Canadian Natural Resources Limited (NYSE:CNQ) Shares Acquired by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company increased its position in Canadian Natural Resources Limited (NYSE:CNQ) (TSE:CNQ) by 102.3% in the 2nd quarter, Holdings Channel reports. The firm owned 27,084,649 shares of the oil and gas producer’s stock after buying an additional 13,694,741 shares during the period. Canadian Natural Resources makes up 0.9% of The Manufacturers Life Insurance Company’s holdings, making the stock its 10th biggest holding. The Manufacturers Life Insurance Company’s holdings in Canadian Natural Resources were worth $963,348,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the company. Capital World Investors increased its holdings in shares of Canadian Natural Resources by 0.5% in the 1st quarter. Capital World Investors now owns 144,344,207 shares of the oil and gas producer’s stock valued at $11,011,765,000 after acquiring an additional 684,532 shares during the period. Vanguard Group Inc. grew its position in Canadian Natural Resources by 1.7% during the 1st quarter. Vanguard Group Inc. now owns 43,813,537 shares of the oil and gas producer’s stock worth $3,343,849,000 after purchasing an additional 714,346 shares during the last quarter. TD Asset Management Inc increased its stake in Canadian Natural Resources by 96.2% in the second quarter. TD Asset Management Inc now owns 42,518,833 shares of the oil and gas producer’s stock valued at $1,514,190,000 after purchasing an additional 20,843,193 shares during the period. Canada Pension Plan Investment Board increased its position in Canadian Natural Resources by 93.0% during the 2nd quarter. Canada Pension Plan Investment Board now owns 41,464,502 shares of the oil and gas producer’s stock worth $1,476,644,000 after purchasing an additional 19,980,902 shares during the period. Finally, 1832 Asset Management L.P. raised its stake in shares of Canadian Natural Resources by 105.3% during the 2nd quarter. 1832 Asset Management L.P. now owns 31,668,045 shares of the oil and gas producer’s stock worth $1,127,382,000 after buying an additional 16,245,046 shares in the last quarter. 74.03% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

CNQ has been the topic of a number of analyst reports. Wolfe Research started coverage on Canadian Natural Resources in a research note on Thursday, July 18th. They issued a “peer perform” rating on the stock. StockNews.com downgraded Canadian Natural Resources from a “buy” rating to a “hold” rating in a report on Friday, August 23rd. Finally, Scotiabank reaffirmed a “sector perform” rating on shares of Canadian Natural Resources in a research note on Tuesday, June 11th. Six analysts have rated the stock with a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat.com, Canadian Natural Resources has a consensus rating of “Hold” and an average target price of $49.50.

Canadian Natural Resources Price Performance

Shares of NYSE:CNQ opened at $32.64 on Friday. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.59 and a current ratio of 0.88. The business’s fifty day moving average price is $34.65 and its two-hundred day moving average price is $36.37. The stock has a market cap of $69.45 billion, a PE ratio of 13.00 and a beta of 1.51. Canadian Natural Resources Limited has a one year low of $29.45 and a one year high of $41.29.

Canadian Natural Resources (NYSE:CNQ) (TSE:CNQ) last announced its earnings results on Thursday, August 1st. The oil and gas producer reported $0.88 earnings per share for the quarter, beating the consensus estimate of $0.62 by $0.26. Canadian Natural Resources had a net margin of 18.05% and a return on equity of 22.09%. The firm had revenue of $7.76 billion during the quarter, compared to the consensus estimate of $6.19 billion. During the same quarter in the previous year, the company posted $0.43 EPS. On average, analysts forecast that Canadian Natural Resources Limited will post 2.47 EPS for the current fiscal year.

Canadian Natural Resources Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 4th. Investors of record on Friday, September 13th will be paid a dividend of $0.384 per share. This represents a $1.54 annualized dividend and a dividend yield of 4.71%. The ex-dividend date of this dividend is Friday, September 13th. Canadian Natural Resources’s payout ratio is 61.75%.

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).