Dixon Mitchell Investment Counsel Inc. Sells 21,520 Shares of Canadian Natural Resources Limited $CNQ

Dixon Mitchell Investment Counsel Inc. trimmed its stake in shares of Canadian Natural Resources Limited (NYSE:CNQ) (TSE:CNQ) by 1.0% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,151,019 shares of the oil and gas producer’s stock after selling 21,520 shares during the quarter. Canadian Natural Resources accounts for 2.5% of Dixon Mitchell Investment Counsel Inc.’s portfolio, making the stock its 16th largest holding. Dixon Mitchell Investment Counsel Inc. owned approximately 0.10% of Canadian Natural Resources worth $69,824,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the stock. Tacita Capital Inc raised its holdings in shares of Canadian Natural Resources by 6.1% in the 3rd quarter. Tacita Capital Inc now owns 5,753 shares of the oil and gas producer’s stock worth $184,000 after buying an additional 330 shares in the last quarter. King Luther Capital Management Corp boosted its stake in Canadian Natural Resources by 1.2% in the 2nd 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 buying an additional 387 shares in the last quarter. Frank Rimerman Advisors LLC boosted its stake in Canadian Natural Resources by 2.2% in the 3rd quarter. Frank Rimerman Advisors LLC now owns 17,886 shares of the oil and gas producer’s stock valued at $572,000 after buying an additional 390 shares in the last quarter. EverSource Wealth Advisors LLC grew its position in Canadian Natural Resources by 9.4% in the third quarter. EverSource Wealth Advisors LLC now owns 4,939 shares of the oil and gas producer’s stock valued at $158,000 after acquiring an additional 426 shares during the period. Finally, Kingsview Wealth Management LLC grew 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 valued at $255,000 after acquiring an additional 434 shares during the period. 74.03% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

CNQ has been the subject of a number of analyst reports. ATB Cormark Capital Markets cut Canadian Natural Resources from a “strong-buy” rating to a “moderate buy” rating in a report on Thursday, March 5th. Desjardins lowered shares of Canadian Natural Resources from a “buy” rating to a “hold” rating in a report on Monday, November 24th. Wall Street Zen upgraded shares of Canadian Natural Resources from a “sell” rating to a “hold” rating in a research report on Saturday, January 31st. Royal Bank Of Canada lifted their price target on shares of Canadian Natural Resources from $61.00 to $65.00 and gave the company an “outperform” rating in a report on Friday. Finally, Zacks Research lowered shares of Canadian Natural Resources from a “hold” rating to a “strong sell” rating in a research report on Friday. Six research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Canadian Natural Resources presently has an average rating of “Hold” and an average target price of $50.00.

Canadian Natural Resources Price Performance

Canadian Natural Resources stock opened at $46.21 on Tuesday. The business’s fifty day moving average is $38.11 and its two-hundred day moving average is $34.27. 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 firm has a market cap of $96.32 billion, a P/E ratio of 12.52 and a beta of 0.62. Canadian Natural Resources Limited has a 52 week low of $24.65 and a 52 week high of $47.47.

Canadian Natural Resources (NYSE:CNQ) (TSE:CNQ) last announced its earnings results on Thursday, March 5th. The oil and gas producer reported $0.59 earnings per share for the quarter, beating analysts’ consensus estimates of $0.53 by $0.06. Canadian Natural Resources had a return on equity of 18.24% and a net margin of 24.48%.The company had revenue of $6.89 billion during the quarter, compared to analyst estimates of $6.64 billion. During the same period last year, the company posted $0.93 earnings per share. Equities research analysts forecast that Canadian Natural Resources Limited will post 2.45 earnings per share for the current fiscal year.

Canadian Natural Resources Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 7th. Shareholders of record on Friday, March 20th will be given a $0.625 dividend. This represents a $2.50 annualized dividend and a yield of 5.4%. The ex-dividend date is Friday, March 20th. This is a boost from Canadian Natural Resources’s previous quarterly dividend of $0.59. Canadian Natural Resources’s dividend payout ratio is 45.53%.

Canadian Natural Resources Profile

Canadian Natural Resources Limited (NYSE: CNQ) is a Calgary-based independent oil and natural gas exploration and production company. Established in the early 1970s and publicly listed in Canada and the United States, the company is principally engaged in the exploration, development, production, and marketing of crude oil, natural gas and natural gas liquids. Its asset base spans conventional and unconventional reservoirs and includes oil sands mining and in-situ thermal projects, midstream processing and upgrading capacity, and related field operations.

The company’s operations are concentrated in Western Canada, where it develops heavy crude, bitumen from oil sands and conventional light crude and natural gas resources.