Massachusetts Financial Services Co. MA Has $166.21 Million Holdings in Canadian Natural Resources Limited (NYSE:CNQ)

Massachusetts Financial Services Co. MA raised its position in shares of Canadian Natural Resources Limited (NYSE:CNQ) (TSE:CNQ) by 98.9% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 4,668,848 shares of the oil and gas producer’s stock after buying an additional 2,321,687 shares during the period. Massachusetts Financial Services Co. MA owned about 0.22% of Canadian Natural Resources worth $166,211,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Park Place Capital Corp increased its holdings in Canadian Natural Resources by 100.0% during the 2nd quarter. Park Place Capital Corp now owns 716 shares of the oil and gas producer’s stock valued at $25,000 after purchasing an additional 358 shares in the last quarter. RFP Financial Group LLC raised its holdings in shares of Canadian Natural Resources by 98.3% in the second quarter. RFP Financial Group LLC now owns 710 shares of the oil and gas producer’s stock valued at $25,000 after buying an additional 352 shares during the last quarter. Sugarloaf Wealth Management LLC lifted its position in Canadian Natural Resources by 100.0% during the 2nd quarter. Sugarloaf Wealth Management LLC now owns 728 shares of the oil and gas producer’s stock worth $26,000 after buying an additional 364 shares in the last quarter. Bruce G. Allen Investments LLC grew its holdings in Canadian Natural Resources by 91.6% during the 2nd quarter. Bruce G. Allen Investments LLC now owns 868 shares of the oil and gas producer’s stock worth $31,000 after acquiring an additional 415 shares during the last quarter. Finally, GAMMA Investing LLC increased its position in Canadian Natural Resources by 104.7% in the 2nd quarter. GAMMA Investing LLC now owns 874 shares of the oil and gas producer’s stock valued at $31,000 after acquiring an additional 447 shares in the last quarter. Institutional investors own 74.03% of the company’s stock.

Analyst Ratings Changes

CNQ has been the topic of a number of research reports. StockNews.com lowered shares of Canadian Natural Resources from a “buy” rating to a “hold” rating in a research report on Friday, August 23rd. Raymond James upgraded Canadian Natural Resources to a “hold” rating in a research report on Tuesday, May 28th. Scotiabank restated a “sector perform” rating on shares of Canadian Natural Resources in a research report on Tuesday, June 11th. Finally, Wolfe Research began coverage on Canadian Natural Resources in a report on Thursday, July 18th. They issued a “peer perform” rating on the stock. Six equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to MarketBeat.com, Canadian Natural Resources currently has an average rating of “Hold” and an average target price of $49.50.

Canadian Natural Resources Price Performance

Shares of CNQ stock opened at $32.85 on Wednesday. The firm’s 50 day moving average price is $34.95 and its two-hundred day moving average price is $36.46. The stock has a market cap of $69.90 billion, a PE ratio of 13.09 and a beta of 1.51. Canadian Natural Resources Limited has a 52-week low of $29.45 and a 52-week high of $41.29. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.59 and a current ratio of 0.88.

Canadian Natural Resources (NYSE:CNQ) (TSE:CNQ) last announced its quarterly earnings data on Thursday, August 1st. The oil and gas producer reported $0.88 EPS for the quarter, topping analysts’ consensus estimates of $0.62 by $0.26. Canadian Natural Resources had a return on equity of 22.09% and a net margin of 18.05%. The business had revenue of $7.76 billion during the quarter, compared to analysts’ expectations of $6.19 billion. During the same period in the previous year, the firm earned $0.43 earnings per share. As a group, analysts forecast that Canadian Natural Resources Limited will post 2.49 EPS for the current year.

Canadian Natural Resources Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, October 4th. Stockholders of record on Friday, September 13th will be paid a $0.384 dividend. The ex-dividend date is Friday, September 13th. This represents a $1.54 dividend on an annualized basis and a dividend yield of 4.68%. Canadian Natural Resources’s dividend payout ratio (DPR) is presently 61.75%.

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).