Canadian Natural Resources Limited $CNQ Shares Acquired by PNC Financial Services Group Inc.

PNC Financial Services Group Inc. increased its holdings in shares of Canadian Natural Resources Limited (NYSE:CNQ) (TSE:CNQ) by 9.9% in the second quarter, Holdings Channel reports. The firm owned 89,973 shares of the oil and gas producer’s stock after acquiring an additional 8,078 shares during the period. PNC Financial Services Group Inc.’s holdings in Canadian Natural Resources were worth $2,825,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Goldman Sachs Group Inc. lifted its stake in shares of Canadian Natural Resources by 240.8% during the first quarter. Goldman Sachs Group Inc. now owns 22,776,594 shares of the oil and gas producer’s stock worth $701,519,000 after purchasing an additional 16,094,168 shares in the last quarter. Bank of Nova Scotia raised its holdings in shares of Canadian Natural Resources by 86.6% during the 1st quarter. Bank of Nova Scotia now owns 24,262,707 shares of the oil and gas producer’s stock valued at $746,675,000 after buying an additional 11,259,267 shares during the period. T. Rowe Price Investment Management Inc. raised its holdings in shares of Canadian Natural Resources by 29.1% during the 1st quarter. T. Rowe Price Investment Management Inc. now owns 43,968,120 shares of the oil and gas producer’s stock valued at $1,354,219,000 after buying an additional 9,915,345 shares during the period. Canada Pension Plan Investment Board lifted its position in Canadian Natural Resources by 13.0% during the 1st quarter. Canada Pension Plan Investment Board now owns 41,769,153 shares of the oil and gas producer’s stock worth $1,285,464,000 after acquiring an additional 4,805,451 shares in the last quarter. Finally, Nuveen LLC purchased a new position in Canadian Natural Resources in the 1st quarter worth approximately $68,342,000. 74.03% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms have recently commented on CNQ. Scotiabank reissued an “outperform” rating on shares of Canadian Natural Resources in a research report on Thursday, October 9th. Wells Fargo & Company upgraded shares of Canadian Natural Resources to a “hold” rating in a report on Thursday, October 16th. TD Securities restated a “buy” rating on shares of Canadian Natural Resources in a research note on Tuesday, September 30th. Raymond James Financial reaffirmed an “outperform” rating on shares of Canadian Natural Resources in a research report on Friday, August 8th. Finally, Royal Bank Of Canada reissued an “outperform” rating and issued a $62.00 price target on shares of Canadian Natural Resources in a report on Wednesday, September 24th. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $62.00.

Canadian Natural Resources Stock Performance

Shares of Canadian Natural Resources stock opened at $34.03 on Wednesday. The firm has a market cap of $70.90 billion, a PE ratio of 12.07 and a beta of 0.96. The firm’s 50-day simple moving average is $31.86 and its 200-day simple moving average is $31.46. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.54 and a current ratio of 0.85. Canadian Natural Resources Limited has a 1 year low of $24.65 and a 1 year high of $34.97.

Canadian Natural Resources (NYSE:CNQ) (TSE:CNQ) last posted its quarterly earnings results on Thursday, November 6th. The oil and gas producer reported $0.62 EPS for the quarter, topping analysts’ consensus estimates of $0.54 by $0.08. The business had revenue of $6.79 billion during the quarter, compared to the consensus estimate of $6.81 billion. Canadian Natural Resources had a return on equity of 19.67% and a net margin of 19.00%.During the same period last year, the firm earned $0.97 earnings per share. Equities analysts forecast that Canadian Natural Resources Limited will post 2.45 earnings per share for the current fiscal year.

Canadian Natural Resources Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, January 6th. Stockholders of record on Friday, December 12th will be issued a $0.5875 dividend. This is a positive change from Canadian Natural Resources’s previous quarterly dividend of $0.43. The ex-dividend date is Friday, December 12th. This represents a $2.35 dividend on an annualized basis and a dividend yield of 6.9%. Canadian Natural Resources’s dividend payout ratio (DPR) is presently 73.89%.

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).