Great West Life Assurance Co. Can lifted its stake in shares of Canadian Natural Resources Limited (NYSE:CNQ) (TSE:CNQ) by 5.5% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 9,123,162 shares of the oil and gas producer’s stock after purchasing an additional 478,811 shares during the quarter. Canadian Natural Resources comprises approximately 0.8% of Great West Life Assurance Co. Can’s portfolio, making the stock its 22nd biggest position. Great West Life Assurance Co. Can owned about 0.75% of Canadian Natural Resources worth $305,279,000 at the end of the most recent reporting period.
Several other institutional investors also recently added to or reduced their stakes in the company. Capital World Investors boosted its stake in Canadian Natural Resources by 6.0% in the 2nd quarter. Capital World Investors now owns 36,065,983 shares of the oil and gas producer’s stock worth $1,040,707,000 after buying an additional 2,042,846 shares during the last quarter. Vanguard Group Inc. increased its holdings in Canadian Natural Resources by 2.3% during the 2nd quarter. Vanguard Group Inc. now owns 26,244,673 shares of the oil and gas producer’s stock worth $756,896,000 after purchasing an additional 599,935 shares during the last quarter. TD Asset Management Inc. increased its holdings in Canadian Natural Resources by 6.5% during the 3rd quarter. TD Asset Management Inc. now owns 23,511,155 shares of the oil and gas producer’s stock worth $785,617,000 after purchasing an additional 1,437,849 shares during the last quarter. CIBC Asset Management Inc increased its holdings in Canadian Natural Resources by 11.9% during the 2nd quarter. CIBC Asset Management Inc now owns 16,749,799 shares of the oil and gas producer’s stock worth $482,767,000 after purchasing an additional 1,780,934 shares during the last quarter. Finally, Ameriprise Financial Inc. increased its holdings in Canadian Natural Resources by 11.1% during the 3rd quarter. Ameriprise Financial Inc. now owns 10,842,877 shares of the oil and gas producer’s stock worth $363,126,000 after purchasing an additional 1,080,838 shares during the last quarter. Institutional investors and hedge funds own 59.43% of the company’s stock.
Several brokerages have recently commented on CNQ. Zacks Investment Research upgraded Canadian Natural Resources from a “strong sell” rating to a “hold” rating in a research report on Thursday, August 17th. Canaccord Genuity restated a “buy” rating and set a $53.00 price objective on shares of Canadian Natural Resources in a research report on Wednesday, November 8th. Finally, Morgan Stanley boosted their price objective on Canadian Natural Resources from $46.00 to $52.00 and gave the company an “overweight” rating in a research report on Friday, October 13th. Two research analysts have rated the stock with a sell rating, two have issued a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus target price of $45.90.
Canadian Natural Resources Limited (NYSE:CNQ) opened at $34.85 on Tuesday. The firm has a market capitalization of $42,927.26, a price-to-earnings ratio of 38.72, a P/E/G ratio of 8.90 and a beta of 1.46. Canadian Natural Resources Limited has a 52-week low of $27.52 and a 52-week high of $36.79. The company has a current ratio of 0.71, a quick ratio of 0.56 and a debt-to-equity ratio of 0.67.
The firm also recently declared a quarterly dividend, which will be paid on Monday, January 1st. Investors of record on Tuesday, December 12th will be given a dividend of $0.214 per share. This represents a $0.86 annualized dividend and a yield of 2.46%. The ex-dividend date is Monday, December 11th. Canadian Natural Resources’s payout ratio is 52.07%.
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Canadian Natural Resources Company Profile
Canadian Natural Resources Limited is an independent crude oil and natural gas exploration, development and production company. The Company’s segments include Exploration and Production, Oil Sands Mining and Upgrading, and Midstream. The Exploration and Production segment includes exploration, development, production and marketing of crude oil, natural gas liquids (NGLs) and natural gas.
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