% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 124,286 shares of the oil and gas producer’s stock after selling 3,433 shares during the period. Bridgewater Associates LP’s holdings in Canadian Natural Resources were worth $4,132,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in CNQ. TD Asset Management Inc increased its stake in Canadian Natural Resources by 96.2% in the 2nd quarter. TD Asset Management Inc now owns 42,518,833 shares of the oil and gas producer’s stock worth $1,514,190,000 after buying an additional 20,843,193 shares during the period. Canada Pension Plan Investment Board boosted its position in Canadian Natural Resources by 93.0% in the 2nd 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 buying an additional 19,980,902 shares during the period. 1832 Asset Management L.P. grew its stake in Canadian Natural Resources by 105.3% in the 2nd quarter. 1832 Asset Management L.P. now owns 31,668,045 shares of the oil and gas producer’s stock worth $1,127,382,000 after acquiring an additional 16,245,046 shares in the last quarter. Yacktman Asset Management LP increased its position in shares of Canadian Natural Resources by 95.9% during the second quarter. Yacktman Asset Management LP now owns 29,456,746 shares of the oil and gas producer’s stock worth $1,048,660,000 after acquiring an additional 14,418,835 shares during the period. Finally, Mackenzie Financial Corp raised its stake 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. 74.03% of the stock is currently owned by institutional investors.

Canadian Natural Resources Stock Performance

Shares of CNQ stock opened at $33.82 on Friday. The firm has a market cap of $71.37 billion, a price-to-earnings ratio of 13.13 and a beta of 1.50. Canadian Natural Resources Limited has a 52-week low of $29.45 and a 52-week 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 company’s 50 day moving average is $34.65 and its 200 day moving average is $35.21.

Canadian Natural Resources (NYSE:CNQ) (TSE:CNQ) last announced its quarterly earnings results on Thursday, October 31st. The oil and gas producer reported $0.97 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.67 by $0.30. The business had revenue of $7.62 billion for 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 period last year, the business posted $0.96 EPS. On average, sell-side analysts anticipate that Canadian Natural Resources Limited will post 2.47 EPS for the current fiscal year.

Canadian Natural Resources Increases Dividend

The company also recently declared 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 represents a $1.55 annualized dividend and a dividend yield of 4.59%. This is a positive change 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%.

Analyst Ratings Changes

CNQ has been the topic of several research analyst reports. Desjardins raised Canadian Natural Resources from a “hold” rating to a “moderate buy” rating in a research note on Tuesday, October 8th. StockNews.com lowered Canadian Natural Resources from a “buy” rating to a “hold” rating in a research note on Friday, August 23rd. Five equities research analysts have rated the stock with a hold rating, According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $51.00.

About Canadian Natural Resources

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).