Canadian Natural Resources Limited (NYSE:CNQ) Shares Sold by Montrusco Bolton Investments Inc.

Montrusco Bolton Investments Inc. reduced its stake in shares of Canadian Natural Resources Limited (NYSE:CNQ) (TSE:CNQ) by 57.7% during the 3rd quarter, Holdings Channel.com reports. The firm owned 1,011,542 shares of the oil and gas producer’s stock after selling 1,379,588 shares during the quarter. Montrusco Bolton Investments Inc.’s holdings in Canadian Natural Resources were worth $33,627,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in CNQ. TD Asset Management Inc boosted its stake in shares of Canadian Natural Resources by 96.2% during 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 acquiring an additional 20,843,193 shares in the last quarter. Canada Pension Plan Investment Board lifted its stake in Canadian Natural Resources by 93.0% in the 2nd quarter. Canada Pension Plan Investment Board now owns 41,464,502 shares of the oil and gas producer’s stock valued at $1,476,644,000 after buying an additional 19,980,902 shares in the last quarter. 1832 Asset Management L.P. lifted its stake in Canadian Natural Resources by 105.3% in the 2nd 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 buying an additional 16,245,046 shares in the last quarter. Mackenzie Financial Corp lifted its stake in Canadian Natural Resources by 90.3% in the 2nd 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 buying an additional 14,246,978 shares in the last quarter. Finally, Yacktman Asset Management LP lifted its stake 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 valued at $1,048,660,000 after buying an additional 14,418,835 shares in the last quarter. 74.03% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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

Canadian Natural Resources Stock Up 0.8 %

CNQ stock opened at $34.84 on Friday. The company has a market cap of $73.52 billion, a price-to-earnings ratio of 13.53 and a beta of 1.50. The company has a current ratio of 0.84, a quick ratio of 0.53 and a debt-to-equity ratio of 0.21. Canadian Natural Resources Limited has a 12 month low of $29.45 and a 12 month high of $41.29. The firm has a 50-day moving average of $34.59 and a two-hundred day moving average of $35.37.

Canadian Natural Resources (NYSE:CNQ) (TSE:CNQ) last released its quarterly earnings data on Thursday, October 31st. The oil and gas producer reported $0.97 EPS for the quarter, beating analysts’ consensus estimates of $0.67 by $0.30. The company had revenue of $7.62 billion during the quarter, compared to the consensus estimate of $6.40 billion. Canadian Natural Resources had a net margin of 18.45% and a return on equity of 20.07%. During the same quarter in the prior year, the firm earned $0.96 EPS. As a group, analysts forecast that Canadian Natural Resources Limited will post 2.44 earnings per share for the current fiscal year.

Canadian Natural Resources Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, January 3rd. Stockholders of record on Friday, December 13th will be issued a dividend of $0.388 per share. The ex-dividend date is Friday, December 13th. This represents a $1.55 dividend on an annualized basis and a dividend yield of 4.46%. This is an increase from Canadian Natural Resources’s previous quarterly dividend of $0.38. Canadian Natural Resources’s dividend payout ratio (DPR) is currently 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).