Brandywine Global Investment Management LLC Increases Stock Position in Canadian Natural Resources Limited (NYSE:CNQ)

Brandywine Global Investment Management LLC raised its holdings in Canadian Natural Resources Limited (NYSE:CNQ - Free Report) TSE: CNQ by 2.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,713,207 shares of the oil and gas producer's stock after purchasing an additional 39,796 shares during the period. Brandywine Global Investment Management LLC owned about 0.08% of Canadian Natural Resources worth $52,826,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in CNQ. CIBC Private Wealth Group LLC increased its holdings in Canadian Natural Resources by 41.4% in the 4th quarter. CIBC Private Wealth Group LLC now owns 61,038 shares of the oil and gas producer's stock worth $1,992,000 after acquiring an additional 17,883 shares in the last quarter. SCP Investment LP increased its stake in shares of Canadian Natural Resources by 59.5% during the fourth quarter. SCP Investment LP now owns 26,800 shares of the oil and gas producer's stock worth $827,000 after purchasing an additional 10,000 shares in the last quarter. Hartree Partners LP raised its position in shares of Canadian Natural Resources by 1,378.0% during the 4th quarter. Hartree Partners LP now owns 100,000 shares of the oil and gas producer's stock worth $3,086,000 after purchasing an additional 93,234 shares during the last quarter. Orion Portfolio Solutions LLC lifted its stake in Canadian Natural Resources by 0.6% in the 4th quarter. Orion Portfolio Solutions LLC now owns 81,954 shares of the oil and gas producer's stock valued at $2,530,000 after buying an additional 497 shares in the last quarter. Finally, Pictet Asset Management Holding SA boosted its holdings in Canadian Natural Resources by 0.9% in the 4th quarter. Pictet Asset Management Holding SA now owns 688,803 shares of the oil and gas producer's stock worth $21,255,000 after buying an additional 5,976 shares during the last quarter. 74.03% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on CNQ. Evercore ISI raised Canadian Natural Resources from an "in-line" rating to an "outperform" rating in a research note on Friday, March 7th. Raymond James reissued a "market perform" rating on shares of Canadian Natural Resources in a research note on Friday, March 7th. Scotiabank raised shares of Canadian Natural Resources from a "sector perform" rating to a "sector outperform" rating in a research note on Wednesday, March 19th. Tudor Pickering lowered shares of Canadian Natural Resources from a "strong-buy" rating to a "hold" rating in a research note on Monday, February 10th. Finally, Royal Bank of Canada restated an "outperform" rating and issued a $63.00 price target on shares of Canadian Natural Resources in a research report on Thursday, March 27th. Four equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $63.00.

Canadian Natural Resources Trading Down 3.6 %

CNQ stock traded down $1.14 during trading on Thursday, reaching $30.30. 5,491,924 shares of the stock were exchanged, compared to its average volume of 5,486,304. The business has a 50 day moving average price of $29.96 and a 200-day moving average price of $32.11. Canadian Natural Resources Limited has a 1 year low of $25.62 and a 1 year high of $41.29. The company has a current ratio of 0.84, a quick ratio of 0.53 and a debt-to-equity ratio of 0.21. The firm has a market capitalization of $63.65 billion, a price-to-earnings ratio of 11.77 and a beta of 1.48.

Canadian Natural Resources Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, April 4th. Shareholders of record on Friday, March 21st will be paid a $0.4117 dividend. The ex-dividend date of this dividend is Friday, March 21st. This is a boost from Canadian Natural Resources's previous quarterly dividend of $0.39. This represents a $1.65 dividend on an annualized basis and a yield of 5.44%. Canadian Natural Resources's dividend payout ratio (DPR) is currently 77.88%.

Canadian Natural Resources Company 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).