Atria Investments Inc Decreases Stock Holdings in Canadian Natural Resources Limited (NYSE:CNQ)

Atria Investments Inc cut its holdings in Canadian Natural Resources Limited (NYSE:CNQ) (TSE:CNQ) by 14.5% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 26,878 shares of the oil and gas producer’s stock after selling 4,554 shares during the period. Atria Investments Inc’s holdings in Canadian Natural Resources were worth $893,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in CNQ. TD Asset Management Inc increased its stake in Canadian Natural Resources by 96.2% during the second 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 acquiring an additional 20,843,193 shares during the last quarter. Canada Pension Plan Investment Board raised its holdings in Canadian Natural Resources by 93.0% during the 2nd quarter. Canada Pension Plan Investment Board now owns 41,464,502 shares of the oil and gas producer’s stock valued at $1,476,644,000 after buying an additional 19,980,902 shares during the period. 1832 Asset Management L.P. lifted its position in Canadian Natural Resources by 105.3% in 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 buying an additional 16,245,046 shares during the last quarter. Yacktman Asset Management LP boosted its stake in 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 worth $1,048,660,000 after buying an additional 14,418,835 shares during the period. Finally, Mackenzie Financial Corp increased its position in Canadian Natural Resources by 90.3% during 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 acquiring an additional 14,246,978 shares during the last quarter. 74.03% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

CNQ has been the subject of several analyst reports. Desjardins upgraded shares of Canadian Natural Resources from a “hold” rating to a “moderate buy” rating in a report on Tuesday, October 8th. StockNews.com downgraded shares of Canadian Natural Resources from a “buy” rating to a “hold” rating in a research note on Friday, August 23rd. Five analysts have rated the stock with a hold rating, Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $51.00.

Canadian Natural Resources Stock Performance

CNQ stock opened at $33.10 on Monday. Canadian Natural Resources Limited has a twelve month low of $29.45 and a twelve month high of $41.29. The firm has a market cap of $69.85 billion, a price-to-earnings ratio of 12.85 and a beta of 1.50. The business’s fifty day simple moving average is $34.43 and its two-hundred day simple moving average is $35.46. 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 posted its quarterly earnings results on Thursday, October 31st. The oil and gas producer reported $0.97 EPS for the quarter, topping the consensus estimate of $0.67 by $0.30. Canadian Natural Resources had a net margin of 18.45% and a return on equity of 20.07%. The company had revenue of $7.62 billion for the quarter, compared to the consensus estimate of $6.40 billion. During the same quarter last year, the firm posted $0.96 EPS. Analysts predict that Canadian Natural Resources Limited will post 2.44 earnings per share for the current year.

Canadian Natural Resources Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, January 3rd. Stockholders of record on Friday, December 13th will be paid a dividend of $0.388 per share. This represents a $1.55 annualized dividend and a dividend yield of 4.69%. The ex-dividend date of this dividend is Friday, December 13th. This is an increase from Canadian Natural Resources’s previous quarterly dividend of $0.38. Canadian Natural Resources’s payout ratio is currently 60.58%.

Canadian Natural Resources Company 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).