Canadian Natural Resources Limited (NYSE:CNQ) Shares Sold by Canoe Financial LP

Canoe Financial LP lessened its position in Canadian Natural Resources Limited (NYSE:CNQ) (TSE:CNQ) by 39.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 940,731 shares of the oil and gas producer’s stock after selling 608,879 shares during the period. Canoe Financial LP’s holdings in Canadian Natural Resources were worth $29,024,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of the company. Canada Pension Plan Investment Board grew 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 worth $1,476,644,000 after acquiring an additional 19,980,902 shares during the period. 1832 Asset Management L.P. boosted its holdings 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 purchasing an additional 16,245,046 shares during the last quarter. Mackenzie Financial Corp grew its position 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. The Manufacturers Life Insurance Company increased its stake in Canadian Natural Resources by 102.3% in the second quarter. The Manufacturers Life Insurance Company now owns 27,084,649 shares of the oil and gas producer’s stock valued at $963,348,000 after purchasing an additional 13,694,741 shares during the last quarter. Finally, Toronto Dominion Bank lifted its position in Canadian Natural Resources by 254.7% during the second quarter. Toronto Dominion Bank now owns 18,501,417 shares of the oil and gas producer’s stock worth $658,650,000 after buying an additional 13,284,985 shares during the period. Institutional investors and hedge funds own 74.03% of the company’s stock.

Canadian Natural Resources Stock Performance

NYSE:CNQ opened at $31.11 on Friday. The company has a market cap of $65.44 billion, a P/E ratio of 12.08 and a beta of 1.46. The firm’s 50 day moving average is $32.24 and its two-hundred day moving average is $34.05. Canadian Natural Resources Limited has a fifty-two week low of $29.23 and a fifty-two week high of $41.29. The company has a quick ratio of 0.53, a current ratio of 0.84 and a debt-to-equity ratio of 0.21.

Canadian Natural Resources (NYSE:CNQ) (TSE:CNQ) last issued its earnings results on Thursday, October 31st. The oil and gas producer reported $0.97 earnings per share for the quarter, beating analysts’ consensus estimates of $0.67 by $0.30. Canadian Natural Resources had a return on equity of 20.07% and a net margin of 18.45%. The firm had revenue of $7.62 billion for the quarter, compared to analysts’ expectations of $6.40 billion. During the same quarter last year, the firm earned $0.96 earnings per share. Analysts expect that Canadian Natural Resources Limited will post 2.42 EPS for the current year.

Wall Street Analysts Forecast Growth

Separately, Desjardins upgraded Canadian Natural Resources from a “hold” rating to a “moderate buy” rating in a report on Tuesday, October 8th. Four equities research analysts have rated the stock with a hold rating, According to data from MarketBeat.com, the company currently has a consensus rating of “Hold”.

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).