Canadian Natural Resources Limited (NYSE:CNQ) Shares Sold by Bank of Nova Scotia

Bank of Nova Scotia trimmed its position in Canadian Natural Resources Limited (NYSE:CNQ - Free Report) TSE: CNQ by 43.5% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 13,003,440 shares of the oil and gas producer's stock after selling 10,003,416 shares during the period. Canadian Natural Resources comprises about 0.7% of Bank of Nova Scotia's investment portfolio, making the stock its 23rd largest position. Bank of Nova Scotia owned about 0.62% of Canadian Natural Resources worth $401,400,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the company. FMR LLC boosted its position in Canadian Natural Resources by 8.7% during the fourth quarter. FMR LLC now owns 92,550,104 shares of the oil and gas producer's stock worth $2,857,337,000 after acquiring an additional 7,372,718 shares during the last quarter. Vanguard Group Inc. grew its position in shares of Canadian Natural Resources by 0.5% in the fourth quarter. Vanguard Group Inc. now owns 90,002,235 shares of the oil and gas producer's stock valued at $2,778,729,000 after purchasing an additional 456,814 shares during the period. Fisher Asset Management LLC boosted its stake in 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 worth $1,362,332,000 after buying an additional 550,242 shares during the last quarter. CIBC Asset Management Inc increased its stake in shares of 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 valued at $746,025,000 after acquiring an additional 1,270,945 shares during the last quarter. Finally, JPMorgan Chase & Co. lifted its holdings in shares of Canadian Natural Resources by 4.5% during the 4th quarter. JPMorgan Chase & Co. now owns 13,893,962 shares of the oil and gas producer's stock worth $428,907,000 after acquiring an additional 603,314 shares during the period. 74.03% of the stock is owned by institutional investors and hedge funds.

Canadian Natural Resources Stock Up 3.9 %

Canadian Natural Resources stock traded up $1.01 during trading on Friday, reaching $27.18. 7,524,305 shares of the company's stock were exchanged, compared to its average volume of 5,476,829. Canadian Natural Resources Limited has a 52-week low of $24.65 and a 52-week high of $39.79. The firm has a market cap of $57.02 billion, a price-to-earnings ratio of 10.56 and a beta of 1.10. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.53 and a current ratio of 0.84. The company's 50-day moving average is $29.29 and its two-hundred day moving average is $31.72.

Canadian Natural Resources Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, April 4th. Investors of record on Friday, March 21st were given a dividend of $0.4117 per share. The ex-dividend date was Friday, March 21st. This is a positive change from Canadian Natural Resources's previous quarterly dividend of $0.39. This represents a $1.65 annualized dividend and a yield of 6.06%. Canadian Natural Resources's payout ratio is 77.88%.

Analyst Upgrades and Downgrades

Several brokerages recently commented on CNQ. Tudor Pickering lowered shares of Canadian Natural Resources from a "strong-buy" rating to a "hold" rating in a research report on Monday, February 10th. Royal Bank of Canada reaffirmed an "outperform" rating and issued a $63.00 target price on shares of Canadian Natural Resources in a research report on Thursday, March 27th. Evercore ISI raised Canadian Natural Resources from an "in-line" rating to an "outperform" rating in a research report on Friday, March 7th. Raymond James upgraded Canadian Natural Resources from a "market perform" rating to an "outperform" rating in a report on Wednesday. Finally, Scotiabank raised Canadian Natural Resources from a "sector perform" rating to a "sector outperform" rating in a research note on Wednesday, March 19th. Three analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus 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).