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

Lincluden Management Ltd. lowered its stake in shares of Canadian Natural Resources Limited (NYSE:CNQ) (TSE:CNQ) by 6.4% in the 3rd quarter, HoldingsChannel reports. The firm owned 700,082 shares of the oil and gas producer’s stock after selling 48,220 shares during the quarter. Canadian Natural Resources accounts for 2.5% of Lincluden Management Ltd.’s portfolio, making the stock its 16th biggest position. Lincluden Management Ltd.’s holdings in Canadian Natural Resources were worth $22,253,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. St. Johns Investment Management Company LLC purchased a new position in Canadian Natural Resources in the third quarter valued at approximately $32,000. Nisa Investment Advisors LLC increased its position in 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 worth $32,000 after buying an additional 500 shares during the last quarter. Geneos Wealth Management Inc. raised its stake 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 buying an additional 528 shares during the period. Smartleaf Asset Management LLC raised its stake 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 valued at $55,000 after buying an additional 1,655 shares during the period. Finally, HM Payson & Co. lifted its position in shares of Canadian Natural Resources by 309.8% during the 3rd 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 during the last quarter. Institutional investors own 74.03% of the company’s stock.

Canadian Natural Resources Stock Performance

NYSE:CNQ opened at $48.75 on Tuesday. The business’s fifty day moving average is $39.52 and its 200 day moving average is $34.85. The firm has a market cap of $101.63 billion, a price-to-earnings ratio of 13.21 and a beta of 0.62. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.63 and a current ratio of 0.95. Canadian Natural Resources Limited has a 52-week low of $24.65 and a 52-week high of $49.07.

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, topping the consensus estimate of $0.53 by $0.06. The business had revenue of $6.89 billion during the quarter, compared to the consensus estimate 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 quarter last year, the company earned $0.93 EPS. Research analysts predict that Canadian Natural Resources Limited will post 2.45 EPS for the current year.

Canadian Natural Resources Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 7th. Stockholders of record on Friday, March 20th will be given a $0.625 dividend. This represents a $2.50 dividend on an annualized basis and a dividend yield of 5.1%. This is an increase 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 45.53%.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on CNQ shares. Royal Bank Of Canada increased their price target on Canadian Natural Resources from $61.00 to $65.00 and gave the stock an “outperform” rating in a research note on Friday, March 6th. Wall Street Zen upgraded shares of Canadian Natural Resources from a “sell” rating to a “hold” rating in a research report on Saturday, January 31st. Evercore downgraded shares of Canadian Natural Resources from an “outperform” rating to an “in-line” rating in a research note on Tuesday, January 6th. The Goldman Sachs Group boosted their price target on shares of Canadian Natural Resources from $37.00 to $49.00 and gave the company a “buy” rating in a research report on Thursday, March 12th. Finally, Zacks Research cut shares of Canadian Natural Resources from a “hold” rating to a “strong sell” rating in a research note on Friday, March 6th. Six analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $57.00.

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.