QV Investors Inc. Trims Stock Holdings in Canadian Natural Resources Limited (NYSE:CNQ)

QV Investors Inc. lowered its holdings in shares of Canadian Natural Resources Limited (NYSE:CNQ) (TSE:CNQ) by 0.3% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 634,916 shares of the oil and gas producer’s stock after selling 1,822 shares during the quarter. Canadian Natural Resources accounts for 1.9% of QV Investors Inc.’s portfolio, making the stock its 19th biggest holding. QV Investors Inc.’s holdings in Canadian Natural Resources were worth $21,107,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of CNQ. TD Asset Management Inc increased its stake in Canadian Natural Resources by 96.2% in 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 buying an additional 20,843,193 shares during the period. Canada Pension Plan Investment Board increased its position in shares of Canadian Natural Resources by 93.0% during the second quarter. Canada Pension Plan Investment Board now owns 41,464,502 shares of the oil and gas producer’s stock worth $1,476,644,000 after acquiring an additional 19,980,902 shares during the period. 1832 Asset Management L.P. increased its position in shares of Canadian Natural Resources by 105.3% during the second quarter. 1832 Asset Management L.P. now owns 31,668,045 shares of the oil and gas producer’s stock worth $1,127,382,000 after acquiring an additional 16,245,046 shares during the period. Yacktman Asset Management LP raised its stake in shares of Canadian Natural Resources by 95.9% during the second 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 acquiring an additional 14,418,835 shares in the last quarter. Finally, Mackenzie Financial Corp boosted its holdings in shares of Canadian Natural Resources by 90.3% in the second 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 purchasing an additional 14,246,978 shares during the period. Institutional investors own 74.03% of the company’s stock.

Canadian Natural Resources Stock Down 4.5 %

Shares of NYSE CNQ opened at $35.35 on Wednesday. Canadian Natural Resources Limited has a 12-month low of $29.45 and a 12-month high of $41.29. The stock’s fifty day simple moving average is $34.93 and its two-hundred day simple moving average is $36.21. The stock has a market capitalization of $75.22 billion, a PE ratio of 14.08 and a beta of 1.50. The company has a current ratio of 0.88, a quick ratio of 0.59 and a debt-to-equity ratio of 0.24.

Canadian Natural Resources (NYSE:CNQ) (TSE:CNQ) last announced its earnings results on Thursday, August 1st. The oil and gas producer reported $0.88 EPS for the quarter, topping analysts’ consensus estimates of $0.62 by $0.26. Canadian Natural Resources had a net margin of 18.05% and a return on equity of 22.09%. The business had revenue of $7.76 billion during the quarter, compared to the consensus estimate of $6.19 billion. During the same period in the previous year, the company posted $0.43 earnings per share. As a group, analysts expect that Canadian Natural Resources Limited will post 2.5 EPS for the current fiscal year.

Canadian Natural Resources Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 3rd. Stockholders of record on Friday, December 13th will be given a dividend of $0.388 per share. The ex-dividend date is Friday, December 13th. This is an increase from Canadian Natural Resources’s previous quarterly dividend of $0.38. This represents a $1.55 dividend on an annualized basis and a dividend yield of 4.39%. Canadian Natural Resources’s dividend payout ratio is presently 66.14%.

Wall Street Analyst Weigh In

CNQ has been the topic of several research reports. Wolfe Research began coverage on Canadian Natural Resources in a report on Thursday, July 18th. They set a “peer perform” rating on the stock. StockNews.com lowered Canadian Natural Resources from a “buy” rating to a “hold” rating in a research note on Friday, August 23rd. Finally, Desjardins raised shares of Canadian Natural Resources from a “hold” rating to a “moderate buy” rating in a research note on Tuesday, October 8th. Five equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $49.50.

Canadian Natural Resources 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).