Scheer Rowlett & Associates Investment Management Ltd. Trims Holdings in Canadian Natural Resources Limited (NYSE:CNQ)

Scheer Rowlett & Associates Investment Management Ltd. trimmed its stake in shares of Canadian Natural Resources Limited (NYSE:CNQ) (TSE:CNQ) by 1.2% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 878,345 shares of the oil and gas producer’s stock after selling 11,079 shares during the period. Canadian Natural Resources comprises 2.0% of Scheer Rowlett & Associates Investment Management Ltd.’s holdings, making the stock its 20th largest position. Scheer Rowlett & Associates Investment Management Ltd.’s holdings in Canadian Natural Resources were worth $29,163,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Ontario Teachers Pension Plan Board lifted its stake in shares of Canadian Natural Resources by 322.9% in the 3rd quarter. Ontario Teachers Pension Plan Board now owns 126,812 shares of the oil and gas producer’s stock valued at $4,210,000 after purchasing an additional 96,824 shares during the last quarter. First Horizon Advisors Inc. grew its stake in Canadian Natural Resources by 58.4% during the 3rd quarter. First Horizon Advisors Inc. now owns 1,432 shares of the oil and gas producer’s stock worth $48,000 after buying an additional 528 shares during the last quarter. Advisors Asset Management Inc. grew its stake in Canadian Natural Resources by 4.0% during the 3rd quarter. Advisors Asset Management Inc. now owns 49,142 shares of the oil and gas producer’s stock worth $1,632,000 after buying an additional 1,893 shares during the last quarter. SCP Investment LP purchased a new position in Canadian Natural Resources during the 3rd quarter worth approximately $558,000. Finally, PCJ Investment Counsel Ltd. lifted its position in Canadian Natural Resources by 1.1% during the 3rd quarter. PCJ Investment Counsel Ltd. now owns 121,600 shares of the oil and gas producer’s stock worth $4,037,000 after acquiring an additional 1,290 shares during the period. 74.03% of the stock is owned by institutional investors and hedge funds.

Canadian Natural Resources Stock Performance

CNQ stock traded down $0.08 on Wednesday, reaching $33.59. The company’s stock had a trading volume of 286,711 shares, compared to its average volume of 5,290,913. Canadian Natural Resources Limited has a 52 week low of $29.45 and a 52 week high of $41.29. The company has a market capitalization of $70.89 billion, a P/E ratio of 13.10 and a beta of 1.50. The firm has a fifty day moving average of $34.46 and a two-hundred day moving average of $35.41. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.84 and a quick ratio of 0.53.

Canadian Natural Resources (NYSE:CNQ) (TSE:CNQ) last released its earnings results on Thursday, October 31st. The oil and gas producer reported $0.97 earnings per share for the quarter, topping analysts’ consensus estimates of $0.67 by $0.30. Canadian Natural Resources had a return on equity of 20.07% and a net margin of 18.45%. The firm had revenue of $7.62 billion during the quarter, compared to the consensus estimate of $6.40 billion. During the same period in the prior year, the firm posted $0.96 earnings per share. As a group, analysts predict that Canadian Natural Resources Limited will post 2.44 EPS for the current fiscal year.

Canadian Natural Resources Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, January 3rd. Shareholders of record on Friday, December 13th will be issued a dividend of $0.388 per share. This represents a $1.55 dividend on an annualized basis and a yield of 4.62%. This is a boost from Canadian Natural Resources’s previous quarterly dividend of $0.38. The ex-dividend date is Friday, December 13th. Canadian Natural Resources’s dividend payout ratio is 64.59%.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the company. Desjardins raised Canadian Natural Resources from a “hold” rating to a “moderate buy” rating in a research report on Tuesday, October 8th. StockNews.com downgraded Canadian Natural Resources from a “buy” rating to a “hold” rating in a research report on Friday, August 23rd. Five equities research analysts have rated the stock with a hold rating, According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $51.00.

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).