Ashton Thomas Private Wealth LLC Invests $1.43 Million in Canadian Natural Resources Limited (NYSE:CNQ)

Ashton Thomas Private Wealth LLC acquired a new position in shares of Canadian Natural Resources Limited (NYSE:CNQ - Free Report) TSE: CNQ during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 45,708 shares of the oil and gas producer's stock, valued at approximately $1,428,000.

Several other large investors also recently made changes to their positions in the stock. Holocene Advisors LP acquired a new stake in Canadian Natural Resources in the third quarter valued at $13,700,000. Principal Securities Inc. grew its holdings in Canadian Natural Resources by 595.2% during the fourth quarter. Principal Securities Inc. now owns 6,987 shares of the oil and gas producer's stock worth $216,000 after purchasing an additional 5,982 shares during the period. SG Americas Securities LLC increased its position in Canadian Natural Resources by 6.3% during the fourth quarter. SG Americas Securities LLC now owns 296,424 shares of the oil and gas producer's stock worth $9,151,000 after buying an additional 17,694 shares during the last quarter. CIBC Asset Management Inc lifted its position in shares of Canadian Natural Resources by 5.6% in the fourth quarter. CIBC Asset Management Inc now owns 24,109,432 shares of the oil and gas producer's stock valued at $746,025,000 after buying an additional 1,270,945 shares during the last quarter. Finally, Bank of New York Mellon Corp boosted its stake in shares of Canadian Natural Resources by 87.0% during the 4th quarter. Bank of New York Mellon Corp now owns 4,437,771 shares of the oil and gas producer's stock worth $136,994,000 after acquiring an additional 2,064,492 shares during the period. Institutional investors and hedge funds own 74.03% of the company's stock.

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Canadian Natural Resources Price Performance

NYSE:CNQ traded up $0.51 during trading hours on Wednesday, reaching $29.24. 7,416,174 shares of the company were exchanged, compared to its average volume of 5,034,849. The company has a market capitalization of $61.41 billion, a P/E ratio of 11.35 and a beta of 1.48. Canadian Natural Resources Limited has a 1-year low of $25.62 and a 1-year high of $41.29. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.84 and a quick ratio of 0.53. The business has a 50 day moving average of $30.38 and a 200 day moving average of $32.56.

Canadian Natural Resources Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 4th. Shareholders of record on Friday, March 21st will be paid a dividend of $0.4117 per share. This represents a $1.65 dividend on an annualized basis and a yield of 5.63%. This is an increase from Canadian Natural Resources's previous quarterly dividend of $0.39. The ex-dividend date of this dividend is Friday, March 21st. Canadian Natural Resources's dividend payout ratio is presently 77.88%.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the company. Evercore ISI raised Canadian Natural Resources from an "in-line" rating to an "outperform" rating in a report on Friday, March 7th. Raymond James restated a "market perform" rating on shares of Canadian Natural Resources in a research note on Friday. Tudor Pickering cut shares of Canadian Natural Resources from a "strong-buy" rating to a "hold" rating in a report on Monday, February 10th. Finally, Royal Bank of Canada boosted their price objective on Canadian Natural Resources from $62.00 to $63.00 and gave the stock an "outperform" rating in a report on Friday, March 7th. Five analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target 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).