Greenleaf Trust Acquires New Position in Canadian Natural Resources Limited (NYSE:CNQ)

Greenleaf Trust acquired a new stake in shares of Canadian Natural Resources Limited (NYSE:CNQ) (TSE:CNQ) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 6,226 shares of the oil and gas producer’s stock, valued at approximately $207,000.

A number of other large investors also recently bought and sold shares of the company. TD Asset Management Inc boosted its holdings in Canadian Natural Resources by 96.2% in 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 purchasing an additional 20,843,193 shares during the period. Canada Pension Plan Investment Board grew its stake in shares of Canadian Natural Resources by 93.0% in 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 purchasing an additional 19,980,902 shares in the last quarter. 1832 Asset Management L.P. increased its stake in Canadian Natural Resources by 105.3% during the 2nd quarter. 1832 Asset Management L.P. now owns 31,668,045 shares of the oil and gas producer’s stock valued at $1,127,382,000 after buying an additional 16,245,046 shares during the period. Yacktman Asset Management LP boosted its stake in Canadian Natural Resources by 95.9% during the 2nd 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 purchasing an additional 14,418,835 shares in the last quarter. Finally, Mackenzie Financial Corp grew its holdings 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 worth $1,069,338,000 after acquiring an additional 14,246,978 shares during the period. Institutional investors own 74.03% of the company’s stock.

Analyst Upgrades and Downgrades

CNQ has been the subject of several analyst reports. StockNews.com downgraded Canadian Natural Resources from a “buy” rating to a “hold” rating in a report on Friday, August 23rd. Desjardins raised Canadian Natural Resources from a “hold” rating to a “moderate buy” rating in a research report on Tuesday, October 8th. Finally, Wolfe Research assumed coverage on Canadian Natural Resources in a report on Thursday, July 18th. They set a “peer perform” rating on the stock. Five equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to data from MarketBeat.com, Canadian Natural Resources currently has a consensus rating of “Hold” and a consensus price target of $49.50.

Canadian Natural Resources Stock Performance

CNQ stock opened at $35.55 on Friday. The stock has a market capitalization of $75.65 billion, a PE ratio of 14.16 and a beta of 1.50. Canadian Natural Resources Limited has a fifty-two week low of $29.45 and a fifty-two week high of $41.29. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.88 and a quick ratio of 0.59. The company has a 50 day moving average price of $34.92 and a 200 day moving average price of $36.02.

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

Canadian Natural Resources Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 3rd. Investors of record on Friday, December 13th will be issued a dividend of $0.388 per share. The ex-dividend date is Friday, December 13th. This represents a $1.55 dividend on an annualized basis and a yield of 4.37%. This is a boost from Canadian Natural Resources’s previous quarterly dividend of $0.38. Canadian Natural Resources’s dividend payout ratio (DPR) is presently 66.14%.

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).