Canadian Natural Resources Limited $CNQ Stock Sold by Cidel Asset Management Inc.

Cidel Asset Management Inc. cut its holdings in Canadian Natural Resources Limited (NYSE:CNQ) (TSE:CNQ) by 44.1% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 274,902 shares of the oil and gas producer’s stock after selling 216,453 shares during the period. Cidel Asset Management Inc.’s holdings in Canadian Natural Resources were worth $12,959,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of CNQ. Arrowstreet Capital Limited Partnership bought a new stake in shares of Canadian Natural Resources during the 1st quarter valued at $1,411,619,000. Healthcare of Ontario Pension Plan Trust Fund raised its holdings in Canadian Natural Resources by 10.0% in the 1st quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 37,457,500 shares of the oil and gas producer’s stock worth $1,826,578,000 after purchasing an additional 3,397,500 shares during the period. Mufg Securities Canada LTD. raised its holdings in Canadian Natural Resources by 105.7% in the 2nd quarter. Mufg Securities Canada LTD. now owns 6,350,644 shares of the oil and gas producer’s stock worth $250,892,000 after purchasing an additional 3,262,880 shares during the period. Bank of New York Mellon Corp bought a new position in Canadian Natural Resources in the 2nd quarter worth $117,215,000. Finally, Bank of Nova Scotia lifted its position in Canadian Natural Resources by 49.9% during the first quarter. Bank of Nova Scotia now owns 6,565,392 shares of the oil and gas producer’s stock valued at $320,189,000 after purchasing an additional 2,184,892 shares in the last quarter. Hedge funds and other institutional investors own 74.03% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have issued reports on the company. Wall Street Zen raised Canadian Natural Resources from a “hold” rating to a “buy” rating in a report on Saturday, August 15th. TD Securities reaffirmed a “buy” rating on shares of Canadian Natural Resources in a research note on Friday, August 7th. Raymond James Financial downgraded Canadian Natural Resources from an “outperform” rating to a “market perform” rating in a research note on Wednesday, October 14th. Zacks Research raised Canadian Natural Resources from a “hold” rating to a “strong-buy” rating in a research report on Monday, October 5th. Finally, Scotiabank reiterated a “sector perform” rating on shares of Canadian Natural Resources in a research note on Monday, October 19th. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $57.00.

Canadian Natural Resources Stock Performance

NYSE CNQ opened at $56.20 on Friday. The company has a quick ratio of 0.75, a current ratio of 1.00 and a debt-to-equity ratio of 0.32. Canadian Natural Resources Limited has a twelve month low of $30.13 and a twelve month high of $56.27. The business has a 50-day moving average price of $50.76 and a 200-day moving average price of $45.85. The firm has a market cap of $115.49 billion, a price-to-earnings ratio of 13.88 and a beta of 0.53.

Canadian Natural Resources (NYSE:CNQ) (TSE:CNQ) last issued its earnings results on Thursday, August 6th. The oil and gas producer reported $1.58 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.43 by $0.15. Canadian Natural Resources had a return on equity of 23.91% and a net margin of 22.78%. The company had revenue of $14.74 billion for the quarter, compared to the consensus estimate of $9.40 billion. As a group, equities research analysts predict that Canadian Natural Resources Limited will post 4.10 EPS for the current fiscal year.

Canadian Natural Resources Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 2nd. Shareholders of record on Friday, September 11th were issued a dividend of C$0.62 per share. This represents a $2.50 dividend on an annualized basis and a yield of 4.4%. The ex-dividend date of this dividend was Friday, September 11th. Canadian Natural Resources’s dividend payout ratio (DPR) is 44.44%.

Canadian Natural Resources Company Profile

Canadian Natural Resources Limited is an independent energy company engaged in the exploration, development, production, marketing and sale of crude oil, natural gas and natural gas liquids. Its portfolio includes conventional and unconventional petroleum assets, heavy crude oil operations, and oil sands projects that produce bitumen and synthetic crude oil.

The company’s principal operations are located in Western Canada, including oil sands and conventional assets in Alberta and natural gas properties in Alberta and British Columbia.