Manitou Investment Management Ltd. Raises Stock Holdings in Canadian Natural Resources Ltd (NYSE:CNQ)

Manitou Investment Management Ltd. lifted its holdings in shares of Canadian Natural Resources Ltd (NYSE:CNQ) (TSE:CNQ) by 2.3% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 711,489 shares of the oil and gas producer’s stock after purchasing an additional 15,673 shares during the quarter. Canadian Natural Resources accounts for approximately 4.6% of Manitou Investment Management Ltd.’s portfolio, making the stock its 11th largest position. Manitou Investment Management Ltd. owned about 0.06% of Canadian Natural Resources worth $18,938,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Amundi Pioneer Asset Management Inc. boosted its stake in Canadian Natural Resources by 29.1% in the first quarter. Amundi Pioneer Asset Management Inc. now owns 674,844 shares of the oil and gas producer’s stock worth $18,558,000 after buying an additional 152,046 shares in the last quarter. KAMES CAPITAL plc boosted its stake in shares of Canadian Natural Resources by 36.7% during the second quarter. KAMES CAPITAL plc now owns 45,587 shares of the oil and gas producer’s stock valued at $1,230,000 after purchasing an additional 12,250 shares during the period. Hexavest Inc. boosted its stake in shares of Canadian Natural Resources by 774.9% during the second quarter. Hexavest Inc. now owns 2,225,857 shares of the oil and gas producer’s stock valued at $60,145,000 after purchasing an additional 1,971,455 shares during the period. Cardinal Capital Management Inc. boosted its stake in shares of Canadian Natural Resources by 0.3% during the second quarter. Cardinal Capital Management Inc. now owns 1,505,928 shares of the oil and gas producer’s stock valued at $40,604,000 after purchasing an additional 5,230 shares during the period. Finally, Dividend Assets Capital LLC boosted its stake in shares of Canadian Natural Resources by 7.0% during the second quarter. Dividend Assets Capital LLC now owns 50,353 shares of the oil and gas producer’s stock valued at $1,358,000 after purchasing an additional 3,275 shares during the period. 65.39% of the stock is owned by institutional investors.

CNQ traded down $0.14 during trading on Friday, reaching $27.94. The stock had a trading volume of 1,697,260 shares, compared to its average volume of 2,733,854. The stock’s 50 day moving average is $26.00 and its two-hundred day moving average is $26.19. The company has a current ratio of 0.59, a quick ratio of 0.44 and a debt-to-equity ratio of 0.57. The company has a market capitalization of $31.35 billion, a price-to-earnings ratio of 13.00, a P/E/G ratio of 1.74 and a beta of 1.16. Canadian Natural Resources Ltd has a one year low of $21.85 and a one year high of $31.77.

Canadian Natural Resources (NYSE:CNQ) (TSE:CNQ) last posted its quarterly earnings data on Thursday, November 7th. The oil and gas producer reported $1.04 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.60 by $0.44. The business had revenue of $4.67 billion during the quarter, compared to the consensus estimate of $4.46 billion. Canadian Natural Resources had a return on equity of 8.62% and a net margin of 22.22%. During the same quarter in the prior year, the company earned $1.11 earnings per share. On average, equities research analysts predict that Canadian Natural Resources Ltd will post 2.35 earnings per share for the current year.

A number of analysts have recently weighed in on CNQ shares. Zacks Investment Research lowered Canadian Natural Resources from a “buy” rating to a “hold” rating and set a $28.00 price objective for the company. in a research note on Monday, July 22nd. TD Securities upped their target price on Canadian Natural Resources from $41.00 to $44.00 and gave the company a “buy” rating in a report on Friday. National Bank Financial upped their target price on Canadian Natural Resources from $43.00 to $44.00 and gave the company a “sector perform” rating in a report on Friday. CIBC set a $46.00 target price on Canadian Natural Resources and gave the company a “buy” rating in a report on Tuesday, October 15th. Finally, ValuEngine upgraded Canadian Natural Resources from a “hold” rating to a “buy” rating in a report on Monday, September 16th. One analyst has rated the stock with a sell rating, six have issued a hold rating and fifteen have given a buy rating to the company. The company has a consensus rating of “Buy” and a consensus target price of $40.92.

Canadian Natural Resources Profile

Canadian Natural Resources Limited explores for, develops, produces, and markets crude oil, natural gas, and natural gas liquids (NGLs). The company offers synthetic crude oil (SCO), light and medium crude oil, bitumen (thermal oil), primary heavy crude oil, and Pelican Lake heavy crude oil. Its midstream assets include two crude oil pipeline systems; and a 50% working interest in an 84-megawatt cogeneration plant at Primrose.

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Institutional Ownership by Quarter for Canadian Natural Resources (NYSE:CNQ)

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