Scotia Capital Inc. Purchases 329,555 Shares of Canadian Natural Resources Limited (NYSE:CNQ)

Scotia Capital Inc. grew its position in Canadian Natural Resources Limited (NYSE:CNQ - Free Report) TSE: CNQ by 5.8% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 5,969,882 shares of the oil and gas producer's stock after purchasing an additional 329,555 shares during the period. Canadian Natural Resources comprises about 1.0% of Scotia Capital Inc.'s holdings, making the stock its 29th largest position. Scotia Capital Inc. owned approximately 0.28% of Canadian Natural Resources worth $183,954,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in CNQ. Bessemer Group Inc. increased its holdings in Canadian Natural Resources by 314.8% in the fourth quarter. Bessemer Group Inc. now owns 522,458 shares of the oil and gas producer's stock worth $16,113,000 after buying an additional 396,491 shares during the last quarter. CenterBook Partners LP increased its stake in shares of Canadian Natural Resources by 12.3% during the 4th quarter. CenterBook Partners LP now owns 46,020 shares of the oil and gas producer's stock worth $1,421,000 after purchasing an additional 5,023 shares during the last quarter. Raymond James Financial Inc. bought a new position in shares of Canadian Natural Resources during the 4th quarter valued at $38,441,000. Advisory Services Network LLC lifted its stake in shares of Canadian Natural Resources by 18.9% in the 4th quarter. Advisory Services Network LLC now owns 10,913 shares of the oil and gas producer's stock valued at $337,000 after purchasing an additional 1,736 shares during the last quarter. Finally, FMR LLC boosted its holdings in Canadian Natural Resources by 8.7% in 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 purchasing an additional 7,372,718 shares in the last quarter. 74.03% of the stock is owned by hedge funds and other institutional investors.

Canadian Natural Resources Stock Performance

Shares of CNQ stock traded down $0.06 during trading hours on Tuesday, reaching $27.33. 1,853,095 shares of the company's stock were exchanged, compared to its average volume of 5,467,519. The business has a fifty day moving average price of $29.21 and a 200-day moving average price of $31.68. The stock has a market capitalization of $57.33 billion, a P/E ratio of 10.61 and a beta of 1.10. The company has a quick ratio of 0.53, a current ratio of 0.84 and a debt-to-equity ratio of 0.21. Canadian Natural Resources Limited has a fifty-two week low of $24.65 and a fifty-two week high of $39.79.

Canadian Natural Resources Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, April 4th. Shareholders of record on Friday, March 21st were issued 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 dividend on an annualized basis and a yield of 6.03%. Canadian Natural Resources's dividend payout ratio is 77.88%.

Analysts Set New Price Targets

CNQ has been the subject of a number of analyst reports. Raymond James raised Canadian Natural Resources from a "market perform" rating to an "outperform" rating in a research report on Wednesday, April 9th. Scotiabank raised Canadian Natural Resources from a "sector perform" rating to a "sector outperform" rating in a research report on Wednesday, March 19th. 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 set a $63.00 price objective on shares of Canadian Natural Resources in a report on Thursday, March 27th. Finally, 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. Three analysts have rated the stock with a hold rating and four have issued a buy rating to the company's stock. According to MarketBeat.com, Canadian Natural Resources currently has a consensus rating of "Moderate Buy" and a consensus price target 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).