Marathon Asset Management Ltd Has $69.63 Million Holdings in Canadian Natural Resources Limited (NYSE:CNQ)

Marathon Asset Management Ltd lessened its stake in shares of Canadian Natural Resources Limited (NYSE:CNQ) (TSE:CNQ) by 1.1% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,069,882 shares of the oil and gas producer’s stock after selling 22,396 shares during the quarter. Canadian Natural Resources comprises 1.9% of Marathon Asset Management Ltd’s investment portfolio, making the stock its 12th biggest holding. Marathon Asset Management Ltd owned about 0.10% of Canadian Natural Resources worth $69,627,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also bought and sold shares of the company. Park Place Capital Corp lifted its position in shares of Canadian Natural Resources by 100.0% during the second 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. RFP Financial Group LLC boosted its position in Canadian Natural Resources by 98.3% during the second quarter. RFP Financial Group LLC now owns 710 shares of the oil and gas producer’s stock valued at $25,000 after buying an additional 352 shares during the period. Sugarloaf Wealth Management LLC increased its stake in Canadian Natural Resources by 100.0% in the 2nd quarter. Sugarloaf Wealth Management LLC now owns 728 shares of the oil and gas producer’s stock worth $26,000 after purchasing an additional 364 shares during the period. Bruce G. Allen Investments LLC increased its stake 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 worth $31,000 after buying an additional 415 shares during the period. Finally, GAMMA Investing LLC increased its position in shares of 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 valued at $31,000 after acquiring an additional 447 shares during the period. Institutional investors and hedge funds own 74.03% of the company’s stock.

Analysts Set New Price Targets

CNQ has been the subject of a number of research reports. StockNews.com downgraded shares of Canadian Natural Resources from a “buy” rating to a “hold” rating in a research note on Friday, August 23rd. Desjardins raised shares of Canadian Natural Resources from a “hold” rating to a “moderate buy” rating in a report on Tuesday, October 8th. Finally, Wolfe Research started coverage on Canadian Natural Resources in a report on Thursday, July 18th. They set a “peer perform” rating on the stock. Five equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $49.50.

Canadian Natural Resources Price Performance

CNQ opened at $35.70 on Friday. The stock has a market cap of $75.97 billion, a P/E ratio of 14.22 and a beta of 1.50. The company has a quick ratio of 0.59, a current ratio of 0.88 and a debt-to-equity ratio of 0.24. Canadian Natural Resources Limited has a 52-week low of $29.45 and a 52-week high of $41.29. The business has a fifty day moving average of $34.99 and a 200 day moving average of $36.20.

Canadian Natural Resources (NYSE:CNQ) (TSE:CNQ) last released its quarterly earnings results on Thursday, August 1st. The oil and gas producer reported $0.88 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.62 by $0.26. Canadian Natural Resources had a net margin of 18.05% and a return on equity of 22.09%. The business had revenue of $7.76 billion for the quarter, compared to analyst estimates of $6.19 billion. During the same period in the previous year, the company earned $0.43 earnings per share. As a group, sell-side analysts anticipate that Canadian Natural Resources Limited will post 2.5 EPS for the current year.

Canadian Natural Resources Increases Dividend

The business also recently disclosed 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 annualized dividend and a yield of 4.35%. This is an increase from Canadian Natural Resources’s previous quarterly dividend of $0.38. The ex-dividend date of this dividend is Friday, December 13th. Canadian Natural Resources’s dividend payout ratio (DPR) is presently 66.14%.

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).