Canadian Natural Resources Limited (NYSE:CNQ) Shares Sold by Intact Investment Management Inc.

Intact Investment Management Inc. reduced its holdings in shares of Canadian Natural Resources Limited (NYSE:CNQ - Free Report) TSE: CNQ by 34.5% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 360,580 shares of the oil and gas producer's stock after selling 189,910 shares during the period. Canadian Natural Resources comprises 1.0% of Intact Investment Management Inc.'s portfolio, making the stock its 28th largest holding. Intact Investment Management Inc.'s holdings in Canadian Natural Resources were worth $23,624,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Central Bank & Trust Co. purchased a new stake in shares of Canadian Natural Resources in the fourth quarter worth $26,000. GAMMA Investing LLC purchased a new stake in shares of Canadian Natural Resources in the fourth quarter worth $27,000. Janiczek Wealth Management LLC increased its stake in shares of Canadian Natural Resources by 39.7% in the fourth quarter. Janiczek Wealth Management LLC now owns 609 shares of the oil and gas producer's stock worth $40,000 after purchasing an additional 173 shares in the last quarter. Federated Hermes Inc. purchased a new stake in shares of Canadian Natural Resources in the fourth quarter worth $61,000. Finally, Massmutual Trust Co. FSB ADV increased its stake in shares of Canadian Natural Resources by 21.2% in the fourth quarter. Massmutual Trust Co. FSB ADV now owns 1,070 shares of the oil and gas producer's stock worth $70,000 after purchasing an additional 187 shares in the last quarter. 74.03% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on CNQ. JPMorgan Chase & Co. increased their price objective on shares of Canadian Natural Resources from $101.00 to $102.00 and gave the stock a "neutral" rating in a research note on Thursday, January 11th. Desjardins cut shares of Canadian Natural Resources from a "buy" rating to a "hold" rating in a research note on Tuesday. Six equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $94.00.

Canadian Natural Resources Price Performance

CNQ stock traded up $0.63 during trading on Friday, hitting $77.97. 1,599,385 shares of the company's stock traded hands, compared to its average volume of 4,195,675. Canadian Natural Resources Limited has a 52 week low of $52.66 and a 52 week high of $82.58. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.69 and a current ratio of 0.96. The business has a fifty day simple moving average of $74.12 and a 200 day simple moving average of $67.79. The stock has a market capitalization of $83.59 billion, a price-to-earnings ratio of 14.07 and a beta of 1.54.

Canadian Natural Resources (NYSE:CNQ - Get Free Report) TSE: CNQ last released its quarterly earnings data on Thursday, February 29th. The oil and gas producer reported $1.72 EPS for the quarter, beating the consensus estimate of $1.59 by $0.13. Canadian Natural Resources had a net margin of 20.15% and a return on equity of 21.74%. The business had revenue of $7.02 billion during the quarter, compared to analyst estimates of $6.73 billion. As a group, research analysts expect that Canadian Natural Resources Limited will post 5.71 EPS for the current fiscal year.

Canadian Natural Resources Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, April 5th. Stockholders of record on Friday, March 15th were issued a $0.774 dividend. This represents a $3.10 annualized dividend and a dividend yield of 3.97%. The ex-dividend date was Thursday, March 14th. This is a positive change from Canadian Natural Resources's previous quarterly dividend of $0.72. Canadian Natural Resources's dividend payout ratio (DPR) is 53.25%.

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).