Voya Investment Management LLC Decreases Holdings in Canadian Natural Resources Limited $CNQ

Voya Investment Management LLC cut its stake in Canadian Natural Resources Limited (NYSE:CNQ) (TSE:CNQ) by 23.1% during the 3rd quarter, HoldingsChannel reports. The firm owned 60,270 shares of the oil and gas producer’s stock after selling 18,084 shares during the quarter. Voya Investment Management LLC’s holdings in Canadian Natural Resources were worth $1,928,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Vanguard Group Inc. grew its stake in shares of Canadian Natural Resources by 3.4% in the second quarter. Vanguard Group Inc. now owns 90,742,099 shares of the oil and gas producer’s stock valued at $2,852,024,000 after buying an additional 3,003,542 shares in the last quarter. Fisher Asset Management LLC lifted its position in Canadian Natural Resources by 4.5% during the 2nd quarter. Fisher Asset Management LLC now owns 47,939,585 shares of the oil and gas producer’s stock worth $1,505,303,000 after acquiring an additional 2,051,714 shares in the last quarter. TD Asset Management Inc lifted its position in Canadian Natural Resources by 0.8% during the 2nd quarter. TD Asset Management Inc now owns 41,581,125 shares of the oil and gas producer’s stock worth $1,304,267,000 after acquiring an additional 316,933 shares in the last quarter. The Manufacturers Life Insurance Company boosted its holdings in Canadian Natural Resources by 10.3% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 27,359,777 shares of the oil and gas producer’s stock worth $855,414,000 after acquiring an additional 2,546,233 shares during the period. Finally, Geode Capital Management LLC grew its position in Canadian Natural Resources by 19.8% in the second quarter. Geode Capital Management LLC now owns 17,146,792 shares of the oil and gas producer’s stock valued at $548,214,000 after acquiring an additional 2,832,155 shares in the last quarter. Institutional investors and hedge funds own 74.03% of the company’s stock.

Canadian Natural Resources Price Performance

CNQ opened at $32.80 on Monday. The company has a market capitalization of $68.31 billion, a P/E ratio of 14.51 and a beta of 0.70. The company has a 50-day moving average of $32.59 and a 200-day moving average of $31.93. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.53 and a current ratio of 0.86. Canadian Natural Resources Limited has a 1-year low of $24.65 and a 1-year high of $35.12.

Canadian Natural Resources (NYSE:CNQ) (TSE:CNQ) last posted its quarterly earnings results on Thursday, November 6th. The oil and gas producer reported $0.62 EPS for the quarter, topping analysts’ consensus estimates of $0.54 by $0.08. Canadian Natural Resources had a return on equity of 18.93% and a net margin of 14.90%.The business had revenue of $6.79 billion during the quarter, compared to the consensus estimate of $6.81 billion. During the same period last year, the firm earned $0.97 earnings per share. Equities analysts expect that Canadian Natural Resources Limited will post 2.45 EPS for the current fiscal year.

Canadian Natural Resources Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 6th. Shareholders of record on Friday, December 12th will be issued a $0.5875 dividend. This is a boost from Canadian Natural Resources’s previous quarterly dividend of $0.43. This represents a $2.35 dividend on an annualized basis and a yield of 7.2%. The ex-dividend date of this dividend is Friday, December 12th. Canadian Natural Resources’s dividend payout ratio is presently 74.34%.

Analyst Ratings Changes

A number of research firms have recently commented on CNQ. TD Securities reissued a “buy” rating on shares of Canadian Natural Resources in a research report on Tuesday, September 30th. Weiss Ratings reiterated a “hold (c)” rating on shares of Canadian Natural Resources in a report on Wednesday, October 8th. Scotiabank restated an “outperform” rating on shares of Canadian Natural Resources in a research note on Thursday, October 9th. Royal Bank Of Canada reiterated an “outperform” rating and issued a $62.00 price target on shares of Canadian Natural Resources in a research note on Wednesday, September 24th. Finally, Wells Fargo & Company upgraded Canadian Natural Resources to a “hold” rating in a research note on Thursday, October 16th. Five analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $62.00.

About Canadian Natural Resources

Canadian Natural Resources Limited (NYSE: CNQ) is a Calgary-based independent oil and natural gas exploration and production company. Established in the early 1970s and publicly listed in Canada and the United States, the company is principally engaged in the exploration, development, production, and marketing of crude oil, natural gas and natural gas liquids. Its asset base spans conventional and unconventional reservoirs and includes oil sands mining and in-situ thermal projects, midstream processing and upgrading capacity, and related field operations.

The company’s operations are concentrated in Western Canada, where it develops heavy crude, bitumen from oil sands and conventional light crude and natural gas resources.