Amundi Boosts Position in Canadian Natural Resources Limited (NYSE:CNQ)

Amundi grew its holdings in Canadian Natural Resources Limited (NYSE:CNQ - Free Report) TSE: CNQ by 1.7% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 7,087,352 shares of the oil and gas producer's stock after acquiring an additional 116,731 shares during the quarter. Amundi owned about 0.34% of Canadian Natural Resources worth $231,260,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the business. Fisher Asset Management LLC increased its holdings in shares of Canadian Natural Resources by 1.3% in the 4th quarter. Fisher Asset Management LLC now owns 44,131,266 shares of the oil and gas producer's stock valued at $1,362,332,000 after acquiring an additional 550,242 shares during the last quarter. The Manufacturers Life Insurance Company increased its holdings in shares of Canadian Natural Resources by 5.1% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 28,468,127 shares of the oil and gas producer's stock valued at $945,965,000 after acquiring an additional 1,383,478 shares during the last quarter. CIBC Asset Management Inc grew its stake in Canadian Natural Resources by 5.6% during the 4th quarter. CIBC Asset Management Inc now owns 24,109,432 shares of the oil and gas producer's stock worth $746,025,000 after buying an additional 1,270,945 shares during the last quarter. Geode Capital Management LLC grew its stake in Canadian Natural Resources by 8.1% during the 3rd quarter. Geode Capital Management LLC now owns 9,768,297 shares of the oil and gas producer's stock worth $328,807,000 after buying an additional 727,798 shares during the last quarter. Finally, National Bank of Canada FI grew its stake in Canadian Natural Resources by 63.5% during the 3rd quarter. National Bank of Canada FI now owns 8,233,388 shares of the oil and gas producer's stock worth $273,417,000 after buying an additional 3,198,007 shares during the last quarter. Hedge funds and other institutional investors own 74.03% of the company's stock.

Remove Ads

Canadian Natural Resources Price Performance

Shares of Canadian Natural Resources stock traded down $0.55 during trading on Thursday, reaching $28.70. The company's stock had a trading volume of 5,534,386 shares, compared to its average volume of 5,045,436. 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 12-month low of $25.62 and a 12-month high of $41.29. The company has a market capitalization of $60.28 billion, a P/E ratio of 11.14 and a beta of 1.48. The business has a 50 day moving average price of $30.34 and a 200-day moving average price of $32.54.

Canadian Natural Resources Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, April 4th. Investors of record on Friday, March 21st will be paid a $0.4117 dividend. The ex-dividend date is Friday, March 21st. This is an increase from Canadian Natural Resources's previous quarterly dividend of $0.39. This represents a $1.65 dividend on an annualized basis and a dividend yield of 5.74%. Canadian Natural Resources's payout ratio is 77.88%.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on CNQ shares. Royal Bank of Canada raised their price target on Canadian Natural Resources from $62.00 to $63.00 and gave the stock an "outperform" rating in a research note on Friday, March 7th. Evercore ISI upgraded Canadian Natural Resources from an "in-line" rating to an "outperform" rating in a research note on Friday, March 7th. Raymond James reiterated a "market perform" rating on shares of Canadian Natural Resources in a research note on Friday, March 7th. Finally, Tudor Pickering downgraded Canadian Natural Resources from a "strong-buy" rating to a "hold" rating in a research note on Monday, February 10th. Five equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, Canadian Natural Resources has a consensus rating of "Hold" and an average target price of $63.00.

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).