Canadian Natural Resources Ltd (NYSE:CNQ) Position Reduced by JCIC Asset Management Inc.

JCIC Asset Management Inc. cut its position in shares of Canadian Natural Resources Ltd (NYSE:CNQ) (TSE:CNQ) by 3.1% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 207,969 shares of the oil and gas producer’s stock after selling 6,760 shares during the quarter. Canadian Natural Resources accounts for 2.4% of JCIC Asset Management Inc.’s portfolio, making the stock its 16th largest position. JCIC Asset Management Inc.’s holdings in Canadian Natural Resources were worth $5,537,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently bought and sold shares of CNQ. MUFG Securities EMEA plc purchased a new stake in Canadian Natural Resources during the second quarter valued at about $123,576,000. Caisse DE Depot ET Placement DU Quebec lifted its stake in Canadian Natural Resources by 23.8% during the first quarter. Caisse DE Depot ET Placement DU Quebec now owns 18,000,000 shares of the oil and gas producer’s stock valued at $494,345,000 after buying an additional 3,455,000 shares in the last quarter. Hexavest Inc. lifted its stake in Canadian Natural Resources by 774.9% during the second quarter. Hexavest Inc. now owns 2,225,857 shares of the oil and gas producer’s stock valued at $60,145,000 after buying an additional 1,971,455 shares in the last quarter. Alberta Investment Management Corp lifted its stake in Canadian Natural Resources by 61.9% during the second quarter. Alberta Investment Management Corp now owns 4,604,838 shares of the oil and gas producer’s stock valued at $162,597,000 after buying an additional 1,760,600 shares in the last quarter. Finally, National Pension Service purchased a new stake in Canadian Natural Resources during the second quarter valued at about $55,410,000. 65.10% of the stock is owned by institutional investors.

A number of analysts have recently issued reports on CNQ shares. National Bank Financial lowered shares of Canadian Natural Resources from an “outperform” rating to a “sector perform” rating in a research report on Wednesday, October 2nd. Wells Fargo & Co lowered shares of Canadian Natural Resources from a “market perform” rating to an “underperform” rating in a research report on Friday, September 6th. Credit Suisse Group set a $48.00 price target on shares of Canadian Natural Resources and gave the stock a “buy” rating in a research report on Tuesday, September 10th. Goldman Sachs Group set a $29.00 price target on shares of Canadian Natural Resources and gave the stock a “hold” rating in a research report on Friday, September 27th. Finally, Zacks Investment Research lowered shares of Canadian Natural Resources from a “buy” rating to a “hold” rating and set a $28.00 price target for the company. in a research report on Monday, July 22nd. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and fourteen have given a buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of $40.71.

NYSE:CNQ traded up $0.04 during mid-day trading on Monday, reaching $25.67. The stock had a trading volume of 187,846 shares, compared to its average volume of 2,691,769. The business’s 50 day moving average is $24.98 and its 200 day moving average is $26.70. Canadian Natural Resources Ltd has a fifty-two week low of $21.85 and a fifty-two week high of $32.81. The stock has a market cap of $30.05 billion, a P/E ratio of 11.97, a PEG ratio of 1.48 and a beta of 1.15. The company has a debt-to-equity ratio of 0.57, a current ratio of 0.59 and a quick ratio of 0.44.

Canadian Natural Resources (NYSE:CNQ) (TSE:CNQ) last released its quarterly earnings data on Thursday, August 1st. The oil and gas producer reported $0.87 EPS for the quarter, topping analysts’ consensus estimates of $0.62 by $0.25. Canadian Natural Resources had a return on equity of 8.62% and a net margin of 22.22%. The firm had revenue of $4.16 billion for the quarter, compared to the consensus estimate of $4.36 billion. During the same quarter in the prior year, the company posted $1.04 earnings per share. Equities analysts expect that Canadian Natural Resources Ltd will post 2.4 EPS for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 1st. Investors of record on Friday, September 13th were issued a $0.284 dividend. The ex-dividend date of this dividend was Thursday, September 12th. This represents a $1.14 dividend on an annualized basis and a yield of 4.43%. This is an increase from Canadian Natural Resources’s previous quarterly dividend of $0.28. Canadian Natural Resources’s dividend payout ratio is currently 52.56%.

Canadian Natural Resources Company Profile

Canadian Natural Resources Limited explores for, develops, produces, and markets crude oil, natural gas, and natural gas liquids (NGLs). The company offers synthetic crude oil (SCO), light and medium crude oil, bitumen (thermal oil), primary heavy crude oil, and Pelican Lake heavy crude oil. Its midstream assets include two crude oil pipeline systems; and a 50% working interest in an 84-megawatt cogeneration plant at Primrose.

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Institutional Ownership by Quarter for Canadian Natural Resources (NYSE:CNQ)

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