Intact Investment Management Inc. Reduces Stock Position in Canadian Natural Resources Limited (NYSE:CNQ)

Intact Investment Management Inc. lessened its holdings in Canadian Natural Resources Limited (NYSE:CNQ) (TSE:CNQ) by 34.5% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 360,580 shares of the oil and gas producer’s stock after selling 189,910 shares during the quarter. Canadian Natural Resources makes up about 1.0% of Intact Investment Management Inc.’s holdings, making the stock its 28th largest position. Intact Investment Management Inc.’s holdings in Canadian Natural Resources were worth $23,624,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Central Bank & Trust Co. purchased a new position in shares of Canadian Natural Resources during the fourth quarter worth about $26,000. GAMMA Investing LLC acquired a new stake in shares of Canadian Natural Resources during the fourth quarter worth about $27,000. Janiczek Wealth Management LLC boosted its stake in shares of Canadian Natural Resources by 39.7% during the fourth quarter. Janiczek Wealth Management LLC now owns 609 shares of the oil and gas producer’s stock worth $40,000 after buying an additional 173 shares during the period. Federated Hermes Inc. acquired a new stake in shares of Canadian Natural Resources during the fourth quarter worth about $61,000. Finally, Massmutual Trust Co. FSB ADV boosted its stake in shares of Canadian Natural Resources by 21.2% during 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 buying an additional 187 shares during the period. Hedge funds and other institutional investors own 74.03% of the company’s stock.

Canadian Natural Resources Stock Performance

NYSE:CNQ traded up $0.63 during mid-day trading on Friday, reaching $77.97. The stock had a trading volume of 1,599,385 shares, compared to its average volume of 4,195,675. 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 firm 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 Limited has a twelve month low of $52.66 and a twelve month high of $82.58. The business has a 50 day simple moving average of $74.12 and a 200 day simple moving average of $67.77.

Canadian Natural Resources (NYSE:CNQ) (TSE:CNQ) last announced its quarterly earnings data on Thursday, February 29th. The oil and gas producer reported $1.72 EPS for the quarter, beating analysts’ consensus estimates of $1.59 by $0.13. The firm had revenue of $7.02 billion during the quarter, compared to the consensus estimate of $6.73 billion. Canadian Natural Resources had a net margin of 20.15% and a return on equity of 21.74%. On average, analysts expect that Canadian Natural Resources Limited will post 5.71 earnings per share for the current fiscal year.

Canadian Natural Resources Increases Dividend

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

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the stock. Desjardins downgraded shares of Canadian Natural Resources from a “buy” rating to a “hold” rating in a research note on Tuesday. JPMorgan Chase & Co. increased their target price 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. Six research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $94.00.

Canadian Natural Resources 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).