M&T Bank Corp Has $4.25 Million Stake in Canadian Natural Resources Limited (NYSE:CNQ)

M&T Bank Corp boosted its stake in shares of Canadian Natural Resources Limited (NYSE:CNQ) (TSE:CNQ) by 1.2% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 129,379 shares of the oil and gas producer’s stock after buying an additional 1,540 shares during the quarter. M&T Bank Corp’s holdings in Canadian Natural Resources were worth $4,250,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the stock. Fisher Asset Management LLC lifted its stake in shares of Canadian Natural Resources by 3.9% in the third quarter. Fisher Asset Management LLC now owns 43,581,024 shares of the oil and gas producer’s stock worth $1,447,326,000 after acquiring an additional 1,651,452 shares during the period. TD Asset Management Inc raised its holdings in Canadian Natural Resources by 96.2% during the 2nd quarter. TD Asset Management Inc now owns 42,518,833 shares of the oil and gas producer’s stock worth $1,514,190,000 after purchasing an additional 20,843,193 shares during the last quarter. Canada Pension Plan Investment Board lifted its position in shares of Canadian Natural Resources by 93.0% in the 2nd 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 purchasing an additional 19,980,902 shares during the period. 1832 Asset Management L.P. boosted its stake in shares of 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 purchasing an additional 16,245,046 shares during the last quarter. Finally, Mackenzie Financial Corp increased its position in shares of Canadian Natural Resources by 90.3% during the second quarter. Mackenzie Financial Corp now owns 30,017,414 shares of the oil and gas producer’s stock worth $1,069,338,000 after buying an additional 14,246,978 shares during the period. Institutional investors own 74.03% of the company’s stock.

Canadian Natural Resources Price Performance

Canadian Natural Resources stock opened at $31.65 on Friday. The company’s 50 day moving average price is $34.50 and its two-hundred day moving average price is $34.89. 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 Limited has a 52 week low of $29.45 and a 52 week high of $41.29. The stock has a market cap of $66.78 billion, a P/E ratio of 12.31 and a beta of 1.47.

Canadian Natural Resources (NYSE:CNQ) (TSE:CNQ) last posted its quarterly earnings results on Thursday, October 31st. The oil and gas producer reported $0.97 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.67 by $0.30. The company had revenue of $7.62 billion for the quarter, compared to analyst estimates 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 firm posted $0.96 earnings per share. On average, equities analysts predict that Canadian Natural Resources Limited will post 2.47 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 issued a $0.388 dividend. This represents a $1.55 dividend on an annualized basis and a dividend yield of 4.90%. This is an increase from Canadian Natural Resources’s previous quarterly dividend of $0.38. The ex-dividend date of this dividend is Friday, December 13th. Canadian Natural Resources’s dividend payout ratio is presently 64.59%.

Analyst Upgrades and Downgrades

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

Canadian Natural Resources 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).