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

State of Tennessee Department of Treasury increased its holdings in Canadian Natural Resources Limited (NYSE:CNQ - Free Report) TSE: CNQ by 1.0% during the fourth quarter, according to the company in 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 purchasing an additional 18,056 shares during the period. State of Tennessee Department of Treasury owned 0.09% of Canadian Natural Resources worth $56,198,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Duncker Streett & Co. Inc. bought a new stake in shares of Canadian Natural Resources during the fourth quarter valued at approximately $25,000. Lee Danner & Bass Inc. purchased a new position in Canadian Natural Resources during the fourth quarter valued at $25,000. Sandy Spring Bank bought a new stake in Canadian Natural Resources in the 4th quarter valued at $31,000. CoreFirst Bank & Trust purchased a new stake in Canadian Natural Resources in the 4th quarter worth $31,000. Finally, Hurley Capital LLC bought a new position in shares of Canadian Natural Resources during the 4th quarter valued at about $31,000. 74.03% of the stock is currently owned by institutional investors.

Canadian Natural Resources Trading Up 0.2 %

Shares of Canadian Natural Resources stock traded up $0.05 on Friday, reaching $29.36. The company had a trading volume of 3,750,760 shares, compared to its average volume of 7,294,207. 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 firm's 50-day moving average price is $28.94 and its two-hundred day moving average price is $31.38. The firm has a market cap of $61.59 billion, a price-to-earnings ratio of 11.40 and a beta of 1.10. Canadian Natural Resources Limited has a 1 year low of $24.65 and a 1 year high of $39.20.

Canadian Natural Resources Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, April 4th. Investors of record on Friday, March 21st were paid a dividend of $0.4117 per share. The ex-dividend date was 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 dividend yield of 5.61%. Canadian Natural Resources's payout ratio is currently 77.88%.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on CNQ shares. Tudor Pickering cut Canadian Natural Resources from a "strong-buy" rating to a "hold" rating in a report on Monday, February 10th. Royal Bank of Canada reaffirmed an "outperform" rating and issued a $63.00 price objective on shares of Canadian Natural Resources in a research note on Thursday, March 27th. Evercore ISI upgraded Canadian Natural Resources from an "in-line" rating to an "outperform" rating in a research report on Friday, March 7th. Scotiabank raised shares of Canadian Natural Resources from a "sector perform" rating to a "sector outperform" rating in a report on Wednesday, March 19th. Finally, Raymond James raised shares of Canadian Natural Resources from a "market perform" rating to an "outperform" rating in a research note on Wednesday, April 9th. Three research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $63.00.

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).