Mackenzie Financial Corp Has $991.63 Million Holdings in Canadian Natural Resources Limited $CNQ

Mackenzie Financial Corp lowered its stake in Canadian Natural Resources Limited (NYSE:CNQ) (TSE:CNQ) by 2.5% in the third quarter, Holdings Channel.com reports. The institutional investor owned 31,019,189 shares of the oil and gas producer’s stock after selling 783,523 shares during the quarter. Canadian Natural Resources makes up approximately 1.2% of Mackenzie Financial Corp’s portfolio, making the stock its 16th largest holding. Mackenzie Financial Corp’s holdings in Canadian Natural Resources were worth $991,633,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. lifted its position in Canadian Natural Resources by 3.4% during the 2nd quarter. Vanguard Group Inc. now owns 90,742,099 shares of the oil and gas producer’s stock worth $2,852,024,000 after acquiring an additional 3,003,542 shares during the last quarter. Envestnet Asset Management Inc. boosted its holdings in Canadian Natural Resources by 2.8% during the third quarter. Envestnet Asset Management Inc. now owns 1,616,219 shares of the oil and gas producer’s stock valued at $51,654,000 after acquiring an additional 43,356 shares during the period. Principal Financial Group Inc. grew its position in shares of Canadian Natural Resources by 2.0% in the third quarter. Principal Financial Group Inc. now owns 1,716,038 shares of the oil and gas producer’s stock valued at $54,883,000 after purchasing an additional 33,609 shares during the last quarter. PNC Financial Services Group Inc. grew its position in shares of Canadian Natural Resources by 9.9% in the second quarter. PNC Financial Services Group Inc. now owns 89,973 shares of the oil and gas producer’s stock valued at $2,825,000 after purchasing an additional 8,078 shares during the last quarter. Finally, Intact Investment Management Inc. increased its stake in shares of Canadian Natural Resources by 9.1% in the third quarter. Intact Investment Management Inc. now owns 1,718,220 shares of the oil and gas producer’s stock worth $54,946,000 after purchasing an additional 143,550 shares during the period. 74.03% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the company. Evercore cut Canadian Natural Resources from an “outperform” rating to an “in-line” rating in a research report on Tuesday, January 6th. ATB Cormark Capital Markets downgraded Canadian Natural Resources from a “strong-buy” rating to a “moderate buy” rating in a research report on Thursday, March 5th. Royal Bank Of Canada upped their price target on Canadian Natural Resources from $61.00 to $65.00 and gave the stock an “outperform” rating in a report on Friday, March 6th. Wall Street Zen raised Canadian Natural Resources from a “sell” rating to a “hold” rating in a research report on Saturday, January 31st. Finally, The Goldman Sachs Group set a $35.00 price objective on shares of Canadian Natural Resources and gave the stock a “buy” rating in a research note on Friday, January 2nd. Six investment analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, Canadian Natural Resources presently has a consensus rating of “Hold” and a consensus price target of $50.00.

Canadian Natural Resources Stock Down 1.1%

Shares of CNQ opened at $45.75 on Wednesday. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.53 and a current ratio of 0.95. The company has a 50-day simple moving average of $38.34 and a 200-day simple moving average of $34.37. Canadian Natural Resources Limited has a 52 week low of $24.65 and a 52 week high of $47.47. The firm has a market capitalization of $95.38 billion, a P/E ratio of 12.40 and a beta of 0.63.

Canadian Natural Resources (NYSE:CNQ) (TSE:CNQ) last released its earnings results on Thursday, March 5th. The oil and gas producer reported $0.59 earnings per share for the quarter, topping analysts’ consensus estimates of $0.53 by $0.06. Canadian Natural Resources had a return on equity of 17.84% and a net margin of 24.48%.The business had revenue of $6.89 billion for the quarter, compared to the consensus estimate of $6.64 billion. During the same period last year, the business earned $0.93 earnings per share. On average, equities research analysts expect that Canadian Natural Resources Limited will post 2.45 earnings per share for the current year.

Canadian Natural Resources Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 7th. Shareholders of record on Friday, March 20th will be given a $0.625 dividend. The ex-dividend date is Friday, March 20th. This represents a $2.50 dividend on an annualized basis and a dividend yield of 5.5%. This is an increase from Canadian Natural Resources’s previous quarterly dividend of $0.59. Canadian Natural Resources’s dividend payout ratio is 45.53%.

About Canadian Natural Resources

Canadian Natural Resources Limited (NYSE: CNQ) is a Calgary-based independent oil and natural gas exploration and production company. Established in the early 1970s and publicly listed in Canada and the United States, the company is principally engaged in the exploration, development, production, and marketing of crude oil, natural gas and natural gas liquids. Its asset base spans conventional and unconventional reservoirs and includes oil sands mining and in-situ thermal projects, midstream processing and upgrading capacity, and related field operations.

The company’s operations are concentrated in Western Canada, where it develops heavy crude, bitumen from oil sands and conventional light crude and natural gas resources.