Intact Investment Management Inc. Raises Position in Canadian Natural Resources Limited (NYSE:CNQ)

Intact Investment Management Inc. grew its holdings in Canadian Natural Resources Limited (NYSE:CNQ - Free Report) TSE: CNQ by 30.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 975,880 shares of the oil and gas producer's stock after acquiring an additional 230,350 shares during the quarter. Canadian Natural Resources accounts for approximately 1.1% of Intact Investment Management Inc.'s investment portfolio, making the stock its 23rd biggest position. Intact Investment Management Inc.'s holdings in Canadian Natural Resources were worth $30,125,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of the business. Janney Montgomery Scott LLC grew its position in Canadian Natural Resources by 21.2% during the third quarter. Janney Montgomery Scott LLC now owns 26,900 shares of the oil and gas producer's stock worth $893,000 after buying an additional 4,702 shares in the last quarter. Old West Investment Management LLC grew its holdings in shares of Canadian Natural Resources by 73.9% during the 3rd quarter. Old West Investment Management LLC now owns 355,983 shares of the oil and gas producer's stock worth $11,822,000 after purchasing an additional 151,237 shares in the last quarter. Venturi Wealth Management LLC grew its holdings in shares of Canadian Natural Resources by 76.8% during the 3rd quarter. Venturi Wealth Management LLC now owns 6,323 shares of the oil and gas producer's stock worth $210,000 after purchasing an additional 2,747 shares in the last quarter. Nations Financial Group Inc. IA ADV raised its stake in Canadian Natural Resources by 7.9% in the third quarter. Nations Financial Group Inc. IA ADV now owns 14,996 shares of the oil and gas producer's stock valued at $498,000 after purchasing an additional 1,098 shares in the last quarter. Finally, MQS Management LLC acquired a new position in Canadian Natural Resources in the third quarter valued at about $439,000. 74.03% of the stock is currently owned by institutional investors and hedge funds.

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Analyst Upgrades and Downgrades

CNQ has been the topic of a number of research analyst reports. Evercore ISI raised Canadian Natural Resources from an "in-line" rating to an "outperform" rating in a report on Friday, March 7th. Raymond James reaffirmed a "market perform" rating on shares of Canadian Natural Resources in a research note on Friday, March 7th. Tudor Pickering cut Canadian Natural Resources from a "strong-buy" rating to a "hold" rating in a research report on Monday, February 10th. Finally, Royal Bank of Canada increased their target price on shares of Canadian Natural Resources from $62.00 to $63.00 and gave the stock an "outperform" rating in a report on Friday, March 7th. Five research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $63.00.

Canadian Natural Resources Trading Up 0.4 %

CNQ traded up $0.13 during trading on Tuesday, hitting $29.96. The company's stock had a trading volume of 5,680,465 shares, compared to its average volume of 5,028,503. The firm has a market capitalization of $62.92 billion, a P/E ratio of 11.63 and a beta of 1.48. Canadian Natural Resources Limited has a twelve month low of $25.62 and a twelve month high of $41.29. The stock's fifty day moving average price is $30.20 and its 200-day moving average price is $32.35. 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 Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, April 4th. Stockholders of record on Friday, March 21st will be paid a dividend of $0.4117 per share. This represents a $1.65 dividend on an annualized basis and a dividend yield of 5.50%. This is a boost from Canadian Natural Resources's previous quarterly dividend of $0.39. The ex-dividend date is Friday, March 21st. Canadian Natural Resources's payout ratio is presently 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).