Lincluden Management Ltd. Sells 48,220 Shares of Canadian Natural Resources Limited $CNQ

Lincluden Management Ltd. lessened its position in Canadian Natural Resources Limited (NYSE:CNQ) (TSE:CNQ) by 6.4% in the third quarter, according to its most recent disclosure with the SEC. The firm owned 700,082 shares of the oil and gas producer’s stock after selling 48,220 shares during the period. Canadian Natural Resources makes up about 2.5% of Lincluden Management Ltd.’s holdings, making the stock its 16th largest position. Lincluden Management Ltd.’s holdings in Canadian Natural Resources were worth $22,253,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of CNQ. St. Johns Investment Management Company LLC bought a new position in shares of Canadian Natural Resources in the 3rd quarter worth $32,000. Nisa Investment Advisors LLC increased its stake in Canadian Natural Resources by 100.0% during the 3rd quarter. Nisa Investment Advisors LLC now owns 1,000 shares of the oil and gas producer’s stock valued at $32,000 after purchasing an additional 500 shares in the last quarter. Geneos Wealth Management Inc. raised its holdings in Canadian Natural Resources by 47.3% during the first quarter. Geneos Wealth Management Inc. now owns 1,644 shares of the oil and gas producer’s stock worth $51,000 after buying an additional 528 shares during the last quarter. Smartleaf Asset Management LLC raised its holdings in Canadian Natural Resources by 3,182.7% during the third quarter. Smartleaf Asset Management LLC now owns 1,707 shares of the oil and gas producer’s stock worth $55,000 after buying an additional 1,655 shares during the last quarter. Finally, HM Payson & Co. lifted its stake in shares of Canadian Natural Resources by 309.8% in the third quarter. HM Payson & Co. now owns 1,762 shares of the oil and gas producer’s stock valued at $56,000 after buying an additional 1,332 shares in the last quarter. 74.03% of the stock is owned by institutional investors and hedge funds.

Canadian Natural Resources Stock Performance

CNQ stock opened at $48.75 on Tuesday. The company has a quick ratio of 0.63, a current ratio of 0.95 and a debt-to-equity ratio of 0.36. The firm has a market cap of $101.63 billion, a PE ratio of 13.21 and a beta of 0.62. The business has a 50 day moving average of $39.52 and a 200-day moving average of $34.85. Canadian Natural Resources Limited has a 12-month low of $24.65 and a 12-month high of $49.07.

Canadian Natural Resources (NYSE:CNQ) (TSE:CNQ) last issued its quarterly earnings results on Thursday, March 5th. The oil and gas producer reported $0.59 EPS for the quarter, topping analysts’ consensus estimates of $0.53 by $0.06. The business had revenue of $6.89 billion for the quarter, compared to analyst estimates of $6.64 billion. Canadian Natural Resources had a return on equity of 17.84% and a net margin of 24.48%.During the same period last year, the company posted $0.93 earnings per share. As a group, sell-side analysts expect that Canadian Natural Resources Limited will post 2.45 earnings per share for the current year.

Canadian Natural Resources Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 7th. Investors of record on Friday, March 20th will be issued a $0.625 dividend. This is an increase from Canadian Natural Resources’s previous quarterly dividend of $0.59. The ex-dividend date of this dividend is Friday, March 20th. This represents a $2.50 dividend on an annualized basis and a dividend yield of 5.1%. Canadian Natural Resources’s payout ratio is presently 45.53%.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the stock. ATB Cormark Capital Markets lowered shares of Canadian Natural Resources from a “strong-buy” rating to a “moderate buy” rating in a report on Thursday, March 5th. Evercore lowered Canadian Natural Resources from an “outperform” rating to an “in-line” rating in a report on Tuesday, January 6th. Wall Street Zen raised Canadian Natural Resources from a “sell” rating to a “hold” rating in a research report on Saturday, January 31st. Desjardins cut Canadian Natural Resources from a “buy” rating to a “hold” rating in a research note on Monday, November 24th. Finally, Royal Bank Of Canada lifted their price objective on shares of Canadian Natural Resources from $61.00 to $65.00 and gave the stock an “outperform” rating in a report on Friday, March 6th. Six equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Canadian Natural Resources has an average rating of “Hold” and a consensus price target of $57.00.

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.