Canadian Natural Resources Limited (NYSE:CNQ) Shares Sold by Bridgewater Associates LP

Bridgewater Associates LP reduced its stake in shares of Canadian Natural Resources Limited (NYSE:CNQ) (TSE:CNQ) by 2.7% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 124,286 shares of the oil and gas producer’s stock after selling 3,433 shares during the period. Bridgewater Associates LP’s holdings in Canadian Natural Resources were worth $4,132,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the business. TD Asset Management Inc lifted its holdings in shares of Canadian Natural Resources by 96.2% in the 2nd quarter. TD Asset Management Inc now owns 42,518,833 shares of the oil and gas producer’s stock valued at $1,514,190,000 after buying an additional 20,843,193 shares during the period. Canada Pension Plan Investment Board grew its holdings in Canadian Natural Resources by 93.0% during 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 acquiring an additional 19,980,902 shares during the period. 1832 Asset Management L.P. raised its position in Canadian Natural Resources by 105.3% during the second 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 acquiring an additional 16,245,046 shares in the last quarter. Yacktman Asset Management LP lifted its holdings in Canadian Natural Resources by 95.9% in the second 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 acquiring an additional 14,418,835 shares during the period. Finally, Mackenzie Financial Corp boosted its position in Canadian Natural Resources by 90.3% in the 2nd quarter. Mackenzie Financial Corp now owns 30,017,414 shares of the oil and gas producer’s stock worth $1,069,338,000 after purchasing an additional 14,246,978 shares in the last quarter. 74.03% of the stock is owned by hedge funds and other institutional investors.

Canadian Natural Resources Trading Up 0.9 %

Shares of CNQ stock opened at $33.82 on Friday. Canadian Natural Resources Limited has a 1-year low of $29.45 and a 1-year high of $41.29. The company has a market cap of $71.37 billion, a price-to-earnings ratio of 13.13 and a beta of 1.50. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.84 and a quick ratio of 0.53. The stock has a 50 day simple moving average of $34.65 and a 200-day simple moving average of $35.21.

Canadian Natural Resources (NYSE:CNQ) (TSE:CNQ) last issued its quarterly earnings results on Thursday, October 31st. The oil and gas producer reported $0.97 EPS for the quarter, topping the consensus estimate of $0.67 by $0.30. The company had revenue of $7.62 billion during the quarter, compared to analyst estimates of $6.40 billion. Canadian Natural Resources had a net margin of 18.45% and a return on equity of 20.07%. During the same quarter in the previous year, the firm earned $0.96 EPS. On average, equities research analysts expect that Canadian Natural Resources Limited will post 2.47 EPS for the current fiscal year.

Canadian Natural Resources Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, January 3rd. Investors of record on Friday, December 13th will be paid a $0.388 dividend. The ex-dividend date of this dividend is Friday, December 13th. This is a positive change from Canadian Natural Resources’s previous quarterly dividend of $0.38. This represents a $1.55 dividend on an annualized basis and a yield of 4.59%. Canadian Natural Resources’s dividend payout ratio (DPR) is currently 60.58%.

Wall Street Analysts Forecast Growth

CNQ has been the subject of several analyst reports. Desjardins upgraded shares of Canadian Natural Resources from a “hold” rating to a “moderate buy” rating in a research note on Tuesday, October 8th. StockNews.com cut shares of Canadian Natural Resources from a “buy” rating to a “hold” rating in a report on Friday, August 23rd. Five research analysts have rated the stock with a hold rating, According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $51.00.

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).