Canadian Natural Resources Limited $CNQ Shares Sold by Massachusetts Financial Services Co. MA

Massachusetts Financial Services Co. MA lowered its holdings in Canadian Natural Resources Limited (NYSE:CNQ) (TSE:CNQ) by 9.5% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 4,161,061 shares of the oil and gas producer’s stock after selling 438,863 shares during the period. Massachusetts Financial Services Co. MA owned 0.20% of Canadian Natural Resources worth $132,988,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Ameritas Advisory Services LLC acquired a new stake in Canadian Natural Resources in the 2nd quarter worth about $27,000. Addison Advisors LLC increased its stake in shares of Canadian Natural Resources by 309.1% during the 2nd quarter. Addison Advisors LLC now owns 896 shares of the oil and gas producer’s stock valued at $28,000 after acquiring an additional 677 shares during the last quarter. St. Johns Investment Management Company LLC purchased a new position in shares of Canadian Natural Resources during the 3rd quarter worth about $32,000. Nisa Investment Advisors LLC boosted its position in shares of Canadian Natural Resources by 100.0% in the third quarter. Nisa Investment Advisors LLC now owns 1,000 shares of the oil and gas producer’s stock worth $32,000 after acquiring an additional 500 shares during the last quarter. Finally, Geneos Wealth Management Inc. boosted its position in shares of Canadian Natural Resources by 47.3% in the first quarter. Geneos Wealth Management Inc. now owns 1,644 shares of the oil and gas producer’s stock worth $51,000 after acquiring an additional 528 shares during the last quarter. 74.03% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

CNQ has been the subject of several research analyst reports. Desjardins lowered shares of Canadian Natural Resources from a “buy” rating to a “hold” rating in a research report on Monday, November 24th. Wall Street Zen cut shares of Canadian Natural Resources from a “hold” rating to a “sell” rating in a research note on Saturday, January 10th. Weiss Ratings restated a “hold (c)” rating on shares of Canadian Natural Resources in a report on Wednesday, October 8th. The Goldman Sachs Group set a $35.00 price target on Canadian Natural Resources and gave the company a “buy” rating in a research report on Friday, January 2nd. Finally, Wells Fargo & Company upgraded Canadian Natural Resources to a “hold” rating in a research note on Thursday, October 16th. Five research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Canadian Natural Resources has an average rating of “Hold” and a consensus price target of $48.50.

Canadian Natural Resources Price Performance

Canadian Natural Resources stock opened at $34.41 on Wednesday. The firm has a fifty day moving average of $33.19 and a 200-day moving average of $32.00. Canadian Natural Resources Limited has a 52-week low of $24.65 and a 52-week high of $35.12. The company has a quick ratio of 0.53, a current ratio of 0.86 and a debt-to-equity ratio of 0.41. The firm has a market capitalization of $71.62 billion, a P/E ratio of 15.22 and a beta of 0.69.

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

Canadian Natural Resources Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, January 6th. Stockholders of record on Friday, December 12th were paid a $0.5875 dividend. This represents a $2.35 dividend on an annualized basis and a dividend yield of 6.8%. This is an increase from Canadian Natural Resources’s previous quarterly dividend of $0.43. The ex-dividend date was Friday, December 12th. Canadian Natural Resources’s payout ratio is 74.34%.

Canadian Natural Resources Company 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.