Mainstay Capital Management LLC ADV Sells 2,141 Shares of Canadian Natural Resources Limited (NYSE:CNQ)

Mainstay Capital Management LLC ADV lowered its stake in Canadian Natural Resources Limited (NYSE:CNQ) (TSE:CNQ) by 5.2% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 38,663 shares of the oil and gas producer’s stock after selling 2,141 shares during the period. Mainstay Capital Management LLC ADV’s holdings in Canadian Natural Resources were worth $1,284,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Capital World Investors increased its holdings in Canadian Natural Resources by 0.5% in the 1st quarter. Capital World Investors now owns 144,344,207 shares of the oil and gas producer’s stock valued at $11,011,765,000 after buying an additional 684,532 shares during the period. Vanguard Group Inc. boosted its position in shares of Canadian Natural Resources by 1.7% during the 1st quarter. Vanguard Group Inc. now owns 43,813,537 shares of the oil and gas producer’s stock worth $3,343,849,000 after acquiring an additional 714,346 shares in the last quarter. TD Asset Management Inc increased its stake in Canadian Natural Resources by 96.2% in 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 acquiring an additional 20,843,193 shares during the last quarter. Canada Pension Plan Investment Board raised its position 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 valued at $1,476,644,000 after purchasing an additional 19,980,902 shares in the last quarter. Finally, 1832 Asset Management L.P. lifted its stake in Canadian Natural Resources by 105.3% during the second quarter. 1832 Asset Management L.P. now owns 31,668,045 shares of the oil and gas producer’s stock worth $1,127,382,000 after purchasing an additional 16,245,046 shares during the last quarter. Institutional investors and hedge funds own 74.03% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the company. StockNews.com cut Canadian Natural Resources from a “buy” rating to a “hold” rating in a report on Friday, August 23rd. Desjardins upgraded shares of Canadian Natural Resources from a “hold” rating to a “moderate buy” rating in a research note on Tuesday, October 8th. Finally, Wolfe Research began coverage on shares of Canadian Natural Resources in a research note on Thursday, July 18th. They issued a “peer perform” rating for the company. Five research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to MarketBeat.com, Canadian Natural Resources has a consensus rating of “Hold” and a consensus price target of $49.50.

Canadian Natural Resources Stock Performance

NYSE:CNQ opened at $35.11 on Friday. The stock’s 50-day moving average is $34.97 and its 200-day moving average is $36.06. The stock has a market cap of $74.70 billion, a P/E ratio of 13.99 and a beta of 1.50. Canadian Natural Resources Limited has a 1-year low of $29.45 and a 1-year high of $41.29. The company has a current ratio of 0.88, a quick ratio of 0.59 and a debt-to-equity ratio of 0.24.

Canadian Natural Resources (NYSE:CNQ) (TSE:CNQ) last released its quarterly earnings results on Thursday, August 1st. The oil and gas producer reported $0.88 EPS for the quarter, beating analysts’ consensus estimates of $0.62 by $0.26. The firm had revenue of $7.76 billion for the quarter, compared to analyst estimates of $6.19 billion. Canadian Natural Resources had a return on equity of 22.09% and a net margin of 18.05%. During the same quarter in the previous year, the company posted $0.43 EPS. Equities research analysts anticipate that Canadian Natural Resources Limited will post 2.5 earnings per share for the current year.

Canadian Natural Resources Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, January 3rd. Stockholders of record on Friday, December 13th will be given 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 dividend yield of 4.42%. This is an increase from Canadian Natural Resources’s previous quarterly dividend of $0.38. Canadian Natural Resources’s payout ratio is 66.14%.

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).