Intact Investment Management Inc. Has $23.62 Million Holdings in Canadian Natural Resources Limited (NYSE:CNQ)

Intact Investment Management Inc. lowered its position in shares of Canadian Natural Resources Limited (NYSE:CNQ) (TSE:CNQ) by 34.5% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 360,580 shares of the oil and gas producer’s stock after selling 189,910 shares during the quarter. Canadian Natural Resources accounts for about 1.0% of Intact Investment Management Inc.’s holdings, making the stock its 28th largest position. Intact Investment Management Inc.’s holdings in Canadian Natural Resources were worth $23,624,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in CNQ. Healthcare of Ontario Pension Plan Trust Fund increased its stake in Canadian Natural Resources by 43.2% in the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 7,640,000 shares of the oil and gas producer’s stock valued at $494,262,000 after buying an additional 2,305,000 shares during the period. WCM Investment Management LLC increased its stake in Canadian Natural Resources by 9,297.9% in the 4th quarter. WCM Investment Management LLC now owns 2,192,895 shares of the oil and gas producer’s stock valued at $143,284,000 after buying an additional 2,169,561 shares during the period. Morgan Stanley increased its stake in Canadian Natural Resources by 33.4% in the 3rd quarter. Morgan Stanley now owns 7,311,061 shares of the oil and gas producer’s stock valued at $472,806,000 after buying an additional 1,831,015 shares during the period. The Manufacturers Life Insurance Company increased its stake in Canadian Natural Resources by 15.8% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 12,852,785 shares of the oil and gas producer’s stock valued at $837,145,000 after buying an additional 1,750,013 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. increased its stake in Canadian Natural Resources by 32.5% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 7,066,855 shares of the oil and gas producer’s stock valued at $456,999,000 after buying an additional 1,733,988 shares during the period. Institutional investors and hedge funds own 74.03% of the company’s stock.

Canadian Natural Resources Stock Performance

NYSE:CNQ traded up $0.63 during midday trading on Friday, reaching $77.97. The stock had a trading volume of 1,599,385 shares, compared to its average volume of 4,195,675. Canadian Natural Resources Limited has a 1-year low of $52.66 and a 1-year high of $82.58. The firm’s fifty day simple moving average is $74.12 and its 200-day simple moving average is $67.77. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.96 and a quick ratio of 0.69. The stock has a market capitalization of $83.59 billion, a P/E ratio of 14.07 and a beta of 1.54.

Canadian Natural Resources (NYSE:CNQ) (TSE:CNQ) last posted its earnings results on Thursday, February 29th. The oil and gas producer reported $1.72 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.59 by $0.13. Canadian Natural Resources had a net margin of 20.15% and a return on equity of 21.74%. The business had revenue of $7.02 billion for the quarter, compared to analyst estimates of $6.73 billion. On average, equities research analysts forecast that Canadian Natural Resources Limited will post 5.71 EPS for the current fiscal year.

Canadian Natural Resources Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, April 5th. Investors of record on Friday, March 15th were paid a $0.774 dividend. The ex-dividend date of this dividend was Thursday, March 14th. This is a positive change from Canadian Natural Resources’s previous quarterly dividend of $0.72. This represents a $3.10 dividend on an annualized basis and a yield of 3.97%. Canadian Natural Resources’s dividend payout ratio (DPR) is presently 53.25%.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on CNQ. JPMorgan Chase & Co. increased their price target on shares of Canadian Natural Resources from $101.00 to $102.00 and gave the stock a “neutral” rating in a research note on Thursday, January 11th. Desjardins lowered shares of Canadian Natural Resources from a “buy” rating to a “hold” rating in a research note on Tuesday. Six research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $94.00.

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).