Manning & Napier Group LLC Buys Shares of 65,632 Canadian Natural Resources Limited (NYSE:CNQ)

Manning & Napier Group LLC bought a new stake in shares of Canadian Natural Resources Limited (NYSE:CNQGet Rating) (TSE:CNQ) during the 2nd quarter, Holdings Channel reports. The firm bought 65,632 shares of the oil and gas producer’s stock, valued at approximately $3,523,000.

Several other hedge funds have also recently added to or reduced their stakes in CNQ. Capital World Investors raised its stake in shares of Canadian Natural Resources by 25.4% in the 1st quarter. Capital World Investors now owns 124,407,484 shares of the oil and gas producer’s stock worth $7,703,436,000 after buying an additional 25,232,354 shares in the last quarter. Capital Research Global Investors raised its stake in shares of Canadian Natural Resources by 4.1% in the 4th quarter. Capital Research Global Investors now owns 121,275,042 shares of the oil and gas producer’s stock worth $5,124,376,000 after buying an additional 4,822,542 shares in the last quarter. Vanguard Group Inc. raised its stake in shares of Canadian Natural Resources by 6.2% in the 1st quarter. Vanguard Group Inc. now owns 40,235,475 shares of the oil and gas producer’s stock worth $2,493,796,000 after buying an additional 2,332,528 shares in the last quarter. Canada Pension Plan Investment Board raised its stake in shares of Canadian Natural Resources by 3.9% in the 1st quarter. Canada Pension Plan Investment Board now owns 24,179,559 shares of the oil and gas producer’s stock worth $1,498,531,000 after buying an additional 900,000 shares in the last quarter. Finally, 1832 Asset Management L.P. raised its stake in shares of Canadian Natural Resources by 1.1% in the 4th quarter. 1832 Asset Management L.P. now owns 16,841,334 shares of the oil and gas producer’s stock worth $711,111,000 after buying an additional 188,814 shares in the last quarter. Institutional investors own 72.42% of the company’s stock.

Canadian Natural Resources Stock Performance

Shares of NYSE CNQ opened at $51.69 on Thursday. The business’s 50-day moving average price is $53.61 and its two-hundred day moving average price is $58.23. The company has a debt-to-equity ratio of 0.29, a current ratio of 0.85 and a quick ratio of 0.65. Canadian Natural Resources Limited has a one year low of $33.07 and a one year high of $70.60. The company has a market capitalization of $58.08 billion, a P/E ratio of 6.78, a price-to-earnings-growth ratio of 0.51 and a beta of 1.48.

Canadian Natural Resources Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 5th. Shareholders of record on Friday, September 16th will be paid a $0.5822 dividend. The ex-dividend date of this dividend is Thursday, September 15th. This represents a $2.33 dividend on an annualized basis and a yield of 4.51%. Canadian Natural Resources’s dividend payout ratio (DPR) is currently 30.05%.

Analyst Ratings Changes

A number of analysts have recently commented on the company. Scotiabank downgraded Canadian Natural Resources from a “sector outperform” rating to a “sector perform” rating in a research note on Wednesday, June 8th. Bank of America raised Canadian Natural Resources from a “neutral” rating to a “buy” rating and set a $100.00 target price on the stock in a research report on Tuesday, July 19th. StockNews.com lowered Canadian Natural Resources from a “buy” rating to a “hold” rating in a research report on Tuesday, September 13th. Stifel Nicolaus boosted their target price on Canadian Natural Resources from C$111.00 to C$115.00 in a research report on Thursday, June 30th. Finally, National Bank Financial cut their target price on Canadian Natural Resources from C$115.00 to C$100.00 in a research report on Monday, July 18th. Seven research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $86.79.

Canadian Natural Resources Profile

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Canadian Natural Resources Limited acquires, explores for, develops, produces, markets, and sells 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.

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

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