Healthcare of Ontario Pension Plan Trust Fund Has $1.15 Billion Position in Canadian Natural Resources Limited $CNQ

Healthcare of Ontario Pension Plan Trust Fund reduced its position in shares of Canadian Natural Resources Limited (NYSE:CNQ) (TSE:CNQ) by 0.8% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 34,060,000 shares of the oil and gas producer’s stock after selling 260,000 shares during the quarter. Canadian Natural Resources accounts for 1.9% of Healthcare of Ontario Pension Plan Trust Fund’s investment portfolio, making the stock its 11th biggest holding. Healthcare of Ontario Pension Plan Trust Fund owned about 1.64% of Canadian Natural Resources worth $1,153,781,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Manchester Capital Management LLC acquired a new stake in Canadian Natural Resources during the 4th quarter valued at $28,000. Leonteq Securities AG acquired a new stake in Canadian Natural Resources during the 4th quarter valued at $31,000. GoalVest Advisory LLC acquired a new stake in Canadian Natural Resources during the 4th quarter valued at $32,000. Quarry LP acquired a new stake in Canadian Natural Resources during the 3rd quarter valued at $32,000. Finally, LOM Asset Management Ltd acquired a new stake in Canadian Natural Resources during the 4th quarter valued at $34,000. 74.03% of the stock is owned by institutional investors and hedge funds.

Canadian Natural Resources Trading Down 0.3%

NYSE CNQ opened at $45.32 on Friday. Canadian Natural Resources Limited has a 1-year low of $29.30 and a 1-year high of $51.34. The company has a current ratio of 0.98, a quick ratio of 0.68 and a debt-to-equity ratio of 0.37. The company has a market capitalization of $94.33 billion, a PE ratio of 13.53 and a beta of 0.45. The firm’s fifty day simple moving average is $46.46 and its 200-day simple moving average is $41.37.

Canadian Natural Resources (NYSE:CNQ) (TSE:CNQ) last posted its quarterly earnings results on Thursday, May 7th. The oil and gas producer reported $0.85 earnings per share for the quarter, topping analysts’ consensus estimates of $0.74 by $0.11. The business had revenue of $7.72 billion for the quarter, compared to the consensus estimate of $7.57 billion. Canadian Natural Resources had a net margin of 22.04% and a return on equity of 17.49%. During the same period in the prior year, the business posted $1.16 earnings per share. As a group, sell-side analysts anticipate that Canadian Natural Resources Limited will post 4.2 earnings per share for the current fiscal year.

Canadian Natural Resources Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 7th. Shareholders of record on Tuesday, June 23rd will be given a dividend of $0.625 per share. This represents a $2.50 annualized dividend and a yield of 5.5%. The ex-dividend date of this dividend is Tuesday, June 23rd. Canadian Natural Resources’s dividend payout ratio is presently 54.63%.

Analysts Set New Price Targets

Several analysts have issued reports on the stock. ATB Cormark Capital Markets downgraded shares of Canadian Natural Resources from a “strong-buy” rating to a “moderate buy” rating in a research note on Thursday, March 5th. Weiss Ratings downgraded shares of Canadian Natural Resources from a “buy (b)” rating to a “buy (b-)” rating in a research note on Monday, May 11th. Royal Bank Of Canada upped their price target on shares of Canadian Natural Resources from $61.00 to $65.00 and gave the stock an “outperform” rating in a research note on Friday, March 6th. Scotiabank reaffirmed an “outperform” rating on shares of Canadian Natural Resources in a research note on Wednesday, May 20th. Finally, Raymond James Financial raised shares of Canadian Natural Resources from a “market perform” rating to an “outperform” rating in a research note on Thursday, May 7th. Seven research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $57.00.

Canadian Natural Resources Profile

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.