QV Investors Inc. Sells 30,210 Shares of Canadian Natural Resources Limited $CNQ

QV Investors Inc. decreased its stake in shares of Canadian Natural Resources Limited (NYSE:CNQ) (TSE:CNQ) by 5.3% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 534,597 shares of the oil and gas producer’s stock after selling 30,210 shares during the quarter. Canadian Natural Resources comprises approximately 1.6% of QV Investors Inc.’s investment portfolio, making the stock its 20th largest holding. QV Investors Inc.’s holdings in Canadian Natural Resources were worth $21,147,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Capital Research Global Investors lifted its position 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 acquiring an additional 35,067,143 shares during the period. Fisher Asset Management LLC increased its stake in Canadian Natural Resources by 3.2% in the fourth quarter. Fisher Asset Management LLC now owns 42,745,981 shares of the oil and gas producer’s stock valued at $1,446,951,000 after purchasing an additional 1,342,954 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund raised its holdings in shares of Canadian Natural Resources by 10.0% during the first quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 37,457,500 shares of the oil and gas producer’s stock valued at $1,826,578,000 after purchasing an additional 3,397,500 shares during the period. Arrowstreet Capital Limited Partnership acquired a new position in shares of Canadian Natural Resources during the first quarter valued at about $1,411,619,000. Finally, Geode Capital Management LLC boosted its position in shares of Canadian Natural Resources by 7.0% during the 4th quarter. Geode Capital Management LLC now owns 20,518,621 shares of the oil and gas producer’s stock worth $710,119,000 after purchasing an additional 1,347,844 shares in the last quarter. Institutional investors own 74.03% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently commented on the company. Raymond James Financial raised Canadian Natural Resources from a “market perform” rating to an “outperform” rating in a research report on Thursday, May 7th. Canadian Imperial Bank of Commerce restated an “outperform” rating on shares of Canadian Natural Resources in a report on Thursday. Wall Street Zen raised Canadian Natural Resources from a “hold” rating to a “buy” rating in a research report on Saturday, August 15th. TD Securities reiterated a “buy” rating on shares of Canadian Natural Resources in a report on Friday, August 7th. Finally, Weiss Ratings raised shares of Canadian Natural Resources from a “buy (b-)” rating to a “buy (b)” rating in a research report on Friday, August 21st. Seven investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $57.00.

Canadian Natural Resources Trading Up 0.2%

CNQ opened at $49.07 on Monday. Canadian Natural Resources Limited has a fifty-two week low of $29.68 and a fifty-two week high of $51.47. The firm has a market capitalization of $101.20 billion, a PE ratio of 12.12 and a beta of 0.46. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.00 and a quick ratio of 0.75. The company’s 50-day moving average is $44.89 and its 200 day moving average is $45.48.

Canadian Natural Resources (NYSE:CNQ) (TSE:CNQ) last released its quarterly earnings results on Thursday, August 6th. The oil and gas producer reported $1.58 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.43 by $0.15. The business had revenue of $14.74 billion during the quarter, compared to the consensus estimate of $9.40 billion. Canadian Natural Resources had a return on equity of 23.91% and a net margin of 22.78%. As a group, research analysts predict that Canadian Natural Resources Limited will post 4.05 earnings per share for the current fiscal year.

Canadian Natural Resources Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, October 2nd. Investors of record on Friday, September 11th will be given a dividend of $0.625 per share. The ex-dividend date of this dividend is Friday, September 11th. This represents a $2.50 annualized dividend and a dividend yield of 5.1%. Canadian Natural Resources’s payout ratio is presently 44.69%.

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.