Canadian Natural Resources Limited (NYSE:CNQ) is Mackenzie Financial Corp’s 9th Largest Position

Mackenzie Financial Corp raised its holdings in Canadian Natural Resources Limited (NYSE:CNQ) (TSE:CNQ) by 90.3% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 30,017,414 shares of the oil and gas producer’s stock after buying an additional 14,246,978 shares during the period. Canadian Natural Resources comprises about 1.6% of Mackenzie Financial Corp’s holdings, making the stock its 9th largest position. Mackenzie Financial Corp’s holdings in Canadian Natural Resources were worth $1,069,338,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the stock. Park Place Capital Corp grew its stake in shares of Canadian Natural Resources by 100.0% in 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 during the last quarter. RFP Financial Group LLC raised its position in shares of Canadian Natural Resources by 98.3% during the 2nd quarter. RFP Financial Group LLC now owns 710 shares of the oil and gas producer’s stock worth $25,000 after purchasing an additional 352 shares during the last quarter. Sugarloaf Wealth Management LLC lifted its holdings in Canadian Natural Resources by 100.0% in the 2nd quarter. Sugarloaf Wealth Management LLC now owns 728 shares of the oil and gas producer’s stock valued at $26,000 after purchasing an additional 364 shares in the last quarter. Bruce G. Allen Investments LLC boosted its holdings in shares of Canadian Natural Resources by 91.6% in the 2nd quarter. Bruce G. Allen Investments LLC now owns 868 shares of the oil and gas producer’s stock valued at $31,000 after purchasing an additional 415 shares during the last quarter. Finally, GAMMA Investing LLC boosted its holdings in Canadian Natural Resources by 104.7% in the second 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 during the last quarter. 74.03% of the stock is currently owned by hedge funds and other institutional investors.

Canadian Natural Resources Stock Down 3.1 %

Shares of NYSE CNQ opened at $32.64 on Friday. 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. The business has a fifty day moving average of $34.65 and a two-hundred day moving average of $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 (NYSE:CNQ) (TSE:CNQ) last released its quarterly earnings results on Thursday, August 1st. The oil and gas producer reported $0.88 EPS for the quarter, beating analysts’ consensus estimates of $0.62 by $0.26. The firm had revenue of $7.76 billion for the quarter, compared to analyst estimates 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 period in the previous year, the business earned $0.43 earnings per share. As a group, equities research analysts expect that Canadian Natural Resources Limited will post 2.47 earnings per share for the current fiscal 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 dividend yield of 4.71%. Canadian Natural Resources’s dividend payout ratio is 61.75%.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on CNQ shares. StockNews.com cut shares of Canadian Natural Resources from a “buy” rating to a “hold” rating in a research report on Friday, August 23rd. Scotiabank reiterated 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 investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $49.50.

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).