Cerity Partners LLC Has $15.06 Million Stake in Canadian Natural Resources Limited (NYSE:CNQ)

Cerity Partners LLC increased its stake in shares of Canadian Natural Resources Limited (NYSE:CNQ) (TSE:CNQ) by 112.8% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 453,393 shares of the oil and gas producer’s stock after purchasing an additional 240,354 shares during the quarter. Cerity Partners LLC’s holdings in Canadian Natural Resources were worth $15,057,000 as of its most recent filing with the SEC.

Other institutional investors have also made changes to their positions in the company. TD Asset Management Inc lifted its position in Canadian Natural Resources by 96.2% in the 2nd quarter. TD Asset Management Inc now owns 42,518,833 shares of the oil and gas producer’s stock worth $1,514,190,000 after buying an additional 20,843,193 shares in the last quarter. Canada Pension Plan Investment Board raised its holdings in shares of Canadian Natural Resources by 93.0% during the second quarter. Canada Pension Plan Investment Board now owns 41,464,502 shares of the oil and gas producer’s stock worth $1,476,644,000 after acquiring an additional 19,980,902 shares in the last quarter. 1832 Asset Management L.P. boosted its position in Canadian Natural Resources by 105.3% during the second quarter. 1832 Asset Management L.P. now owns 31,668,045 shares of the oil and gas producer’s stock valued at $1,127,382,000 after purchasing an additional 16,245,046 shares during the last quarter. Mackenzie Financial Corp grew its stake in Canadian Natural Resources by 90.3% in the second quarter. Mackenzie Financial Corp now owns 30,017,414 shares of the oil and gas producer’s stock valued at $1,069,338,000 after purchasing an additional 14,246,978 shares in the last quarter. Finally, Yacktman Asset Management LP increased its position in Canadian Natural Resources by 95.9% in the 2nd quarter. Yacktman Asset Management LP now owns 29,456,746 shares of the oil and gas producer’s stock worth $1,048,660,000 after purchasing an additional 14,418,835 shares during the last quarter. 74.03% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

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

Canadian Natural Resources Price Performance

Canadian Natural Resources stock opened at $34.05 on Tuesday. The business has a 50 day simple moving average of $34.62 and a 200 day simple moving average of $35.30. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.84 and a quick ratio of 0.53. The company has a market capitalization of $71.85 billion, a PE ratio of 13.22 and a beta of 1.50. Canadian Natural Resources Limited has a one year low of $29.45 and a one year high of $41.29.

Canadian Natural Resources (NYSE:CNQ) (TSE:CNQ) last issued its quarterly earnings data on Thursday, October 31st. The oil and gas producer reported $0.97 earnings per share (EPS) for the quarter, beating 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 company had revenue of $7.62 billion during the quarter, compared to analysts’ expectations of $6.40 billion. During the same period last year, the business earned $0.96 earnings per share. On average, sell-side analysts forecast that Canadian Natural Resources Limited will post 2.47 EPS for the current fiscal year.

Canadian Natural Resources Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, January 3rd. Stockholders of record on Friday, December 13th will be paid a $0.388 dividend. The ex-dividend date of this dividend is Friday, December 13th. This represents a $1.55 dividend on an annualized basis and a dividend yield of 4.56%. This is a boost from Canadian Natural Resources’s previous quarterly dividend of $0.38. Canadian Natural Resources’s payout ratio is 60.58%.

About Canadian Natural Resources

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).