FDx Advisors Inc. Cuts Holdings in Canadian Natural Resources Limited (NYSE:CNQ)

FDx Advisors Inc. reduced its position in Canadian Natural Resources Limited (NYSE:CNQ) (TSE:CNQ) by 3.1% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 10,797 shares of the oil and gas producer’s stock after selling 350 shares during the period. FDx Advisors Inc.’s holdings in Canadian Natural Resources were worth $359,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in CNQ. TD Asset Management Inc raised its position 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 buying an additional 20,843,193 shares during the period. Canada Pension Plan Investment Board raised its position in Canadian Natural Resources by 93.0% in the second quarter. Canada Pension Plan Investment Board now owns 41,464,502 shares of the oil and gas producer’s stock valued at $1,476,644,000 after purchasing an additional 19,980,902 shares during the period. 1832 Asset Management L.P. raised its position in Canadian Natural Resources by 105.3% in 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 purchasing an additional 16,245,046 shares during the period. Yacktman Asset Management LP raised its position 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 purchasing an additional 14,418,835 shares during the period. Finally, Mackenzie Financial Corp raised its position in Canadian Natural Resources by 90.3% in the second 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 purchasing an additional 14,246,978 shares during the period. 74.03% of the stock is owned by hedge funds and other institutional investors.

Canadian Natural Resources Stock Up 0.2 %

Shares of Canadian Natural Resources stock opened at $34.24 on Tuesday. The company has a market capitalization of $72.37 billion, a PE ratio of 13.30 and a beta of 1.50. Canadian Natural Resources Limited has a 1-year low of $29.45 and a 1-year high of $41.29. The business has a 50-day moving average of $34.51 and a 200-day moving average of $35.63. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.84 and a quick ratio of 0.53.

Canadian Natural Resources (NYSE:CNQ) (TSE:CNQ) last posted its quarterly earnings results on Thursday, October 31st. The oil and gas producer reported $0.97 EPS for the quarter, topping analysts’ consensus estimates of $0.67 by $0.30. The business had revenue of $7.62 billion during the quarter, compared to the consensus estimate 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 period last year, the firm earned $0.96 earnings per share. As a group, equities analysts forecast that Canadian Natural Resources Limited will post 2.38 EPS for the current fiscal year.

Canadian Natural Resources Increases Dividend

The company 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. This represents a $1.55 dividend on an annualized basis and a yield of 4.53%. This is an increase from Canadian Natural Resources’s previous quarterly dividend of $0.38. The ex-dividend date is Friday, December 13th. Canadian Natural Resources’s dividend payout ratio (DPR) is 60.58%.

Analyst Upgrades and Downgrades

Several research firms have commented on CNQ. Desjardins raised Canadian Natural Resources from a “hold” rating to a “moderate buy” rating in a research report on Tuesday, October 8th. Wolfe Research started coverage on Canadian Natural Resources in a research note on Thursday, July 18th. They set a “peer perform” rating for the company. Finally, StockNews.com downgraded Canadian Natural Resources from a “buy” rating to a “hold” rating in a research note on Friday, August 23rd. Five investment analysts have rated the stock with a hold rating, According to data from MarketBeat, Canadian Natural Resources currently has an average rating of “Hold” and an average target price of $51.00.

About Canadian Natural Resources

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).