Toronto Dominion Bank Raises Stock Holdings in Canadian Natural Resources Limited (NYSE:CNQ)

Toronto Dominion Bank raised its position in shares of Canadian Natural Resources Limited (NYSE:CNQ) (TSE:CNQ) by 254.7% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 18,501,417 shares of the oil and gas producer’s stock after buying an additional 13,284,985 shares during the quarter. Canadian Natural Resources comprises approximately 1.1% of Toronto Dominion Bank’s portfolio, making the stock its 18th biggest position. Toronto Dominion Bank owned 0.87% of Canadian Natural Resources worth $658,650,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Capital World Investors increased its stake in shares of Canadian Natural Resources by 0.5% during the first 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 purchasing an additional 684,532 shares in the last quarter. Vanguard Group Inc. increased its holdings in shares of Canadian Natural Resources by 1.7% during the first quarter. Vanguard Group Inc. now owns 43,813,537 shares of the oil and gas producer’s stock valued at $3,343,849,000 after acquiring an additional 714,346 shares in the last quarter. TD Asset Management Inc boosted its stake in 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 purchasing an additional 20,843,193 shares in the last quarter. Canada Pension Plan Investment Board increased its stake 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 valued at $1,476,644,000 after purchasing an additional 19,980,902 shares in the last quarter. Finally, 1832 Asset Management L.P. lifted its stake in shares of 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 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 hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

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

Canadian Natural Resources Stock Performance

Shares of CNQ opened at $34.61 on Wednesday. Canadian Natural Resources Limited has a 52 week low of $29.45 and a 52 week high of $41.29. The company has a quick ratio of 0.59, a current ratio of 0.88 and a debt-to-equity ratio of 0.24. The stock has a market cap of $73.29 billion, a price-to-earnings ratio of 13.79 and a beta of 1.51. The business has a 50-day simple moving average of $34.69 and a two-hundred day simple moving average of $36.39.

Canadian Natural Resources (NYSE:CNQ) (TSE:CNQ) last released its earnings results 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. The company had revenue of $7.76 billion for the quarter, compared to analysts’ expectations of $6.19 billion. Canadian Natural Resources had a net margin of 18.05% and a return on equity of 22.09%. During the same quarter last year, the business earned $0.43 EPS. On average, analysts expect that Canadian Natural Resources Limited will post 2.47 EPS for the current year.

Canadian Natural Resources Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 4th. Investors of record on Friday, September 13th will be issued a $0.384 dividend. The ex-dividend date of this dividend is Friday, September 13th. This represents a $1.54 dividend on an annualized basis and a yield of 4.44%. Canadian Natural Resources’s dividend payout ratio is presently 62.15%.

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).