MORGUARD LINCLUDEN GLOBAL INVESTMENTS Ltd Sells 13,125 Shares of Canadian Natural Resources Limited $CNQ

MORGUARD LINCLUDEN GLOBAL INVESTMENTS Ltd decreased its position in shares of Canadian Natural Resources Limited (NYSE:CNQ) (TSE:CNQ) by 2.4% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 544,770 shares of the oil and gas producer’s stock after selling 13,125 shares during the quarter. Canadian Natural Resources makes up about 3.3% of MORGUARD LINCLUDEN GLOBAL INVESTMENTS Ltd’s portfolio, making the stock its 10th biggest holding. MORGUARD LINCLUDEN GLOBAL INVESTMENTS Ltd’s holdings in Canadian Natural Resources were worth $25,642,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of CNQ. Arrowstreet Capital Limited Partnership acquired a new stake in Canadian Natural Resources during the first quarter worth about $1,411,619,000. Healthcare of Ontario Pension Plan Trust Fund raised its stake in Canadian Natural Resources by 10.0% during the first quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 37,457,500 shares of the oil and gas producer’s stock worth $1,826,578,000 after purchasing an additional 3,397,500 shares during the period. Mufg Securities Canada LTD. boosted its holdings in Canadian Natural Resources by 105.7% in the 2nd quarter. Mufg Securities Canada LTD. now owns 6,350,644 shares of the oil and gas producer’s stock valued at $250,892,000 after purchasing an additional 3,262,880 shares during the last quarter. Bank of New York Mellon Corp acquired a new position in Canadian Natural Resources in the 2nd quarter valued at about $117,215,000. Finally, Bank of Nova Scotia boosted its holdings in Canadian Natural Resources by 49.9% in the 1st quarter. Bank of Nova Scotia now owns 6,565,392 shares of the oil and gas producer’s stock valued at $320,189,000 after purchasing an additional 2,184,892 shares during the last quarter. Hedge funds and other institutional investors own 74.03% of the company’s stock.

Canadian Natural Resources Stock Up 1.4%

Shares of NYSE:CNQ opened at $54.80 on Thursday. The company has a market capitalization of $112.62 billion, a price-to-earnings ratio of 13.53 and a beta of 0.53. Canadian Natural Resources Limited has a 12-month low of $30.13 and a 12-month high of $55.49. The business has a 50-day moving average price of $50.55 and a 200 day moving average price of $45.62. The company has a current ratio of 1.00, a quick ratio of 0.75 and a debt-to-equity ratio of 0.32.

Canadian Natural Resources (NYSE:CNQ) (TSE:CNQ) last posted its earnings results on Thursday, August 6th. The oil and gas producer reported $1.58 EPS for the quarter, beating analysts’ consensus estimates of $1.43 by $0.15. The company had revenue of $14.74 billion for the quarter, compared to analysts’ expectations of $9.40 billion. Canadian Natural Resources had a net margin of 22.78% and a return on equity of 23.91%. Sell-side analysts expect that Canadian Natural Resources Limited will post 4.10 EPS for the current year.

Canadian Natural Resources Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, October 2nd. Stockholders of record on Friday, September 11th were paid a C$0.62 dividend. This represents a $2.50 dividend on an annualized basis and a dividend yield of 4.6%. The ex-dividend date of this dividend was Friday, September 11th. Canadian Natural Resources’s payout ratio is 44.44%.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on CNQ. Desjardins upgraded shares of Canadian Natural Resources to a “hold” rating in a report on Thursday, July 16th. Wall Street Zen raised shares of Canadian Natural Resources from a “hold” rating to a “buy” rating in a research report on Saturday, August 15th. Weiss Ratings upgraded Canadian Natural Resources from a “buy (b)” rating to a “buy (b+)” rating in a report on Thursday, October 8th. Scotiabank reiterated a “sector perform” rating on shares of Canadian Natural Resources in a research report on Monday, October 19th. Finally, TD Securities reiterated a “buy” rating on shares of Canadian Natural Resources in a research report on Friday, August 7th. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $57.00.

About Canadian Natural Resources

Canadian Natural Resources Limited is an independent energy company engaged in the exploration, development, production, marketing and sale of crude oil, natural gas and natural gas liquids. Its portfolio includes conventional and unconventional petroleum assets, heavy crude oil operations, and oil sands projects that produce bitumen and synthetic crude oil.

The company’s principal operations are located in Western Canada, including oil sands and conventional assets in Alberta and natural gas properties in Alberta and British Columbia.