M&T Bank Corp Raises Stake in Canadian Natural Resources Limited (NYSE:CNQ)

M&T Bank Corp grew its holdings in shares of Canadian Natural Resources Limited (NYSE:CNQ) (TSE:CNQ) by 1.2% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 129,379 shares of the oil and gas producer’s stock after acquiring an additional 1,540 shares during the quarter. M&T Bank Corp’s holdings in Canadian Natural Resources were worth $4,250,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in CNQ. Wealth Enhancement Advisory Services LLC grew its holdings in shares of Canadian Natural Resources by 294.3% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 18,418 shares of the oil and gas producer’s stock valued at $656,000 after purchasing an additional 13,747 shares during the last quarter. Envestnet Portfolio Solutions Inc. grew its stake in shares of Canadian Natural Resources by 56.0% during the second quarter. Envestnet Portfolio Solutions Inc. now owns 33,967 shares of the oil and gas producer’s stock valued at $1,209,000 after buying an additional 12,193 shares during the last quarter. Assenagon Asset Management S.A. increased its holdings in shares of Canadian Natural Resources by 107.3% in the second quarter. Assenagon Asset Management S.A. now owns 53,858 shares of the oil and gas producer’s stock worth $1,918,000 after buying an additional 27,879 shares during the period. Naples Global Advisors LLC lifted its stake in shares of Canadian Natural Resources by 6.4% in the 2nd quarter. Naples Global Advisors LLC now owns 6,820 shares of the oil and gas producer’s stock valued at $245,000 after acquiring an additional 410 shares during the last quarter. Finally, Blue Trust Inc. boosted its holdings in Canadian Natural Resources by 972.1% during the 2nd quarter. Blue Trust Inc. now owns 2,916 shares of the oil and gas producer’s stock valued at $104,000 after acquiring an additional 2,644 shares during the period. 74.03% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the company. StockNews.com cut Canadian Natural Resources from a “buy” rating to a “hold” rating in a research note on Friday, August 23rd. Desjardins raised shares of Canadian Natural Resources from a “hold” rating to a “moderate buy” rating in a research note on Tuesday, October 8th. Five equities research analysts have rated the stock with a hold rating, According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $51.00.

Canadian Natural Resources Stock Down 2.7 %

Shares of NYSE:CNQ opened at $31.65 on Friday. The stock’s 50-day moving average is $34.50 and its 200 day moving average is $34.89. The company has a market cap of $66.78 billion, a PE ratio of 12.31 and a beta of 1.47. 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 Limited has a 1 year low of $29.45 and a 1 year high of $41.29.

Canadian Natural Resources (NYSE:CNQ) (TSE:CNQ) last announced its earnings results on Thursday, October 31st. The oil and gas producer reported $0.97 EPS for the quarter, beating analysts’ consensus estimates of $0.67 by $0.30. The company had revenue of $7.62 billion during the quarter, compared to the consensus estimate of $6.40 billion. Canadian Natural Resources had a return on equity of 20.07% and a net margin of 18.45%. During the same quarter in the prior year, the company earned $0.96 earnings per share. Sell-side analysts anticipate that Canadian Natural Resources Limited will post 2.47 EPS for the current year.

Canadian Natural Resources Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 3rd. Shareholders of record on Friday, December 13th will be issued a $0.388 dividend. The ex-dividend date is Friday, December 13th. This is a positive change from Canadian Natural Resources’s previous quarterly dividend of $0.38. This represents a $1.55 annualized dividend and a yield of 4.90%. Canadian Natural Resources’s dividend payout ratio (DPR) is 64.59%.

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).