Mackenzie Financial Corp Decreases Stake in Canadian Natural Resources Limited (NYSE:CNQ)

Mackenzie Financial Corp lessened its stake in shares of Canadian Natural Resources Limited (NYSE:CNQ) (TSE:CNQ) by 8.1% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 15,707,050 shares of the oil and gas producer’s stock after selling 1,382,491 shares during the quarter. Canadian Natural Resources makes up 1.6% of Mackenzie Financial Corp’s holdings, making the stock its 9th biggest holding. Mackenzie Financial Corp owned approximately 1.46% of Canadian Natural Resources worth $1,029,545,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Dakota Wealth Management grew its stake in shares of Canadian Natural Resources by 41.9% in the fourth quarter. Dakota Wealth Management now owns 75,338 shares of the oil and gas producer’s stock worth $4,936,000 after purchasing an additional 22,250 shares during the last quarter. Conning Inc. grew its stake in shares of Canadian Natural Resources by 2.2% in the fourth quarter. Conning Inc. now owns 31,261 shares of the oil and gas producer’s stock worth $2,048,000 after purchasing an additional 666 shares during the last quarter. Vontobel Holding Ltd. grew its stake in shares of Canadian Natural Resources by 23.1% in the fourth quarter. Vontobel Holding Ltd. now owns 9,400 shares of the oil and gas producer’s stock worth $616,000 after purchasing an additional 1,764 shares during the last quarter. WCM Investment Management LLC grew its stake in shares of Canadian Natural Resources by 9,297.9% in the fourth quarter. WCM Investment Management LLC now owns 2,192,895 shares of the oil and gas producer’s stock worth $143,284,000 after purchasing an additional 2,169,561 shares during the last quarter. Finally, AlphaQ Advisors LLC grew its stake in shares of Canadian Natural Resources by 27.9% in the fourth quarter. AlphaQ Advisors LLC now owns 8,090 shares of the oil and gas producer’s stock worth $530,000 after purchasing an additional 1,763 shares during the last quarter. Institutional investors own 74.03% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, JPMorgan Chase & Co. boosted their price objective on shares of Canadian Natural Resources from $101.00 to $102.00 and gave the stock a “neutral” rating in a research note on Thursday, January 11th. Five analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $94.00.

Canadian Natural Resources Trading Down 1.9 %

CNQ stock traded down $1.54 during midday trading on Monday, hitting $77.69. The stock had a trading volume of 2,244,297 shares, compared to its average volume of 3,238,710. The firm has a market cap of $83.29 billion, a P/E ratio of 14.27 and a beta of 1.54. The company has a current ratio of 0.96, a quick ratio of 0.69 and a debt-to-equity ratio of 0.25. Canadian Natural Resources Limited has a 1-year low of $52.66 and a 1-year high of $82.58. The business has a fifty day moving average price of $70.87 and a two-hundred day moving average price of $66.85.

Canadian Natural Resources (NYSE:CNQ) (TSE:CNQ) last released its earnings results on Thursday, February 29th. The oil and gas producer reported $1.72 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.59 by $0.13. The business had revenue of $7.02 billion for the quarter, compared to analyst estimates of $6.73 billion. Canadian Natural Resources had a net margin of 20.15% and a return on equity of 21.74%. On average, sell-side analysts predict that Canadian Natural Resources Limited will post 5.52 earnings per share for the current fiscal year.

Canadian Natural Resources Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, April 5th. Investors of record on Friday, March 15th were issued a $0.774 dividend. This is a positive change from Canadian Natural Resources’s previous quarterly dividend of $0.72. The ex-dividend date was Thursday, March 14th. This represents a $3.10 annualized dividend and a yield of 3.99%. Canadian Natural Resources’s payout ratio is presently 53.25%.

Canadian Natural Resources Profile

Canadian Natural Resources Limited acquires, explores for, develops, produces, markets, and sells crude oil, natural gas, and natural gas liquids (NGLs). The company offers light and medium crude oil, primary heavy crude oil, Pelican Lake heavy crude oil, bitumen (thermal oil), and synthetic crude oil (SCO).