Sumitomo Mitsui Trust Group Inc. Sells 6,743 Shares of Canadian Natural Resources Limited (NYSE:CNQ)

Sumitomo Mitsui Trust Group Inc. lowered its holdings in Canadian Natural Resources Limited (NYSE:CNQ) (TSE:CNQ) by 10.2% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 59,435 shares of the oil and gas producer’s stock after selling 6,743 shares during the period. Sumitomo Mitsui Trust Group Inc.’s holdings in Canadian Natural Resources were worth $1,974,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Capital World Investors raised its position in shares of Canadian Natural Resources by 0.5% in 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 during the period. TD Asset Management Inc increased its holdings in Canadian Natural Resources by 96.2% during 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 acquiring an additional 20,843,193 shares during the period. Canada Pension Plan Investment Board increased its holdings 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 acquiring an additional 19,980,902 shares during the period. 1832 Asset Management L.P. increased its holdings in 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 acquiring an additional 16,245,046 shares during the period. Finally, Mackenzie Financial Corp increased its holdings in Canadian Natural Resources by 90.3% during the 2nd quarter. Mackenzie Financial Corp now owns 30,017,414 shares of the oil and gas producer’s stock worth $1,069,338,000 after acquiring an additional 14,246,978 shares during the period. Institutional investors own 74.03% of the company’s stock.

Wall Street Analyst Weigh In

CNQ has been the topic of a number of analyst reports. StockNews.com lowered shares of Canadian Natural Resources from a “buy” rating to a “hold” rating in a report on Friday, August 23rd. Desjardins raised shares of Canadian Natural Resources from a “hold” rating to a “moderate buy” rating in a report on Tuesday, October 8th. Five analysts have rated the stock with a hold rating, According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $51.00.

Canadian Natural Resources Price Performance

Shares of NYSE:CNQ opened at $33.66 on Tuesday. The company’s fifty day moving average price is $34.44 and its 200-day moving average price is $35.44. The firm has a market capitalization of $71.04 billion, a price-to-earnings ratio of 13.07 and a beta of 1.50. Canadian Natural Resources Limited has a one year low of $29.45 and a one year high of $41.29. 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 issued 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 firm had revenue of $7.62 billion for the quarter, compared to analyst estimates of $6.40 billion. Canadian Natural Resources had a net margin of 18.45% and a return on equity of 20.07%. During the same quarter in the prior year, the firm earned $0.96 EPS. On average, equities research analysts anticipate that Canadian Natural Resources Limited will post 2.44 earnings per share for the current fiscal year.

Canadian Natural Resources Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, January 3rd. Stockholders of record on Friday, December 13th will be issued a $0.388 dividend. This is a positive change from Canadian Natural Resources’s previous quarterly dividend of $0.38. The ex-dividend date is Friday, December 13th. This represents a $1.55 dividend on an annualized basis and a dividend yield of 4.61%. Canadian Natural Resources’s dividend payout ratio is presently 60.58%.

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).