State of Tennessee Department of Treasury Grows Position in Canadian Natural Resources Limited (NYSE:CNQ)

State of Tennessee Department of Treasury boosted its holdings in Canadian Natural Resources Limited (NYSE:CNQ - Free Report) TSE: CNQ by 1.0% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,821,174 shares of the oil and gas producer's stock after buying an additional 18,056 shares during the period. State of Tennessee Department of Treasury owned approximately 0.09% of Canadian Natural Resources worth $56,198,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. TD Waterhouse Canada Inc. raised its stake in shares of Canadian Natural Resources by 5.1% during the 4th quarter. TD Waterhouse Canada Inc. now owns 6,122,380 shares of the oil and gas producer's stock valued at $188,421,000 after purchasing an additional 298,448 shares during the period. MML Investors Services LLC lifted its holdings in shares of Canadian Natural Resources by 1.0% in the fourth quarter. MML Investors Services LLC now owns 55,045 shares of the oil and gas producer's stock worth $1,699,000 after buying an additional 528 shares in the last quarter. Natixis bought a new position in shares of Canadian Natural Resources in the fourth quarter valued at approximately $307,000. Bank of Nova Scotia Trust Co. increased its holdings in Canadian Natural Resources by 0.9% during the 4th quarter. Bank of Nova Scotia Trust Co. now owns 762,627 shares of the oil and gas producer's stock worth $23,542,000 after acquiring an additional 7,088 shares during the period. Finally, Capital International Inc. CA lifted its stake in Canadian Natural Resources by 20.4% in the 4th quarter. Capital International Inc. CA now owns 805,555 shares of the oil and gas producer's stock worth $24,867,000 after purchasing an additional 136,270 shares in the last quarter. Hedge funds and other institutional investors own 74.03% of the company's stock.

Wall Street Analysts Forecast Growth

CNQ has been the topic of a number of recent analyst reports. Royal Bank of Canada reiterated an "outperform" rating and issued a $63.00 price objective on shares of Canadian Natural Resources in a research report on Thursday, March 27th. Raymond James raised Canadian Natural Resources from a "market perform" rating to an "outperform" rating in a report on Wednesday, April 9th. 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 report on Monday, February 10th. Finally, Evercore ISI upgraded shares of Canadian Natural Resources from an "in-line" rating to an "outperform" rating in a research report on Friday, March 7th. Three research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $63.00.

Canadian Natural Resources Price Performance

Shares of CNQ stock traded up $0.05 during trading hours on Friday, hitting $29.36. 3,750,877 shares of the company's stock were exchanged, compared to its average volume of 5,384,673. The company has a market capitalization of $61.59 billion, a PE ratio of 11.40 and a beta of 1.10. The company has a current ratio of 0.84, a quick ratio of 0.53 and a debt-to-equity ratio of 0.21. Canadian Natural Resources Limited has a 12-month low of $24.65 and a 12-month high of $39.20. The business's 50 day simple moving average is $28.91 and its 200-day simple moving average is $31.33.

Canadian Natural Resources Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, April 4th. Shareholders of record on Friday, March 21st were paid a $0.4117 dividend. The ex-dividend date of this dividend was Friday, March 21st. This is an increase from Canadian Natural Resources's previous quarterly dividend of $0.39. This represents a $1.65 annualized dividend and a yield of 5.61%. Canadian Natural Resources's payout ratio is currently 77.88%.

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).