Investment Management Corp of Ontario Sells 8,700 Shares of Canadian Natural Resources Limited (NYSE:CNQ)

Investment Management Corp of Ontario cut its holdings in Canadian Natural Resources Limited (NYSE:CNQ) (TSE:CNQ) by 5.7% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 144,918 shares of the oil and gas producer’s stock after selling 8,700 shares during the quarter. Investment Management Corp of Ontario’s holdings in Canadian Natural Resources were worth $4,813,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of CNQ. RFP Financial Group LLC boosted its stake 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 worth $25,000 after acquiring an additional 352 shares in the last quarter. Bruce G. Allen Investments LLC raised its holdings in shares of Canadian Natural Resources by 91.6% during 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 during the period. GAMMA Investing LLC boosted its position in shares of Canadian Natural Resources by 104.7% during the 2nd 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 in the last quarter. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in shares of Canadian Natural Resources in the 2nd quarter valued at about $32,000. Finally, First Horizon Advisors Inc. increased its position in Canadian Natural Resources by 71.2% in the 2nd quarter. First Horizon Advisors Inc. now owns 904 shares of the oil and gas producer’s stock valued at $32,000 after buying an additional 376 shares in the last quarter. 74.03% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

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

Canadian Natural Resources Stock Performance

Shares of CNQ opened at $34.22 on Wednesday. The firm has a market capitalization of $72.21 billion, a P/E ratio of 13.29 and a beta of 1.47. Canadian Natural Resources Limited has a 52 week low of $29.45 and a 52 week high of $41.29. The stock has a 50 day moving average price of $34.63 and a two-hundred day moving average price of $35.11. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.53 and a current ratio of 0.84.

Canadian Natural Resources (NYSE:CNQ) (TSE:CNQ) last announced its quarterly earnings results on Thursday, October 31st. The oil and gas producer reported $0.97 earnings per share (EPS) for the quarter, topping the consensus estimate 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 business had revenue of $7.62 billion during the quarter, compared to the consensus estimate of $6.40 billion. During the same quarter in the prior year, the company posted $0.96 earnings per share. Equities analysts forecast that Canadian Natural Resources Limited will post 2.47 earnings per share for the current fiscal year.

Canadian Natural Resources Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 3rd. Shareholders of record on Friday, December 13th will be given a $0.388 dividend. This represents a $1.55 dividend on an annualized basis and a yield of 4.54%. This is an increase 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 presently 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).