Gulf International Bank UK Ltd reduced its holdings in Canadian Natural Resources Ltd (NYSE:CNQ) (TSE:CNQ) by 11.6% during the third quarter, Holdings Channel.com reports. The fund owned 19,511 shares of the oil and gas producer’s stock after selling 2,549 shares during the quarter. Gulf International Bank UK Ltd’s holdings in Canadian Natural Resources were worth $519,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently bought and sold shares of CNQ. MUFG Securities EMEA plc purchased a new position in shares of Canadian Natural Resources in the 2nd quarter worth about $123,576,000. Caisse DE Depot ET Placement DU Quebec boosted its holdings in shares of Canadian Natural Resources by 23.8% in the 1st quarter. Caisse DE Depot ET Placement DU Quebec now owns 18,000,000 shares of the oil and gas producer’s stock worth $494,345,000 after purchasing an additional 3,455,000 shares in the last quarter. Hexavest Inc. boosted its holdings in shares of Canadian Natural Resources by 774.9% in the 2nd quarter. Hexavest Inc. now owns 2,225,857 shares of the oil and gas producer’s stock worth $60,145,000 after purchasing an additional 1,971,455 shares in the last quarter. Alberta Investment Management Corp boosted its holdings in shares of Canadian Natural Resources by 61.9% in the 2nd quarter. Alberta Investment Management Corp now owns 4,604,838 shares of the oil and gas producer’s stock worth $162,597,000 after purchasing an additional 1,760,600 shares in the last quarter. Finally, National Pension Service purchased a new position in shares of Canadian Natural Resources in the 2nd quarter worth about $55,410,000. Hedge funds and other institutional investors own 65.10% of the company’s stock.
A number of equities analysts have recently issued reports on the company. Credit Suisse Group set a $48.00 price objective on Canadian Natural Resources and gave the stock a “buy” rating in a report on Tuesday, September 10th. National Bank Financial cut Canadian Natural Resources from an “outperform” rating to a “sector perform” rating in a report on Wednesday, October 2nd. Zacks Investment Research cut Canadian Natural Resources from a “buy” rating to a “hold” rating and set a $28.00 price objective for the company. in a report on Monday, July 22nd. Tudor Pickering cut Canadian Natural Resources from a “buy” rating to a “hold” rating in a report on Tuesday. Finally, ValuEngine upgraded Canadian Natural Resources from a “hold” rating to a “buy” rating in a report on Monday, September 16th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and thirteen have assigned a buy rating to the company. The company presently has an average rating of “Buy” and a consensus price target of $40.71.
Canadian Natural Resources (NYSE:CNQ) (TSE:CNQ) last issued its earnings results on Thursday, August 1st. The oil and gas producer reported $0.87 earnings per share for the quarter, beating the consensus estimate of $0.62 by $0.25. The company had revenue of $4.16 billion during the quarter, compared to analysts’ expectations of $4.36 billion. Canadian Natural Resources had a return on equity of 8.62% and a net margin of 22.22%. During the same period in the prior year, the business posted $1.04 EPS. Analysts anticipate that Canadian Natural Resources Ltd will post 2.4 EPS for the current year.
The business also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Investors of record on Friday, September 13th were issued a dividend of $0.284 per share. The ex-dividend date of this dividend was Thursday, September 12th. This is a boost from Canadian Natural Resources’s previous quarterly dividend of $0.28. This represents a $1.14 annualized dividend and a yield of 4.46%. Canadian Natural Resources’s dividend payout ratio is currently 52.56%.
Canadian Natural Resources Company Profile
Canadian Natural Resources Limited explores for, develops, produces, and markets crude oil, natural gas, and natural gas liquids (NGLs). The company offers synthetic crude oil (SCO), light and medium crude oil, bitumen (thermal oil), primary heavy crude oil, and Pelican Lake heavy crude oil. Its midstream assets include two crude oil pipeline systems; and a 50% working interest in an 84-megawatt cogeneration plant at Primrose.
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