Canadian Natural Resources Limited $CNQ Stock Sold by Miller Howard Investments Inc. NY

Miller Howard Investments Inc. NY lessened its stake in shares of Canadian Natural Resources Limited (NYSE:CNQ) (TSE:CNQ) by 5.1% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,360,923 shares of the oil and gas producer’s stock after selling 72,879 shares during the quarter. Canadian Natural Resources accounts for about 1.7% of Miller Howard Investments Inc. NY’s investment portfolio, making the stock its 16th largest position. Miller Howard Investments Inc. NY owned 0.07% of Canadian Natural Resources worth $64,059,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also modified their holdings of CNQ. Barometer Capital Management Inc. bought a new stake in Canadian Natural Resources in the first quarter valued at $6,198,000. Bank of New York Mellon Corp acquired a new position in Canadian Natural Resources during the second quarter worth $117,215,000. WCM Investment Management LLC raised its stake in Canadian Natural Resources by 22.4% during the first quarter. WCM Investment Management LLC now owns 5,122,209 shares of the oil and gas producer’s stock worth $252,883,000 after acquiring an additional 938,210 shares in the last quarter. Quantitative Investment Management LLC bought a new position in shares of Canadian Natural Resources during the second quarter valued at $1,785,000. Finally, Amundi lifted its holdings in shares of Canadian Natural Resources by 3.1% during the second quarter. Amundi now owns 8,238,632 shares of the oil and gas producer’s stock valued at $325,426,000 after acquiring an additional 244,205 shares during the period. Institutional investors own 74.03% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on CNQ shares. Desjardins upgraded shares of Canadian Natural Resources to a “hold” rating in a research note on Thursday, July 16th. Zacks Research raised shares of Canadian Natural Resources from a “hold” rating to a “strong-buy” rating in a report on Monday, October 5th. Canadian Imperial Bank of Commerce restated an “outperform” rating on shares of Canadian Natural Resources in a research report on Friday, October 9th. Raymond James Financial cut shares of Canadian Natural Resources from an “outperform” rating to a “market perform” rating in a research note on Wednesday, October 14th. Finally, Scotiabank reaffirmed a “sector perform” rating on shares of Canadian Natural Resources in a research note on Monday, October 19th. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $57.00.

Canadian Natural Resources Trading Up 0.1%

CNQ stock opened at $55.09 on Tuesday. The company has a quick ratio of 0.75, a current ratio of 1.00 and a debt-to-equity ratio of 0.32. Canadian Natural Resources Limited has a twelve month low of $30.13 and a twelve month high of $55.49. The company has a market cap of $113.22 billion, a P/E ratio of 15.13 and a beta of 0.53. The business has a fifty day moving average of $50.20 and a 200-day moving average of $45.27.

Canadian Natural Resources (NYSE:CNQ) (TSE:CNQ) last posted its quarterly earnings results on Thursday, August 6th. The oil and gas producer reported $1.58 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.43 by $0.15. The business had revenue of $14.74 billion for the quarter, compared to analysts’ expectations of $9.40 billion. Canadian Natural Resources had a return on equity of 23.91% and a net margin of 22.78%. As a group, equities research analysts expect that Canadian Natural Resources Limited will post 4.10 EPS for the current year.

Canadian Natural Resources Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 2nd. Shareholders of record on Friday, September 11th were issued a dividend of C$0.62 per share. This represents a $2.50 annualized dividend and a yield of 4.5%. The ex-dividend date of this dividend was Friday, September 11th. Canadian Natural Resources’s payout ratio is currently 44.44%.

Canadian Natural Resources Company Profile

Canadian Natural Resources Limited is an independent energy company engaged in the exploration, development, production, marketing and sale of crude oil, natural gas and natural gas liquids. Its portfolio includes conventional and unconventional petroleum assets, heavy crude oil operations, and oil sands projects that produce bitumen and synthetic crude oil.

The company’s principal operations are located in Western Canada, including oil sands and conventional assets in Alberta and natural gas properties in Alberta and British Columbia.