Mufg Securities Canada LTD. Lowers Stock Holdings in Canadian Natural Resources Limited $CNQ

Mufg Securities Canada LTD. decreased its position in shares of Canadian Natural Resources Limited (NYSE:CNQ) (TSE:CNQ) by 8.2% during the fourth quarter, Holdings Channel reports. The institutional investor owned 3,171,955 shares of the oil and gas producer’s stock after selling 284,974 shares during the period. Canadian Natural Resources makes up approximately 3.0% of Mufg Securities Canada LTD.’s investment portfolio, making the stock its 12th biggest position. Mufg Securities Canada LTD.’s holdings in Canadian Natural Resources were worth $107,462,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of CNQ. Capital Research Global Investors lifted its stake in shares of Canadian Natural Resources by 31.5% during the 4th quarter. Capital Research Global Investors now owns 146,331,336 shares of the oil and gas producer’s stock valued at $4,956,204,000 after buying an additional 35,067,143 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its stake in shares of Canadian Natural Resources by 179.2% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 11,616,347 shares of the oil and gas producer’s stock valued at $393,213,000 after buying an additional 7,455,286 shares in the last quarter. Vanguard Group Inc. lifted its stake in shares of 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 valued at $2,957,252,000 after buying an additional 1,744,290 shares in the last quarter. Bank of Nova Scotia lifted its stake in shares of Canadian Natural Resources by 58.8% during the 4th quarter. Bank of Nova Scotia now owns 4,380,500 shares of the oil and gas producer’s stock valued at $148,368,000 after buying an additional 1,622,215 shares in the last quarter. Finally, Bank of America Corp DE boosted its position in shares of Canadian Natural Resources by 17.6% during the third quarter. Bank of America Corp DE now owns 9,172,873 shares of the oil and gas producer’s stock worth $293,165,000 after acquiring an additional 1,371,122 shares during the last quarter. Hedge funds and other institutional investors own 74.03% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on CNQ. Scotiabank restated an “outperform” rating on shares of Canadian Natural Resources in a research report on Wednesday, May 20th. Raymond James Financial upgraded shares of Canadian Natural Resources from a “market perform” rating to an “outperform” rating in a research report on Thursday, May 7th. Zacks Research lowered shares of Canadian Natural Resources from a “strong-buy” rating to a “hold” rating in a research report on Monday, June 8th. Royal Bank Of Canada upped their target price 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, March 6th. Finally, Weiss Ratings lowered shares of Canadian Natural Resources from a “buy (b)” rating to a “buy (b-)” rating in a research report on Monday, May 11th. Seven analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $57.00.

Canadian Natural Resources Trading Up 0.0%

CNQ stock opened at $45.32 on Monday. The company has a market capitalization of $94.33 billion, a PE ratio of 13.53 and a beta of 0.45. Canadian Natural Resources Limited has a 12 month low of $29.30 and a 12 month high of $51.34. The firm’s 50-day moving average is $46.46 and its 200 day moving average is $41.43. The company has a debt-to-equity ratio of 0.37, a current ratio of 0.98 and a quick ratio of 0.68.

Canadian Natural Resources (NYSE:CNQ) (TSE:CNQ) last posted its quarterly earnings results on Thursday, May 7th. The oil and gas producer reported $0.85 EPS for the quarter, topping the consensus estimate of $0.74 by $0.11. The company had revenue of $7.72 billion for the quarter, compared to the consensus estimate of $7.57 billion. Canadian Natural Resources had a net margin of 22.04% and a return on equity of 17.49%. During the same quarter last year, the firm posted $1.16 EPS. On average, research analysts anticipate that Canadian Natural Resources Limited will post 4.2 EPS for the current year.

Canadian Natural Resources Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 7th. Investors of record on Tuesday, June 23rd will be paid a $0.625 dividend. This represents a $2.50 annualized dividend and a yield of 5.5%. The ex-dividend date of this dividend is Tuesday, June 23rd. Canadian Natural Resources’s dividend payout ratio (DPR) is currently 54.03%.

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.