Bowen Hanes & Co. Inc. Has $3.64 Million Position in Canadian Natural Resources Limited $CNQ

Bowen Hanes & Co. Inc. lowered its holdings in Canadian Natural Resources Limited (NYSE:CNQ) (TSE:CNQ) by 17.6% in the second quarter, Holdings Channel.com reports. The firm owned 116,050 shares of the oil and gas producer’s stock after selling 24,750 shares during the period. Bowen Hanes & Co. Inc.’s holdings in Canadian Natural Resources were worth $3,644,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Goldman Sachs Group Inc. lifted its stake in Canadian Natural Resources by 240.8% in the 1st quarter. Goldman Sachs Group Inc. now owns 22,776,594 shares of the oil and gas producer’s stock worth $701,519,000 after acquiring an additional 16,094,168 shares in the last quarter. Bank of Nova Scotia increased its holdings in shares of Canadian Natural Resources by 86.6% in the 1st quarter. Bank of Nova Scotia now owns 24,262,707 shares of the oil and gas producer’s stock valued at $746,675,000 after purchasing an additional 11,259,267 shares during the period. T. Rowe Price Investment Management Inc. lifted its position in shares of Canadian Natural Resources by 29.1% in the first quarter. T. Rowe Price Investment Management Inc. now owns 43,968,120 shares of the oil and gas producer’s stock worth $1,354,219,000 after purchasing an additional 9,915,345 shares in the last quarter. Canada Pension Plan Investment Board boosted its holdings in shares of Canadian Natural Resources by 13.0% during the first quarter. Canada Pension Plan Investment Board now owns 41,769,153 shares of the oil and gas producer’s stock worth $1,285,464,000 after purchasing an additional 4,805,451 shares during the period. Finally, Vanguard Group Inc. boosted its holdings in shares of Canadian Natural Resources by 3.4% during the second quarter. Vanguard Group Inc. now owns 90,742,099 shares of the oil and gas producer’s stock worth $2,852,024,000 after purchasing an additional 3,003,542 shares during the period. Hedge funds and other institutional investors own 74.03% of the company’s stock.

Analyst Ratings Changes

Several research firms have weighed in on CNQ. TD Securities reiterated a “buy” rating on shares of Canadian Natural Resources in a research note on Tuesday, September 30th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Canadian Natural Resources in a research note on Wednesday, October 8th. Raymond James Financial reiterated an “outperform” rating on shares of Canadian Natural Resources in a report on Friday, August 8th. Royal Bank Of Canada restated an “outperform” rating and issued a $62.00 target price on shares of Canadian Natural Resources in a research note on Wednesday, September 24th. Finally, Scotiabank reaffirmed an “outperform” rating on shares of Canadian Natural Resources in a research note on Thursday, October 9th. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $62.00.

Canadian Natural Resources Stock Down 1.6%

CNQ stock opened at $33.44 on Friday. The firm has a market cap of $69.66 billion, a PE ratio of 11.86 and a beta of 0.96. Canadian Natural Resources Limited has a 1 year low of $24.65 and a 1 year high of $34.97. The company has a fifty day simple moving average of $32.02 and a 200 day simple moving average of $31.53. The company has a current ratio of 0.85, a quick ratio of 0.54 and a debt-to-equity ratio of 0.38.

Canadian Natural Resources (NYSE:CNQ) (TSE:CNQ) last posted its earnings results on Thursday, November 6th. The oil and gas producer reported $0.62 EPS for the quarter, topping the consensus estimate of $0.54 by $0.08. Canadian Natural Resources had a net margin of 19.00% and a return on equity of 19.67%. The firm had revenue of $6.79 billion for the quarter, compared to the consensus estimate of $6.81 billion. During the same period in the prior year, the business posted $0.97 earnings per share. Sell-side analysts anticipate that Canadian Natural Resources Limited will post 2.45 EPS for the current fiscal year.

Canadian Natural Resources Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, January 6th. Investors of record on Friday, December 12th will be issued a $0.5875 dividend. This is an increase from Canadian Natural Resources’s previous quarterly dividend of $0.43. The ex-dividend date is Friday, December 12th. This represents a $2.35 annualized dividend and a yield of 7.0%. Canadian Natural Resources’s dividend payout ratio is presently 73.89%.

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).