Avantax Advisory Services Inc. Sells 14,961 Shares of Canadian Natural Resources Limited (NYSE:CNQ)

Avantax Advisory Services Inc. cut its stake in shares of Canadian Natural Resources Limited (NYSE:CNQ - Free Report) TSE: CNQ by 23.2% during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 49,513 shares of the oil and gas producer's stock after selling 14,961 shares during the period. Avantax Advisory Services Inc.'s holdings in Canadian Natural Resources were worth $1,528,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Duncker Streett & Co. Inc. purchased a new position in Canadian Natural Resources during the fourth quarter valued at approximately $25,000. Continuum Advisory LLC grew its position in Canadian Natural Resources by 144.1% during the third quarter. Continuum Advisory LLC now owns 830 shares of the oil and gas producer's stock valued at $28,000 after purchasing an additional 490 shares in the last quarter. R Squared Ltd purchased a new position in Canadian Natural Resources during the fourth quarter valued at approximately $32,000. Newbridge Financial Services Group Inc. purchased a new position in Canadian Natural Resources during the fourth quarter valued at approximately $35,000. Finally, Wilmington Savings Fund Society FSB purchased a new position in Canadian Natural Resources during the third quarter valued at approximately $37,000. 74.03% of the stock is owned by hedge funds and other institutional investors.

Canadian Natural Resources Stock Performance

Shares of Canadian Natural Resources stock traded down $0.49 on Friday, reaching $30.33. The stock had a trading volume of 10,510,661 shares, compared to its average volume of 5,125,769. The business's 50-day moving average price is $30.02 and its two-hundred day moving average price is $32.24. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.53 and a current ratio of 0.84. Canadian Natural Resources Limited has a fifty-two week low of $25.62 and a fifty-two week high of $41.29. The stock has a market cap of $63.70 billion, a P/E ratio of 11.78 and a beta of 1.48.

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Canadian Natural Resources Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 4th. Stockholders of record on Friday, March 21st will be paid a $0.4117 dividend. This represents a $1.65 dividend on an annualized basis and a dividend yield of 5.43%. This is a boost 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 payout ratio is presently 77.88%.

Analyst Ratings Changes

A number of research firms have issued reports on CNQ. Scotiabank upgraded shares of Canadian Natural Resources from a "sector perform" rating to a "sector outperform" rating in a research note on Wednesday. Evercore ISI upgraded shares of Canadian Natural Resources from an "in-line" rating to an "outperform" rating in a research note on Friday, March 7th. Royal Bank of Canada lifted their target price on shares of Canadian Natural Resources from $62.00 to $63.00 and gave the company an "outperform" rating in a research note on Friday, March 7th. Tudor Pickering cut shares of Canadian Natural Resources from a "strong-buy" rating to a "hold" rating in a research note on Monday, February 10th. Finally, Raymond James reiterated a "market perform" rating on shares of Canadian Natural Resources in a research note on Friday, March 7th. Four equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Hold" and an average price target of $63.00.

About Canadian Natural Resources

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).