Massachusetts Financial Services Co. MA Sells 85,565 Shares of Canadian Natural Resources Limited (NYSE:CNQ)

Massachusetts Financial Services Co. MA lowered its position in shares of Canadian Natural Resources Limited (NYSE:CNQ) (TSE:CNQ) by 1.8% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,583,283 shares of the oil and gas producer’s stock after selling 85,565 shares during the period. Massachusetts Financial Services Co. MA owned approximately 0.22% of Canadian Natural Resources worth $152,211,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in CNQ. TD Asset Management Inc increased 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 worth $1,514,190,000 after purchasing an additional 20,843,193 shares in the last quarter. Canada Pension Plan Investment Board increased its holdings in Canadian Natural Resources by 93.0% in the 2nd 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 buying an additional 19,980,902 shares in the last quarter. 1832 Asset Management L.P. raised its position in Canadian Natural Resources by 105.3% in the 2nd quarter. 1832 Asset Management L.P. now owns 31,668,045 shares of the oil and gas producer’s stock worth $1,127,382,000 after buying an additional 16,245,046 shares during the last quarter. Mackenzie Financial Corp lifted its stake in Canadian Natural Resources by 90.3% during the 2nd quarter. Mackenzie Financial Corp now owns 30,017,414 shares of the oil and gas producer’s stock valued at $1,069,338,000 after acquiring an additional 14,246,978 shares during the period. Finally, Yacktman Asset Management LP boosted its holdings in shares of Canadian Natural Resources by 95.9% during the 2nd 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 last quarter. 74.03% of the stock is currently owned by hedge funds and other institutional investors.

Canadian Natural Resources Price Performance

Shares of NYSE:CNQ opened at $34.84 on Friday. The firm’s 50 day moving average price is $34.59 and its 200-day moving average price is $35.35. The company has a quick ratio of 0.53, a current ratio of 0.84 and a debt-to-equity ratio of 0.21. The stock has a market capitalization of $73.53 billion, a PE ratio of 13.53 and a beta of 1.50. Canadian Natural Resources Limited has a twelve month low of $29.45 and a twelve month high of $41.29.

Canadian Natural Resources (NYSE:CNQ) (TSE:CNQ) last released its quarterly earnings results on Thursday, October 31st. The oil and gas producer reported $0.97 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.67 by $0.30. The business had revenue of $7.62 billion during the quarter, compared to analyst estimates of $6.40 billion. Canadian Natural Resources had a return on equity of 20.07% and a net margin of 18.45%. During the same quarter in the previous year, the company posted $0.96 earnings per share. Equities research analysts expect that Canadian Natural Resources Limited will post 2.44 EPS for the current year.

Canadian Natural Resources Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 3rd. Investors of record on Friday, December 13th will be given a dividend of $0.388 per share. The ex-dividend date is Friday, December 13th. This represents a $1.55 annualized dividend and a dividend yield of 4.45%. This is a boost from Canadian Natural Resources’s previous quarterly dividend of $0.38. Canadian Natural Resources’s dividend payout ratio (DPR) is currently 60.58%.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on CNQ shares. Desjardins upgraded shares of Canadian Natural Resources from a “hold” rating to a “moderate buy” rating in a research report on Tuesday, October 8th. StockNews.com cut Canadian Natural Resources from a “buy” rating to a “hold” rating in a report on Friday, August 23rd. Five equities research analysts have rated the stock with a hold rating, Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $51.00.

Canadian Natural Resources Company 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).