Massachusetts Financial Services Co. MA Decreases Stock Position in Canadian Natural Resources Limited (NYSE:CNQ)

Massachusetts Financial Services Co. MA lessened its stake in shares of Canadian Natural Resources Limited (NYSE:CNQ) (TSE:CNQ) by 1.8% in the 3rd quarter, Holdings Channel reports. The firm owned 4,583,283 shares of the oil and gas producer’s stock after selling 85,565 shares during the period. Massachusetts Financial Services Co. MA’s holdings in Canadian Natural Resources were worth $152,211,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the company. RFP Financial Group LLC lifted its position in shares of Canadian Natural Resources by 98.3% in the second quarter. RFP Financial Group LLC now owns 710 shares of the oil and gas producer’s stock worth $25,000 after buying an additional 352 shares in the last quarter. Park Place Capital Corp raised its holdings in shares of Canadian Natural Resources by 100.0% during the 2nd quarter. Park Place Capital Corp now owns 716 shares of the oil and gas producer’s stock worth $25,000 after acquiring an additional 358 shares in the last quarter. Sugarloaf Wealth Management LLC boosted its position in shares of Canadian Natural Resources by 100.0% during the 2nd quarter. Sugarloaf Wealth Management LLC now owns 728 shares of the oil and gas producer’s stock valued at $26,000 after acquiring an additional 364 shares during the last quarter. Bruce G. Allen Investments LLC grew its holdings in shares of Canadian Natural Resources by 91.6% in the second quarter. Bruce G. Allen Investments LLC now owns 868 shares of the oil and gas producer’s stock valued at $31,000 after purchasing an additional 415 shares in the last quarter. Finally, GAMMA Investing LLC increased its position in Canadian Natural Resources by 104.7% in the second quarter. GAMMA Investing LLC now owns 874 shares of the oil and gas producer’s stock worth $31,000 after purchasing an additional 447 shares during the last quarter. Hedge funds and other institutional investors own 74.03% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have commented on CNQ shares. Desjardins upgraded shares of Canadian Natural Resources from a “hold” rating to a “moderate buy” rating in a research report on Tuesday, October 8th. StockNews.com lowered Canadian Natural Resources from a “buy” rating to a “hold” rating in a research report on Friday, August 23rd. Five investment analysts have rated the stock with a hold rating, According to MarketBeat.com, Canadian Natural Resources presently has a consensus rating of “Hold” and an average target price of $51.00.

Canadian Natural Resources Trading Up 0.8 %

CNQ stock opened at $34.84 on Friday. Canadian Natural Resources Limited has a twelve month low of $29.45 and a twelve month high of $41.29. The stock has a market capitalization of $73.53 billion, a price-to-earnings ratio of 13.53 and a beta of 1.50. The company has a quick ratio of 0.53, a current ratio of 0.84 and a debt-to-equity ratio of 0.21. The firm’s fifty day simple moving average is $34.59 and its two-hundred day simple moving average is $35.35.

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

Canadian Natural Resources Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 3rd. Investors of record on Friday, December 13th will be paid a dividend of $0.388 per share. This is a positive change from Canadian Natural Resources’s previous quarterly dividend of $0.38. This represents a $1.55 dividend on an annualized basis and a dividend yield of 4.45%. The ex-dividend date is Friday, December 13th. Canadian Natural Resources’s dividend payout ratio (DPR) is currently 60.58%.

Canadian Natural Resources Company 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).