Mackenzie Financial Corp Sells 1,382,491 Shares of Canadian Natural Resources Limited (NYSE:CNQ)

Mackenzie Financial Corp cut its stake in Canadian Natural Resources Limited (NYSE:CNQ - Free Report) TSE: CNQ by 8.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 15,707,050 shares of the oil and gas producer's stock after selling 1,382,491 shares during the period. Canadian Natural Resources comprises about 1.6% of Mackenzie Financial Corp's investment portfolio, making the stock its 9th largest position. Mackenzie Financial Corp owned 1.46% of Canadian Natural Resources worth $1,029,545,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in the stock. Vanguard Group Inc. raised its position in Canadian Natural Resources by 6.2% during the 1st quarter. Vanguard Group Inc. now owns 40,235,475 shares of the oil and gas producer's stock valued at $2,493,796,000 after purchasing an additional 2,332,528 shares in the last quarter. Arrowstreet Capital Limited Partnership bought a new position in Canadian Natural Resources during the 1st quarter worth about $960,796,000. 1832 Asset Management L.P. increased its position in Canadian Natural Resources by 1.7% during the 4th quarter. 1832 Asset Management L.P. now owns 14,225,902 shares of the oil and gas producer's stock valued at $789,964,000 after purchasing an additional 234,170 shares during the period. The Manufacturers Life Insurance Company raised its holdings in shares of Canadian Natural Resources by 15.8% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 12,852,785 shares of the oil and gas producer's stock valued at $837,145,000 after purchasing an additional 1,750,013 shares in the last quarter. Finally, Toronto Dominion Bank lifted its position in shares of Canadian Natural Resources by 4.0% in the 3rd quarter. Toronto Dominion Bank now owns 11,642,676 shares of the oil and gas producer's stock worth $752,932,000 after purchasing an additional 442,986 shares during the period. 74.03% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Separately, JPMorgan Chase & Co. lifted their price objective on shares of Canadian Natural Resources from $101.00 to $102.00 and gave the company a "neutral" rating in a report on Thursday, January 11th. Five investment analysts have rated the stock with a hold rating and two have given a buy rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $94.00.

Canadian Natural Resources Stock Down 2.1 %

Shares of CNQ stock traded down $1.69 during mid-day trading on Monday, hitting $77.54. 5,992,257 shares of the stock traded hands, compared to its average volume of 3,292,155. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.96 and a quick ratio of 0.69. The stock has a market cap of $83.13 billion, a P/E ratio of 14.00 and a beta of 1.54. The stock's fifty day moving average is $71.23 and its two-hundred day moving average is $66.93. Canadian Natural Resources Limited has a 52-week low of $52.66 and a 52-week high of $82.58.

Canadian Natural Resources (NYSE:CNQ - Get Free Report) TSE: CNQ last issued its quarterly earnings results on Thursday, February 29th. The oil and gas producer reported $1.72 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.59 by $0.13. The business had revenue of $7.02 billion for the quarter, compared to the consensus estimate of $6.73 billion. Canadian Natural Resources had a return on equity of 21.74% and a net margin of 20.15%. Equities analysts predict that Canadian Natural Resources Limited will post 5.52 EPS for the current year.

Canadian Natural Resources Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, April 5th. Stockholders of record on Friday, March 15th were issued a dividend of $0.774 per share. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $3.10 annualized dividend and a dividend yield of 3.99%. This is an increase from Canadian Natural Resources's previous quarterly dividend of $0.72. Canadian Natural Resources's dividend payout ratio is 53.25%.

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).