Canadian Natural Resources Limited (NYSE:CNQ) Shares Sold by Conning Inc.

Conning Inc. decreased its stake in shares of Canadian Natural Resources Limited (NYSE:CNQ) (TSE:CNQ) by 21.7% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 14,587 shares of the oil and gas producer’s stock after selling 4,034 shares during the quarter. Conning Inc.’s holdings in Canadian Natural Resources were worth $484,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Lighthouse Investment Partners LLC acquired a new position in shares of Canadian Natural Resources during the 2nd quarter valued at about $890,000. Canoe Financial LP raised its stake in Canadian Natural Resources by 226.0% during the third quarter. Canoe Financial LP now owns 1,549,610 shares of the oil and gas producer’s stock worth $51,469,000 after purchasing an additional 1,074,199 shares during the period. Capital Wealth Planning LLC boosted its holdings in Canadian Natural Resources by 228.5% in the 2nd quarter. Capital Wealth Planning LLC now owns 91,652 shares of the oil and gas producer’s stock valued at $3,263,000 after purchasing an additional 63,756 shares during the last quarter. Souders Financial Advisors grew its stake in shares of Canadian Natural Resources by 103.0% in the 2nd quarter. Souders Financial Advisors now owns 99,999 shares of the oil and gas producer’s stock valued at $3,560,000 after buying an additional 50,744 shares during the period. Finally, Baskin Financial Services Inc. increased its holdings in shares of Canadian Natural Resources by 1.5% during the 3rd quarter. Baskin Financial Services Inc. now owns 985,280 shares of the oil and gas producer’s stock worth $32,696,000 after buying an additional 14,812 shares during the last quarter. Institutional investors and hedge funds own 74.03% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the company. Wolfe Research assumed coverage on Canadian Natural Resources in a research note on Thursday, July 18th. They set a “peer perform” rating for the company. StockNews.com lowered shares of Canadian Natural Resources from a “buy” rating to a “hold” rating in a report on Friday, August 23rd. Finally, Desjardins raised shares of Canadian Natural Resources from a “hold” rating to a “moderate buy” rating in a research report on Tuesday, October 8th. Five investment analysts have rated the stock with a hold rating, According to data from MarketBeat.com, Canadian Natural Resources has a consensus rating of “Hold” and a consensus price target of $51.00.

Canadian Natural Resources Stock Down 0.4 %

Shares of NYSE CNQ opened at $33.88 on Monday. The company has a quick ratio of 0.59, a current ratio of 0.88 and a debt-to-equity ratio of 0.24. The business’s 50 day moving average is $34.74 and its two-hundred day moving average is $35.77. Canadian Natural Resources Limited has a 52-week low of $29.45 and a 52-week high of $41.29. The firm has a market cap of $71.61 billion, a price-to-earnings ratio of 13.18 and a beta of 1.50.

Canadian Natural Resources Increases Dividend

The company also recently announced 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. The ex-dividend date of this dividend is Friday, December 13th. This represents a $1.55 annualized dividend and a yield of 4.58%. Canadian Natural Resources’s dividend payout ratio is presently 64.59%.

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).