Capital Research Global Investors Sells 62,510 Shares of Canadian Natural Resources Limited $CNQ

Capital Research Global Investors cut its holdings in shares of Canadian Natural Resources Limited (NYSE:CNQ) (TSE:CNQ) by 0.1% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 111,264,193 shares of the oil and gas producer’s stock after selling 62,510 shares during the period. Capital Research Global Investors owned approximately 0.05% of Canadian Natural Resources worth $3,557,615,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently modified their holdings of CNQ. Vanguard Group Inc. increased its stake in Canadian Natural Resources by 1.9% during the 3rd quarter. Vanguard Group Inc. now owns 92,486,389 shares of the oil and gas producer’s stock worth $2,957,252,000 after purchasing an additional 1,744,290 shares in the last quarter. Fisher Asset Management LLC raised its holdings in shares of Canadian Natural Resources by 4.5% during the second quarter. Fisher Asset Management LLC now owns 47,939,585 shares of the oil and gas producer’s stock worth $1,505,303,000 after acquiring an additional 2,051,714 shares during the period. The Manufacturers Life Insurance Company lifted its position in Canadian Natural Resources by 10.3% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 27,359,777 shares of the oil and gas producer’s stock valued at $855,414,000 after acquiring an additional 2,546,233 shares in the last quarter. Geode Capital Management LLC boosted its stake in Canadian Natural Resources by 19.8% in the 2nd quarter. Geode Capital Management LLC now owns 17,146,792 shares of the oil and gas producer’s stock worth $548,214,000 after purchasing an additional 2,832,155 shares during the period. Finally, JPMorgan Chase & Co. increased its holdings in Canadian Natural Resources by 2.9% during the 2nd quarter. JPMorgan Chase & Co. now owns 14,092,637 shares of the oil and gas producer’s stock worth $442,509,000 after purchasing an additional 399,945 shares in the last quarter. Institutional investors and hedge funds own 74.03% of the company’s stock.

Canadian Natural Resources Stock Performance

Shares of NYSE CNQ opened at $46.21 on Tuesday. The stock’s fifty day moving average price is $38.11 and its two-hundred day moving average price is $34.27. The firm has a market cap of $96.32 billion, a price-to-earnings ratio of 12.52 and a beta of 0.62. Canadian Natural Resources Limited has a one year low of $24.65 and a one year high of $47.47. The company has a debt-to-equity ratio of 0.41, a current ratio of 0.86 and a quick ratio of 0.53.

Canadian Natural Resources (NYSE:CNQ) (TSE:CNQ) last released 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. Canadian Natural Resources had a net margin of 24.48% and a return on equity of 18.24%. The business had revenue of $6.89 billion for the quarter, compared to analyst estimates of $6.64 billion. During the same period last year, the firm earned $0.93 earnings per share. On average, equities analysts forecast that Canadian Natural Resources Limited will post 2.45 EPS 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. Stockholders of record on Friday, March 20th will be issued a dividend of $0.625 per share. This represents a $2.50 annualized dividend and a dividend yield of 5.4%. This is a boost from Canadian Natural Resources’s previous quarterly dividend of $0.59. The ex-dividend date is Friday, March 20th. Canadian Natural Resources’s dividend payout ratio (DPR) is currently 45.53%.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on CNQ. The Goldman Sachs Group set a $35.00 price objective on Canadian Natural Resources and gave the stock a “buy” rating in a research report on Friday, January 2nd. Royal Bank Of Canada boosted their price objective on shares of Canadian Natural Resources from $61.00 to $65.00 and gave the stock an “outperform” rating in a research report on Friday. ATB Cormark Capital Markets lowered shares of Canadian Natural Resources from a “strong-buy” rating to a “moderate buy” rating in a research note on Thursday, March 5th. Desjardins downgraded shares of Canadian Natural Resources from a “buy” rating to a “hold” rating in a research note on Monday, November 24th. Finally, Zacks Research lowered Canadian Natural Resources from a “hold” rating to a “strong sell” rating in a report on Friday. Six investment analysts have rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, Canadian Natural Resources has an average rating of “Hold” and a consensus target price of $50.00.

About Canadian Natural Resources

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.