PNC Financial Services Group Inc. Buys 1,306 Shares of Canadian Natural Resources Limited (NYSE:CNQ)

PNC Financial Services Group Inc. boosted its position in shares of Canadian Natural Resources Limited (NYSE:CNQ) (TSE:CNQ) by 1.6% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 82,310 shares of the oil and gas producer’s stock after acquiring an additional 1,306 shares during the period. PNC Financial Services Group Inc.’s holdings in Canadian Natural Resources were worth $2,734,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the company. TD Asset Management Inc increased its position in shares of Canadian Natural Resources by 96.2% during the second quarter. TD Asset Management Inc now owns 42,518,833 shares of the oil and gas producer’s stock valued at $1,514,190,000 after purchasing an additional 20,843,193 shares during the period. Canada Pension Plan Investment Board boosted its stake in Canadian Natural Resources by 93.0% during the second quarter. Canada Pension Plan Investment Board now owns 41,464,502 shares of the oil and gas producer’s stock worth $1,476,644,000 after buying an additional 19,980,902 shares in the last quarter. 1832 Asset Management L.P. increased its holdings in Canadian Natural Resources by 105.3% in the 2nd quarter. 1832 Asset Management L.P. now owns 31,668,045 shares of the oil and gas producer’s stock valued at $1,127,382,000 after buying an additional 16,245,046 shares during the period. Yacktman Asset Management LP raised its stake in shares of Canadian Natural Resources by 95.9% in the 2nd quarter. Yacktman Asset Management LP now owns 29,456,746 shares of the oil and gas producer’s stock valued at $1,048,660,000 after buying an additional 14,418,835 shares in the last quarter. Finally, Mackenzie Financial Corp lifted its holdings in shares of Canadian Natural Resources by 90.3% during the 2nd quarter. Mackenzie Financial Corp now owns 30,017,414 shares of the oil and gas producer’s stock worth $1,069,338,000 after acquiring an additional 14,246,978 shares during the period. Institutional investors and hedge funds own 74.03% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on CNQ shares. StockNews.com lowered shares of Canadian Natural Resources from a “buy” rating to a “hold” rating in a research report on Friday, August 23rd. Desjardins raised Canadian Natural Resources from a “hold” rating to a “moderate buy” rating in a report on Tuesday, October 8th. Five analysts have rated the stock with a hold rating, Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $51.00.

Canadian Natural Resources Trading Down 2.3 %

Shares of Canadian Natural Resources stock opened at $34.05 on Tuesday. Canadian Natural Resources Limited has a 12-month low of $29.45 and a 12-month high of $41.29. The stock has a market capitalization of $71.85 billion, a P/E ratio of 13.22 and a beta of 1.50. The company has a 50-day simple moving average of $34.62 and a 200 day simple moving average of $35.30. The company has a quick ratio of 0.53, a current ratio of 0.84 and a debt-to-equity ratio of 0.21.

Canadian Natural Resources (NYSE:CNQ) (TSE:CNQ) last posted its earnings results on Thursday, October 31st. The oil and gas producer reported $0.97 earnings per share (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 analysts’ expectations of $6.40 billion. Canadian Natural Resources had a net margin of 18.45% and a return on equity of 20.07%. During the same quarter in the previous year, the company posted $0.96 earnings per share. Research analysts expect that Canadian Natural Resources Limited will post 2.47 earnings per share for the current fiscal year.

Canadian Natural Resources Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 3rd. Shareholders of record on Friday, December 13th will be paid a $0.388 dividend. The ex-dividend date of this dividend is Friday, December 13th. This represents a $1.55 dividend on an annualized basis and a yield of 4.56%. This is a positive change from Canadian Natural Resources’s previous quarterly dividend of $0.38. Canadian Natural Resources’s payout ratio is currently 60.58%.

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).