The Manufacturers Life Insurance Company Has $855.41 Million Position in Canadian Natural Resources Limited $CNQ

The Manufacturers Life Insurance Company increased its stake in Canadian Natural Resources Limited (NYSE:CNQ) (TSE:CNQ) by 10.3% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 27,359,777 shares of the oil and gas producer’s stock after purchasing an additional 2,546,233 shares during the period. Canadian Natural Resources accounts for 0.8% of The Manufacturers Life Insurance Company’s portfolio, making the stock its 16th largest holding. The Manufacturers Life Insurance Company owned about 1.31% of Canadian Natural Resources worth $855,414,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently bought and sold shares of CNQ. MAI Capital Management increased its stake in shares of Canadian Natural Resources by 9.6% in the 1st quarter. MAI Capital Management now owns 4,365 shares of the oil and gas producer’s stock valued at $134,000 after buying an additional 382 shares during the period. Haven Private LLC lifted its stake in shares of Canadian Natural Resources by 3.4% during the second quarter. Haven Private LLC now owns 11,617 shares of the oil and gas producer’s stock valued at $365,000 after acquiring an additional 383 shares during the period. King Luther Capital Management Corp boosted its holdings in Canadian Natural Resources by 1.2% in the second quarter. King Luther Capital Management Corp now owns 32,283 shares of the oil and gas producer’s stock valued at $1,014,000 after acquiring an additional 387 shares during the last quarter. Kingsview Wealth Management LLC increased its position in Canadian Natural Resources by 5.7% in the second quarter. Kingsview Wealth Management LLC now owns 8,109 shares of the oil and gas producer’s stock worth $255,000 after purchasing an additional 434 shares during the period. Finally, Thurston Springer Miller Herd & Titak Inc. increased its position in Canadian Natural Resources by 8.7% in the second quarter. Thurston Springer Miller Herd & Titak Inc. now owns 5,613 shares of the oil and gas producer’s stock worth $176,000 after purchasing an additional 448 shares during the period. Institutional investors and hedge funds own 74.03% of the company’s stock.

Canadian Natural Resources Stock Down 0.0%

Shares of NYSE CNQ opened at $33.73 on Thursday. Canadian Natural Resources Limited has a 52-week low of $24.65 and a 52-week high of $35.12. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.53 and a current ratio of 0.86. The stock has a market cap of $70.26 billion, a P/E ratio of 14.92 and a beta of 0.70. The firm has a 50 day moving average price of $32.39 and a 200 day moving average price of $31.82.

Canadian Natural Resources (NYSE:CNQ) (TSE:CNQ) last posted its earnings results on Thursday, November 6th. The oil and gas producer reported $0.62 earnings per share for the quarter, topping the consensus estimate of $0.54 by $0.08. The company had revenue of $6.79 billion for the quarter, compared to analyst estimates of $6.81 billion. Canadian Natural Resources had a net margin of 14.90% and a return on equity of 18.93%. During the same period last year, the business posted $0.97 earnings per share. Analysts expect that Canadian Natural Resources Limited will post 2.45 EPS for the current year.

Canadian Natural Resources Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 6th. Investors of record on Friday, December 12th will be paid a dividend of $0.5875 per share. This represents a $2.35 annualized dividend and a yield of 7.0%. The ex-dividend date of this dividend is Friday, December 12th. This is a boost from Canadian Natural Resources’s previous quarterly dividend of $0.43. Canadian Natural Resources’s dividend payout ratio (DPR) is 75.66%.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on CNQ. Desjardins downgraded shares of Canadian Natural Resources from a “buy” rating to a “hold” rating in a research report on Monday, November 24th. Zacks Research raised shares of Canadian Natural Resources from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, August 26th. Weiss Ratings restated a “hold (c)” rating on shares of Canadian Natural Resources in a report on Wednesday, October 8th. TD Securities reaffirmed a “buy” rating on shares of Canadian Natural Resources in a report on Tuesday, September 30th. Finally, Scotiabank reiterated an “outperform” rating on shares of Canadian Natural Resources in a research report on Thursday, October 9th. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and five have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $62.00.

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).