Mackenzie Financial Corp Has $991.63 Million Holdings in Canadian Natural Resources Limited $CNQ

Mackenzie Financial Corp lessened its position in Canadian Natural Resources Limited (NYSE:CNQ) (TSE:CNQ) by 2.5% in the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 31,019,189 shares of the oil and gas producer’s stock after selling 783,523 shares during the quarter. Canadian Natural Resources makes up about 1.2% of Mackenzie Financial Corp’s holdings, making the stock its 16th biggest holding. Mackenzie Financial Corp owned 1.49% of Canadian Natural Resources worth $991,633,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Addison Advisors LLC grew its position in Canadian Natural Resources by 309.1% during the 2nd quarter. Addison Advisors LLC now owns 896 shares of the oil and gas producer’s stock worth $28,000 after purchasing an additional 677 shares in the last quarter. St. Johns Investment Management Company LLC acquired a new stake in Canadian Natural Resources during the 3rd quarter valued at $32,000. Nisa Investment Advisors LLC lifted its holdings in shares of Canadian Natural Resources by 100.0% in the third 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. lifted its holdings in shares of Canadian Natural Resources by 47.3% in the first quarter. Geneos Wealth Management Inc. now owns 1,644 shares of the oil and gas producer’s stock valued at $51,000 after purchasing an additional 528 shares in the last quarter. Finally, Smartleaf Asset Management LLC boosted its position in shares of Canadian Natural Resources by 3,182.7% in 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 period. Institutional investors and hedge funds own 74.03% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on CNQ shares. Evercore downgraded Canadian Natural Resources from an “outperform” rating to an “in-line” rating in a report on Tuesday, January 6th. 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 upped their target price on Canadian Natural Resources from $61.00 to $65.00 and gave the company an “outperform” rating in a report on Friday, March 6th. Desjardins lowered shares of Canadian Natural Resources from a “buy” rating to a “hold” rating in a research report on Monday, November 24th. Finally, ATB Cormark Capital Markets cut shares of Canadian Natural Resources from a “strong-buy” rating to a “moderate buy” rating in a report on Thursday, March 5th. Six research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, Canadian Natural Resources currently has an average rating of “Hold” and a consensus target price of $50.00.

Canadian Natural Resources Price Performance

Shares of NYSE:CNQ opened at $45.75 on Wednesday. The firm has a market cap of $95.38 billion, a price-to-earnings ratio of 12.40 and a beta of 0.63. Canadian Natural Resources Limited has a 1 year low of $24.65 and a 1 year high of $47.47. The company has a current ratio of 0.95, a quick ratio of 0.53 and a debt-to-equity ratio of 0.36. The business has a fifty day simple moving average of $38.34 and a 200 day simple moving average of $34.37.

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

Canadian Natural Resources Increases Dividend

The company 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. The ex-dividend date is Friday, March 20th. This represents a $2.50 annualized dividend and a dividend yield of 5.5%. This is a positive change from Canadian Natural Resources’s previous quarterly dividend of $0.59. Canadian Natural Resources’s dividend payout ratio is presently 45.53%.

Canadian Natural Resources Company 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.